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Let's apply for a loan approval!

What's a pre-approval?

A pre-approved loan is when a bank provides an offer for you in which they agree to lend you a certain amount, providing you can meet the requirements they have.

These can vary, and might include;

  • Providing a Sale & Purchase Agreement for a property
  • Providing evidence of your Kiwisaver or Home Start Grant Approval

These are the things we'll need:

  • 3 months of bank statements (savings and current account - see below our guide to downloading statements)
  • 2 payslips for each borrower, or 2 years of Financial Statements
  • Our loan application forms completed (see link under the video)
  • Statements for any current debt
  • Screenshot or confirmation of your Kiwisaver balance (if applicable)

How do I apply for Kiwisaver & the HomeStart Grant?

To apply for withdrawal of your Kiwisaver;

  • Call to your Kiwisaver provider to let them know you'd like to apply to use those funds for your first home - they'll then send you an initial withdrawal letter

To apply for the First Home Grant, simply
click here. You'll need the following details in order to apply;

  • Your IRD Tax Summaries for 2 years (log into MyIR here)
  • Your Kiwisaver Summary to show you have been contributing to Kiwisaver for at least 3 years
  • ID - Driver's licences or passports
  • Payslips for each applicant
  • Bank Statement showing your remaining deposit funds up to at least 10% of the purchase price

What happens once I have pre-approval?

Once you have pre-approval, it's time to look for the right property!

  • Talk to us about making an offer - we can help if you need to include a finance condition
  • We'll then meet the conditions on your loan offer - and will be here to help explain and tick these off for you
  • We can give advice on making an offer
  • We'll liaise with the Real Estate Agent, your Laywer and Accountant if required
  • We can arrange a valuation if it's required - all banks have different valuation requirements

What if I need to bid at Auction?

When buying at auction it's important to be prepared;

  • Get pre-approved
  • Know your budget
  • Get checks done
  • Get your deposit ready
  • If you have less than 20% deposit, a Registered Valuation will be needed
  • A few extra conditions

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