The 'Chance of Approval' is impacted by the information you provide us in your my Profile. Sign up now and be better off!!
Here are some tips to help you get a better deal.
- Deposit If you have Kiwisaver and are a first home buyer you may be eligible to use some of this for your deposit. Check out the eligibility criteria with your Kiwisaver provider.
- Reduce your debt Having less debt is likely to improve your chances of approval and increase the amount you may be able to borrow.
- Allow for upfront costs You will have between $1,500 and $3,000 of upfront costs to cover property reports and legal fees. Make sure you factor this in to your budget.
- Negotiate For example, another bank may offer a better rate on the condition that you switch your everyday and savings accounts to them, while one may offer to waive your approval fee. Some providers even offer holidays if you take out a mortgage with them!
- Know what you’re getting yourself into Be aware of costs and terms associated with mortgages so these don’t come back to bite you later on. Read the T&Cs!
- Beware of ‘revolving credit’ This type of loan requires a lot of discipline and if you’re not super strict (or easily tempted) this can end up costing you a lot more in interest.
Need a personal loan? Let Nomey help you out.
Looking for a new credit card? Nomey has you covered.
Unjumbling money – Nomey has all the tips you need.
We know money - now you can know us.