Why Mortgage Lab?

The Mortgage Lab is your friendly, nationwide Mortgage Advice company. We offer to walk you through the process of buying your next property.
Or, if you already own property, we’ll make sure you’re getting the best deal from your bank.
Once we’re there, we’ll make sure that your mortgage is set up exactly as you want.
Most of the time there is no cost to you for this. The banks pay us for our time.

The 5 Steps to Getting a Mortgage

We'll meet and discuss
your needs
We'll go and get approval
from the best bank for you
We'll negotiate interest rates
and meet to talk about how you'd
like to structure your mortgage
You've got
yourself a house!



For almost all our clients, there is no charge. We work with the banks and they pay us. The only time you’ll pay a fee is if we have to send you to a non-bank finance company. You’ll always be made aware of these fees long before they are locked in.

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The banks pay us to find and prepare the entire application for them. This means they need less people in the branch which is much cheaper for them. Additionally, the bank can focus the type of business they want from us. A bank might call us and say, “we don’t want high risk clients this month but we do want business owners”. And immediately, they will begin to receive those kind of clients from us. In a branch, the banks are forced to accept whatever client walks through the door.

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As above, sometimes a bank just isn’t looking for you as a client. In this instance, they can either decline you or make the terms of your lending so ridiculous that you either accept (sucker!) or you go away. We know what banks have an appetite for and send you to the right bank without you shopping around banks.

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This is called “shopping the deal” and it appeals to a certain type of customer but the short answer is no, we won’t do that the majority of the time.

Each bank runs a Credit Check on you when they approve you and the other banks can see this. This not only lowers your Credit Score (which is not great) but when the bank comes to offer you interest rates, they are not going to bother fighting for a good deal because you are clearly looking at other competitors.

This is counter-intuitive to what you might think. Often people think that banks realize they’re in competition and sharpen their pencils. Branch staff will tell you that competition is healthy, but trust us, the internal staff respond much better to loyal customers.

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The banks typically say 5 working days.  Sometimes it can be as low as 2 days or sometimes it can be slightly longer.  If your application is urgent, let us know as soon as possible and we will mark it as urgent.

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Nope. Is that weird to admit? Bottom line is, you’ll get the same interest rates as us if you’re a good negotiator or if you’re especially charming to the branch teller. So you’ve got those rates. Now which one are you going to choose? 1 year? 5 years? Interest Only? Partly Revolving? Should you take those bonuses they’re offering? Is it worthwhile bothering your Accountant? We go over all of this for free and you don’t even need to go into a branch. And you’ve got our DDI if you have additional questions.

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Everyone has high and low points in their life.  That doesn’t mean your should be permanently unable to buy a house. If you’ve found the right house, we have a lot of options for buying even with a bad credit report.

You’ll pay more interest for a while but the goal is to get you back to a mainstream bank as soon as possible.

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You have to insure the houses that the bank has as security. However, the bank cannot force you to take any form of insurance with them. We recommend getting independent advice on both insurance on your house and personal health insurance.

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Our Latest Articles

Financial Stability Report: RBNZ announces new changes to mortgage lendingThe Reserve Bank of New Zealand has released it’s 6 monthly Financial Stability Report. Previous Financial Stability Report Almost exactly one year ago, on the 29th November 2017, the RBNZ announced. Read more...
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4 tips to making an offer by TenderRecently we looked at some tips for bidding at an auction.  But what if the house you love is for sale by tender?  Tenders are much less time-pressured than auctions. Read more...
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Property Experts: who you need for a first home purchaseSurrounding yourself with property experts is not just a good idea; it’s absolutely necessary. And while it sounds expensive, you don’t have to go full-Thomas-Crown to get the advice you. Read more...
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The One Bank Trap and The Several Bank NightmareA common phrase in mortgage world is the “one bank trap”. It’s when you have all your lending with one bank which gives the policy makers at the bank all. Read more...
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What is KiwiBuild?Article updated: 30th October 2018 Have you heard about KiwiBuild?  Jacinda Ardern’s Labour government is promoting it’s programme to build 100,000 affordable homes and apartments over the next 10 years.  Here’s what. Read more...
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The bank said no to your investment property (Credit Hurdle)It happens to almost everyone eventually.  You walk into the bank, ask for an amount of money, either to buy a car, house or business and the bank declines you. . Read more...
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