Everyone wants to know: is now a good time to buy? Or are interest rates going to go lower? But what I don’t hear very often is what people are trying to achieve. Advising someone who is 30 and on a good salary is very different from advising someone who is 50, owns three [...]
A lot of good things happen in life, but regrettably, there are some "events" which leave people over 55 needing to get a mortgage and wondering if a bank will say Yes. I have good news for you. Banks will always listen to your story and will, assuming your cashflow and credit score is [...]
How much can I borrow? This will depend on a number of things like your income, what industry you are in, plus all of the below; Your credit history What debts you may have- car loans, loans for sofas, PCS, Student loan etc Credit card limit Deposit size Basically there is no one size [...]
Can I still borrow as much? For those of you who are thinking about buying, here is some information. You will be well aware that the economy is suffering the effects of the Virus, with some industries suffering more than others. Banks are now prepared to lend over 80% more readily than [...]
Turn a mortgage application "No" into a "Yes" Did you know two common reasons for a "No" from your bank are; The application hasn't been presented in a way the bank likes i.e. it is missing a lot of supporting documentation The lender/ manager you are talking to doesn't understand your application or [...]
Can you re-finance my second tier lender back to a high street bank? It will come as no surprise the reason behind this question is cost. There are a load of reasons why someone has to go to a second tier lender. In order to get back to a first lender you [...]
What should you do when the bank says No? When a bank says No, it is a natural reaction to think Why, what have I done? In the many instances that I see, the borrower may have been with the bank for many years so a No seems strange. Does track record [...]
How to make money after 50? I don't get asked this question as much as some others, but I suspect it is on a lot of people's minds , or at least it should be, as we all know by now that NZ Super will only pay you enough to eat, keep [...]
Here are some of the roadblocks which you need to overcome: Credit history No defaults, judgements Move on Account conduct Dishonour fees Stop Account always in the black Move on Personal loans None Move on Car loans, credit card debt > $10,000 Stop- assess Self Employed Two years financials Move on No financials [...]
How long does it take to get pre-approved or a loan offer from a bank? The answer will surprise you. The stock standard answer is around 5 working days for any of the mainstream lenders. Sometimes you get lucky and can hit a quiet patch, but the best I have seen recently is 3 [...]
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