Know your budget before you start looking. Get pre-approved with the right lender.
A pre-approval tells you how much a lender is likely to lend, so you can house hunt, make offers and bid at auction knowing your budget. We compare lenders to find the pre-approval that suits your situation.
Most sellers and agents expect you to know your budget before you make an offer. A pre-approval gives you that number, and it shows you what the lender will want to see when you find the right property.
What a pre-approval is
A pre-approval is a lender's conditional agreement to lend you up to a certain amount. It is based on your income, expenses, debts and deposit. It is not a final approval. The lender will still need to approve the specific property before the loan is confirmed.
Pre-approvals usually last a few months. If yours runs out before you buy, it can often be renewed with updated information.
Why the lender matters
Each lender calculates how much you can borrow differently. The same person can be pre-approved for different amounts by different lenders. We compare lenders so your pre-approval reflects your situation across several lenders.
We also keep the number of credit checks to what is needed. Several applications to different lenders in a short time can count against you.
What you will need
- Identification. A passport or driver licence.
- Proof of income. Recent payslips, or financial statements if you are self-employed.
- Bank statements. Usually the last three months, showing your spending and savings.
- Your deposit. Where it is coming from, including any KiwiSaver or money from family.
- Your debts. Credit cards, car loans, student loans and buy now pay later accounts.
Buying at auction
At auction, the sale is unconditional when the hammer falls. You need your finance sorted before you bid. A pre-approval is a good start, but most lenders also need to approve the specific property, so talk to us well before auction day.
When to talk to us
Before you start going to open homes. That gives us time to sort anything that could reduce your budget, such as unused credit card limits. The first conversation is free, with no obligation.
Common questions.
How long does a pre-approval last?
Usually a few months, depending on the lender. If it expires before you buy, it can often be renewed with updated payslips and bank statements.
Does a pre-approval guarantee I will get the loan?
No. It is conditional. The lender still needs to approve the property you choose, and your circumstances need to stay the same.
Will getting pre-approved affect my credit score?
A lender will usually check your credit file, and each check is recorded. We keep checks to what is needed so several applications do not count against you.
Can I get pre-approved if I am self-employed?
Yes. You will usually need your recent financial statements. Some lenders treat self-employed income more fairly than others, which is where comparing lenders helps.
What clients say about working with Carl.
Carl was an absolute pleasure to work with. His knowledge, professionalism and prompt communication gave us confidence throughout our first home purchase. He secured us an excellent deal with Westpac and made the entire process seamless. We highly recommend Carl to anyone looking for a mortgage broker.
Three of us, all self employed, wanted to get a home loan for a shared house. Without the expertise, help and the precise instructions to fill in the various documents or organise specific items we would not have had a chance to get the mortgage over the finish line. Carl was extraordinarily helpful and always found a way to continue this not so easy application. I can highly recommend Carl. Very grateful for his assistance.
Carl was fantastic to work with. Our mortgage application was not straightforward as we were multiple people, all self employed with new businesses. We had tried using other brokers but they weren't able to get our approval across the line. Carl was tenacious with the banks, and had so much knowledge he was able to guide us through all the information we required and how to present it. After a difficult process he was able to secure us a mortgage with very favourable terms. I couldn't recommend him enough, the effort and work he puts in is second to none!
Carl Mann is a fantastic mortgage broker. He is knowledgeable, professional, and has excellent communication. Carl kept us updated along the way and provided sound advice. I would definitely recommend Carl to anyone needing assistance with mortgage finance or refinancing.
Carl helped us work through the finance for our next investment property without losing sight of our existing lending. He understood what we were trying to build over the longer term and worked through the different options with us before we made an offer. That preparation made the purchase much smoother.
Development finance was very different from arranging a normal mortgage. Carl understood the feasibility, valuations, build costs and timing the lender needed to see, and helped us get everything organised before it went to credit. Having someone who understood the development side of the deal saved a lot of back and forth.
We were purchasing premises for our business and needed someone who could look at both the property and the strength of the business behind it. Carl worked through the numbers with us, explained what the lenders would focus on and helped structure the application properly from the start.
Start with a conversation.
A free, no-obligation chat. We will work out your budget and which lender is likely to suit you before you start house hunting.
Every conversation is confidential.
Book a conversation