3 months bank statements

Your lender will look at these line by line to check whether you have stayed in the black every month or if you have gone into the red.  If it is the latter, you must have an arranged overdraft facility.  What they absolutely don’t like are the words;

“Unarranged overdraft fee”

“Insufficient funds” or

“Dishonour fee”

So make sure you are on top of your finances, even a slip of one day can mean a “No” from a bank.

Your lender will be looking at your statements to see if there any fixed payments for car loans or the like, so make sure you declare ALL debts.  If you fail to declare any loan and the lender finds it first that is not good for you. They won’t accept the excuse “Oh i am sorry I forgot about that one”. Basically, the bank wants to make sure that you can handle your money so they get repaid.

If you run a business the bank will want business statements too.

If you are re-financing to a different lender, you will need to show 6 months of mortgage history with your existing lender.

Payslips/Financials

If you are employed then you will need the 3 most recent payslips. Remember there will be evidence of any outstanding student loans and the like so make sure you declare them.

If you are self employed then two years of financials will be needed, plus Management Accounts if you are 6 months through the financial year.

Evidence of deposit

This can be;

A KiwiSaver letter from your provider

Savings statement

Gift letter from parents or other family members

Outstanding Debts

If you have paid off any recent debts and closed down a debt facility then it pays to provide this

If debts haven’t been paid off then have proof of the amounts outstanding

ID and Proof of Address

NZ passport or Drivers Licence but passport is best

Evidence of your address from a utility provider or if you are renting and don’t pay the utility bills then a letter from your rental manager is usually sufficient.