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 

Open for Business

Open for Business
Contact Us - Mortgage Managers
https://bit.ly/2W2nebN 

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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 

Some People Need Bad Credit Home Loans

Banks will usually view any credit issues as a problem that stops you getting a home loan; however our advisers do not judge and have lenders that offer non-standard home loans and specifically bad credit home loans.

http://bit.ly/2RBrw7R 

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One Bank Makes It Easy To Pay Your Home Loan Off Quicker

Most banks would rather show you how to get a personal loan or a credit cards rather than focus on paying your home loan off quicker.

Learn which bank does make it easier.

http://bit.ly/2NOHT0n 

Spend Your Money On The Right Things

Here is a list of the best areas to spruce up at home for under $10,000 and get the biggest returns http://bit.ly/2OkDbpT 

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Named "Jikka," This Is A Japanese Forest Home

It's like something straight out of a fairytale ... quite stunning really
http://bit.ly/36NZGfz 

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Mortgage Experts Discuss Revolving Credit Mortgages

Revolving credit mortgages are flexible loans like an overdraft which is secured over your property.

Our mortgage experts discuss how to get the best from a revolving credit mortgage.

http://bit.ly/2pFPRzh 

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Paying Your Home Loan Off Faster Just Got Easier

You should have your home loan with a bank that makes it easy for you to start paying your home loan off faster... but most people don't.
Learn more about paying off your home loan today: http://bit.ly/33aJrGM 

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Political Stability Matters

Political stability returns confidence in the Sydney property market, but in New Zealand we are struggling due to lack of confidence in the political leadership.

Of course the KiwiBuild flop and failure to address the issues with the "reset" have not helped provide any confidence.

https://ab.co/2mcnzL5 

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What are low equity margins?

In New Zealand the banks will normally charge a low equity margin on home loans where there is less than 20% equity or deposit.
Learn more here: http://bit.ly/2LZNE9j 

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Getting A Home Loan With A 5% Deposit

You might have thought that this was not possible, but recent changes have seen low deposit home loans on the menu again.
They might mean you can buy your first home when previously not having a deposit has meant you have to continue renting ... and saving.
http://bit.ly/2Nu2LuQ 

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While it is possible to engage more than one mortgage broker, it’s not really going to benefit you and will often cause issues for the mortgage brokers too.

You are always better to work with just one good mortgage broker.
http://bit.ly/32HTena 

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Can Auckland Housing Become Affordable Again?

Should we blame the "crisis" on the lenders’ willingness to extend increasing amounts of mortgage debt in proportion to borrower incomes?

In this article it's claimed that this is what has facilitated Auckland’s severely unaffordable house prices.

http://bit.ly/2LCJ5Tk 

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The outdoor shower suits the Kiwi lifestyle.
So why not make a feature from one.

http://bit.ly/2L9dPrr 

Are Mortgage Brokers Free?

As mortgage brokers we get asked a lot of good questions.
Some are easy to answer, while others are not so easy.

We have answered this here: http://bit.ly/32KSSfF