Mortgage FAQs
We’ve put together some frequently asked questions to help you understand the lending process more clearly.
Do I need a mortgage broker?
A mortgage broker auckland gives you options from many different lenders, not just one bank. They compare interest rates and loan structures for you, do the paperwork, and deal with the banks on your behalf.
You save time, avoid confusion, and get clear advice that fits your situation – so you can make decisions with confidence.
Do you charge a fee?
No, we don’t charge our clients any fees for our service. We’re paid a commission by the lender when your home loan settles.
When should I start the finance chat?
Start early – well before you’re ready to make an offer. A short call helps set your price range, timeline, and next steps, so you know exactly what you can afford.
Early preparation makes your pre-approval smoother and gives you more confidence when the right property shows up.
Can you beat my bank’s rate?
Often we can – but we don’t guess, we compare. We take your current bank’s offer and line it up against real quotes from other lenders, then ask them to compete for your business.
You see the options side by side – rates, cashbacks, and structure – and then choose the deal that works best for you.
What is pre-approval?
Pre-approval is a written indication of how much a lender is prepared to let you borrow based on your current situation.
It’s a strong guide, not a final yes – the lender still needs to fully check and accept the specific property (and sometimes update your details) before you can go unconditional.
How long does approval take?
Timeframes vary. Simple, well-documented applications can move quite quickly. More complex files – like self-employed income, multiple properties, or past credit issues – may need extra checks and take longer.
We’ll give you a clear timeline for your situation, explain what’s happening at each stage, and keep you updated until the lender makes a decision.
Can you help if I’m self-employed?
Yes. We work with many self-employed clients, contractors, and business owners.
We help present your income clearly using financials, IRD records, and bank statements, then match you with lenders who understand business cash flow – not just a simple salary.
What documents will I need?
You’ll usually need photo ID, proof of income (like payslips or financials), recent bank statements, and details of your savings, loans, and other debts.
We’ll send you a simple checklist tailored to your situation so you can gather everything quickly and avoid back-and-forth with the lender.
What happens after the process is completed?
We don’t disappear once your loan settles. We stay in touch, check in from time to time, and review your loan as rates or your situation change.
When it makes sense to refinance or restructure, we’ll talk you through the options so your home loan keeps working for you, not the other way around.
What is a construction loan?
A construction loan is a home loan that’s designed for building or major renovations. Instead of receiving all the funds at once, the lender releases money in stages as the build progresses. You usually pay interest only on the funds that have been drawn down, not the full amount from day one.
How is a construction loan different from a normal home loan?
With a standard home loan you get the full amount at settlement. With a construction loan, the bank pays your builder in stages (called “progress payments”). Your repayments start lower and increase as more of the loan is used.
What do lenders look at when approving a construction loan?
Lenders look at your income, existing debts, deposit, and credit history – just like a normal home loan. On top of that, they check your build: the section, plans and specs, building contract, council consents, and whether the total cost fits the property value. A clear, fixed-price build with a reputable builder usually makes approval smoother.
How much deposit do I need for a construction loan?
The required deposit depends on the lender, the build type (turnkey vs. progressive build), and whether you’re an owner-occupier or investor. As a guide, lenders will want to see that you have enough equity or cash to cover your share of the land and build costs, plus some contingency. We walk you through what each lender needs and whether your deposit is strong enough.
Do I need a fixed-price building contract?
In most cases, yes – lenders prefer a fixed-price contract because it reduces the risk of cost blowouts. They’ll want to see the build contract, full plans, and specifications. If any parts are “estimate only” or excluded, we help you explain these to the lender and allow for a realistic contingency.
What documents do I need for a construction loan?
You’ll need the usual home loan documents: ID, proof of income, recent bank statements, and details of your debts and savings. For the build, lenders also want your sale and purchase agreement for the land, build contract, plans and specs, council consent (or at least lodged), and sometimes a valuation or quantity surveyor report. We give you a checklist so you know exactly what to collect.
Can you help if I already own the land?
Yes. If you already own the section, the lender will look at your equity in the land plus your cash savings to work out the total deposit position. We structure the loan so the bank can use your existing equity and then fund the build in stages.
How do progress payments work?
Your builder claims payment at agreed stages (for example, slab, frame, enclosed, interior, and completion). The lender may ask for an invoice and sometimes an updated report or inspection before releasing each payment. We coordinate with you, the builder, and the lender so everyone knows what’s needed at each stage.
What can delay a construction loan approval?
Delays usually come from missing documents, unclear build costs, council consent issues, or changes to your income or debts part-way through the process. We help tidy the file before it goes to the bank, explain any tricky parts, and keep you updated on what’s needed to keep things moving.
How can a broker help my construction loan get approved?
Construction lending is more specialised than a standard purchase. We know which lenders are currently comfortable with builds, what documents they expect, and how to present your plans clearly. Our job is to reduce surprises, manage the lender’s questions, and give you a clear path from “idea” to “approved build”.
