According to Consumer NZ, $22.6 billion in loans have been made by the Bank of Mum and Dad, or "the BOMD." This translated into an average contribution of $108,000 from 208,638 parents. You might consider borrowing money from a family member if you are in a position where you have the serviceability (the capacity to meet good levels of borrowing) but need a larger deposit. This implies that you could buy a house and borrow the deposit from BOMB instead of having some or all of it saved. After a while, you might consider refinancing and using your savings or the equity you have gained in the property to pay back the deposit loan. If it is planned and structured correctly, this can be an effective way to get onto the property ladder. Without it, it can have serious legal and emotional repercussions and tax impediments. One way to look at it is that the money you were using to save for a deposit can now be used to repay the loan on the deposit, while the money you were previously spending on rent is now going towards your mortgage and other household expenses. Your first course of action should be to get your financial situation assessed by your bank, or better yet, a mortgage adviser. It is crucial that all parties get independent legal, financial, and tax advice before putting any possible structure into place or sending money.  The type of assistance typically provided by the BOMB could be one or more of the following; Contributing towards the deposit Acting as guarantor Buying a property in partnership with them Buying a property on their behalf