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Author Archive
Helping a first-time home buyer overcome credit challenges
Background
A single man in his mid-30s sought to purchase an owner-occupied home in a main New Zealand city, with lending at 90% LVR.
Challenge
The customer had previously experienced some credit challenges, which impacted their credit score. While these issues were in the past, they were a factor in the assessment process, particularly when [...]
Helping a family relocate during a challenging time
Background
A couple, where the husband has a terminal illness, needed to be closer to family for support. They had unconditionally sold their home in a small North Island town. They found a new family home in another town, but their existing main bank refused to support the purchase due to past mortgage repayment arrears.
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Caveat loan for tax arrears and cosmetic renovations
Background
The client sought a top-up caveat loan to cover tax arrears and cosmetic renovations for an existing property, with plans to sell the property upon completion.
Challenge
The main bank provider was unable to demonstrate servicing due to test rates applying to the overall global position of the client’s portfolio.
Mitigants Stable employment
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Short term open bridge loan for property purchase
Background
The client owned a lifestyle property in a desirable rural coastal area and wished to purchase another lifestyle property in the same region. However, they needed time to prepare their current property for sale. To facilitate the purchase, they required an initial deposit to be paid now, with the remaining balance settled upon the [...]