Christmas spending and your mortgage application: what the bank sees on your statements
If you’re applying for a home loan between January and March, your Christmas spending is on the statements the bank reads. What NZ lenders look for, what common Christmas debt does to your borrowing power, and an 8-week plan.
Should you consolidate debt into your mortgage? A worked example
A worked NZ example of rolling a credit card and a car loan into your mortgage: the lower monthly payment, the extra interest over 25 years, and how to avoid the trap.
I pay $900 a week in rent, so why can’t I get a mortgage?
Banks don’t judge your borrowing power on your rent. How credit card limits, Afterpay, car loans, student loans and dependants cut what you can borrow, and how to fix it in a few months.
How credit cards, Afterpay and car loans affect what you can borrow
Banks do not assess your debts on what you pay each month. They assess them on what you could be forced to pay. Here is how New Zealand lenders treat credit card limits, buy now pay later, car loans and student loans, and which ones are actually worth clearing before you apply.
Can the Bank Decline Your Mortgage Because of Debt, Spending or Your Bank Statements?
Can a bank decline your mortgage because of debt, spending or what’s on your bank statements? What NZ banks flag, why it matters, and a 90-day clean-up before you apply.
Credit score New Zealand: how it works and how to check yours
Your credit score has become more important than ever. In recent years, banks and lenders have placed greater emphasis on assessing your creditworthiness before approving any kind of finance, whether it’s a credit card, personal loan, or home loan. When you apply for credit, the lender will access your credit report, which shows your score […]
Does a student loan affect getting a mortgage in NZ?
Yes. A student loan reduces how much a bank will lend you. Not because of what you owe, but because of the repayment that comes out of every pay. First home buyers ask me this more than almost anything else, so here’s exactly how it works and what you can do about it. Banks look […]