Navigating a home loan application as a self-employed individual has its own set of challenges – but is often very do-able! Banks typically need more documentation from self-employed individuals to verify income. The starting point is usually least two years of financial statements, including 1) a balance sheet which shows the businesses financial position, and...Read More

The law around who can buy property in NZ is somewhat complex. Figuring out whether you are eligible to buy a house may require some legal advice. To save you some time and possibly even money, here’s a quick, simplified process to work through to self-assess whether you are able to purchase property in NZ....Read More

By now most of us who are earning an income will have a Kiwisaver fund (if you don’t, I suggest you speak with an investments adviser to help decide whether this is a good idea for you). Using your Kiwisaver is a popular source of deposit to buy your first home. There are a few...Read More

When making an offer on a property, there are a number of conditions that can be added to the Sale & Purchase agreement to protect you as the purchaser. One of the common conditions is being subject to a “LIM report” check. The purpose of this condition is to protect the purchaser by allowing them...Read More

A question that often comes up from a potential home buyer is “do I need to get a building report done?” In most cases, it’s not a requirement of the Bank. However, if they have concerns about the property (from seeing the online listing photos or other disclosures provided) they reserve the right to ask...Read More

Yesterday the Reserve Bank confirmed the anticipated Debt To Income (“DTI”) Ratio changes to commence from 01/07/2024. The banks have had 12 months to prepare for this and have already embedded this into their home loan application process, although have not needed to use this for decision making until now. So, what are the changes...Read More

The below content below is not advice from Grant Stephens or any adviser or staff members of Personalised Mortgages. This content is provided by a qualified accountant from an external accounting firm (Bring On Monday) which has no common ownership with Personalised Mortgages Limited. The purpose of this article is information sharing only and does...Read More

As your mortgage adviser, I consider myself as your first line of defence when it comes to getting things set up correctly. I’ve worked with hundreds of clients of whom each have different needs and so I can help get you get started and guide you through the entire home buying process.   However, I’m...Read More

Building your own home is an ideal that many of us share. Finding that perfect block of land to build your dream house on and settle down in is an incredibly exciting experience. Keep reading to see how you can make this dream a reality by borrowing against bare land.   For the most part,...Read More

You may have heard the term “Usable Equity” before and wondered what it means. Let’s dive in… In simple terms, it is the amount much equity you have available to be “used” – easy right? But how do I calculate this? And what can I use it for?   To calculate usable equity, we need...Read More