How to get lenders to fall in love with you

How to get lenders to fall in love with you

Lenders are in love with borrowers who show good financial habits, particularly now in a shakier-than-usual economy. 

Good habits are gold. And it’s never too late to start, even if business is down, your hours have been cut back, or you’re receiving government assistance. I can help you get into a position where lenders still consider you a possibility. 

So how do you get lenders to love you in this strange economic climate?

Broadly speaking, home loans are most likely to be leant to borrowers who…

  • Are able to make regular repayments
  • Have assets to borrow against, like properties, vehicles, and even super
  • Have few debts including credit cards, university fees, and other loans
  • Have a deposit ready to go… the bigger the better 
  • Have chosen property in a good location (not a risky region)
  • Don’t have massive monthly expenses chewing up their income
  • Have a good credit score (don’t know your score? I can get it for you
  • Have proven they know how to budget 
  • Are working and likely to work for years to come, with a stable and predictable income
  • Are residents of New Zealand

*This doesn’t mean to say you can’t get a loan easily through me as your broker, it just means we need to jump through a few additional hoops together!

If your circumstances have changed during COVID, what can you do?

  • Chat to me about a simple and successful 3-month-long budget
  • Consolidate debts… create one central payment for all your loans
  • Access grants available to buyers in this market
  • Speak to my wealth adviser colleagues about restructuring your finances

What will you need to show lenders if you want a loan this month?

  • Details of other loans, credit cards and debts
  • A completed application form (I do this with you)
  • Form of ID; passport, license, letters – you know the drill
  • Bank statements (ARGH!).Half a year’s worth! So let’s make them sparkle!
  • Payslips from work if you’re a staff member
  • Tax returns from the last two years if you’re small business owners.

Beryl – Welcome to the Bricks & Mortgages website. At Bricks & Mortgages we pride ourselves on providing you with professional advice on reducing your mortgage and getting ahead in the property market.

Our team has years of combined mortgage broking and lending experience. We will have an ongoing relationship with you for the lifetime of your loan, including an annual review of your financial goals.