Below is a list of commonly asked Mortgage questions with answers that should help give you some further understanding of how mortgages and mortgage brokers work in new zealand.
I only have a 10% deposit can I get a pre-approval or home loan as my bank has said no?
Yes you can. However, it depends on the bank you are with and if you are a first time home buyer.
If I have a 20% deposit do you get sharper interest rates?
Yes you do. However, to maximize this you need me to negotiate these rates for you.
My deposit is made up of only kiwisaver and first home grant funds, I have no actually savings can I get a loan?
Yes you can, as most banks consider kiwisaver to be savings.
I have bad credit history can you help?
In most cases yes; as long as your default has been paid and a good explanation is provided, I can generally get around bad credit history. It is a bit complex as each bank has their own specific policy we need to adhere to, so we must navigate this correctly.
I have just started a new job. How long do I need to be employed before I can get a loan?
That depends on deposit amount and if you have a trial period. In most cases, as long as we can demonstrate sound employment history in the same industry this isn’t an issue.
How many banks are you accredited with?
Currently I have access to 18 banks and finance companies, with more being added all the time. So yes I have access to all the banks.
How do you get paid?
The banks pay me a commission when you buy your home, so for you, my services are free.
I already have a Pre-Approval with my bank or another mortgage broker but I am not satisfied with it, can you help?
Happy to chat about what you are looking for and normally I can tell if the Pre-Approval is good or bad and if I can help further.