OPINION:
Each week the NZ Herald's Cooking the Books podcast tackles a different money problem. Today, it's how to get ready so the bank's more likely to say yes to a mortgage. Hosted by Frances Cook.
Listen to the Cooking the Books podcast here or watch the interview above.
We all know that house prices are soaring, making it harder than ever to scrape together a deposit.
The trick is, when you're talking to a bank, getting approved for a mortgage isn't a black and white process.
The bank does have a little bit of discretion. Just not much.
They're charged with making sure they don't give you so much debt that it crushes you – which means, if you can show that you're financially a safe pair of hands, they might let you through with a smaller deposit than others.
It's all about speaking the bank's love language. So what can you do to stand out from the herd?
In the latest podcast I talked to Rupert Gough from Mortgage Lab.
For the interview, watch the video above, or listen to the podcast.
• If you have a question about this podcast, or question you'd like answered in the next one, come and talk to me about it. I'm on Facebook here, Instagram here and Twitter here.
• Listen to the full interview on the Cooking the Books podcast. You can find new episodes in the Herald, or subscribe on iHeartRadio, Apple podcasts app, or Spotify.
They have doubled the team chasing Kiwis overseas who are behind in loan payments.