What Lenders Look For In Your Bank Statements

Lenders are now looking at spending and bank statements in more detail when assessing people for a mortgage approval.

Previously you would be asked what you spend and your mortgage adviser and the lender at the bank would check your statements and situation to make sure that what you stated was realistic.

The banks all had pre-determined minimums for living costs for a single person, a couple and families with children and so this was the basis (and the minimum) used in any calculations.

The idea of this article is to highlight what the banks are looking at, and how you can adjust things to help your chances of getting a mortgage approval.

Please read and share.

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New Builds Prove Popular

The Government and Reserve Bank love to blame property investors on the housing crisis and so have implemented higher deposit requirements; however they also know there is a real need for more housing so new builds are not covered by the same rules.

https://bit.ly/3tk7mAR 

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Don't Let The Banks Link Your 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.

https://bit.ly/33YCbAJ 

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When Is The Best Time To Buy A House?

Obviously this is a question that lots of people ask as we all want to know the answer to, so we wrote a blog post to give you some help making a decision.

https://bit.ly/3dJDbdU 

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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.

That's where an adviser can help.

https://bit.ly/3c1BPtZ 

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Try Again Now For Your Mortgage Approval 

You may have recently tried for your mortgage approval and been told that it doesn’t quite work.

Of course that’s not the news that you wanted.
It may have been for a reason, but often those reasons are small and also the banks are changing criteria often. 

Maybe it’s time to try again.

http://bit.ly/2w37hZt