What To Do If The Bank Says “NO”
Unfortunately hearing the bank say “NO” to a mortgage application is becoming more common these days, particularly for First Home Buyers and Self Employed borrowers. They can decline your application which will make no sense to you, especially if you were expecting an approval. So what to do if the bank does say “NO”? We […]
Is It Okay For Banks To Link My properties?
When you own more than one property the bank will want to link your properties, and while it is the easy option it is not the best option. You need to retain control over your properties and finances, and it’s easy to lose control and options when the bank has linked your properties together.\ Of […]
My Top FIVE Tips For First Home Buyers
As a mortgage adviser I get to see a lot of people in varying situations that want to get their first home, and with that I have created a list of tips for first home buyers that I’m happy to share. These are my 5 top tips for first home buyers. Let’s have a look […]
Does A Student Loan Affect Getting A Mortgage
As a mortgage adviser, and from our Facebook Group I hear from lots of first home buyers asking “does a student loan affect getting a mortgage” and if they can. The answer is YES your student loan does affect your ability to get a mortgage, or at least it impacts on the amount the banks […]
Non-Bank Mortgages
Most people would be surprised at how many people use non-bank mortgages these days. The term “Non-Bank Lending“, “Non-Bank“, “Bank Alternatives” or “Second Tier Lenders” simply refers to those lenders who are involved in the business of providing finance, but are not traditional registered banks. In the past these lenders have been quite a lot […]
Which Is The Best Mortgage Option?
One of the key roles for any mortgage adviser is to source and give you advice on the best mortgage option. Other key roles include getting the mortgage approved, and getting competitive interest rates. What do we mean when we people which is the best mortgage option? As a mortgage adviser I often see people […]
Getting Help Dealing With Mortgage Arrears
Kiwis often don’t know where to get help dealing with mortgage arrears. They are told to speak to their banks, but do not feel comfortable dealing with some credit person that is hidden behind an email address of 0800 number. It’s difficult to know what the banks credit people or hardship teams will do. Understanding […]
Sometimes We Need A Fresh Start
We cannot dwell on the past, but unfortunately the banks often do and penalise us for years after we have had something go wrong. A default will stick on our credit reports for 5-years after being listed and when the banks see this “bad credit” they will typically decline lending applications. We say typically because […]
Low Doc Home Loans For Self Employed
New Zealand has a large number of self employed people and small business owners whom find it difficult to meet the banks criteria when it comes to proving income. That’s the main reason some of the non-bank lenders have created low doc home loans. The problem is many self-employed people will talk to their bank […]
You Can Get Bad Credit Mortgages
Bad credit mortgages are possible, but not from your bank. If you have some bad credit you may leave the bank disappointed that they cannot help, even when you have banked with them for many years. They don’t ask why … they just say “NO” your application is declined and your dream is over. Don’t […]
What Makes A Good Home Loan?
One of the key roles for a good mortgage adviser is to provide people on what makes a good home loan. There are other things that advisers do like arranging the home loan and getting competitive interest rates, but probably the most important role is to know what makes a good home loan for a […]
Low Deposit Options For Your First Home
What low deposit options are there? Most first home buyers do not have a 20% deposit and so ask if it’s worth making the effort to buy with a low deposit now or wait and save more. For first home buyers, the deposit is generally one of the biggest issues, and especially in the larger […]