We work on your behalf to get the best deal from the bank. We'll begin by getting pre-approval for your mortgage, so you know exactly how much you've got to spend.
Your mortgage broker will require the following information:
- Confirmation of income: the most recent (three months) payslips or copy of your employment contract (both is preferable) or financial accounts if you're self-employed.
- Three months bank statements on your day-to-day account; the account where your income is direct credited
- If applicable, provide three months worth of bank statements on your credit card account
- Confirmation of deposit: This is achieved by providing six months bank statements on your savings account.
- Copy of identification. Your driver’s license or passport will be fine.
Internet statements are fine as long as they show a running balance.
Download our checklist and loan application forms to start the application process from our apply for pre-approval page
what happens next?
Once this information is available, the mortgage broker will complete a loan application with you. They will gather all the information, write a diary note to accompany the application, and present it to various banks.
Once the application is submitted, the bank generally takes three to four working days to provide an answer. A well-presented application generally means the bank will come back with a pre-approval and no questions.
If the bank does have questions, it could take a little longer to obtain approval. The goal of a mortgage broker is to anticipate these questions and cover them off in their diary note before the bank asks.
Now that you have pre-approval, you can safely start looking for a home within your pre-approved budget. Remember that when you’re buying your first home, it probably isn’t going to be your dream home, but it will be an important step on the property ladder, so it’s important to make a sensible choice.
If all of these things match up, you are ready to buy.
ready to buy?
There are 3 different ways of buying a house in New Zealand: