Getting a mortgage can be stressful and a lot of that stress is caused by waiting for the bank to make their offer. You can significantly reduce wait time by providing all required documentation upfront.
Documentation you may need:
- a copy of your current Passport (or Drivers License and Birth Certificate)
- if you are employed
- your 3 most recent payslips
- 2 years confirmation of any bonuses you receive
- if you are self-employed:
- Accountant prepared Financials for March 2020 year
- 3 months of your spending (EftPos) account statements
- Note: these must include the bank accounts that receive your wages
- 3 months of your savings account statements
- a printout or screenshot showing the balance of any KiwiSaver Accounts (only required if you plan to use KiwiSaver for your deposit)
- if you are receiving a gift from your family
- a copy of a Gifting Declaration
- note: we can provide a template for this if you require. Contact your Adviser to get a copy of this.
Optional documents:
These documents aren’t necessary at the approval stage but showing them can make the bank more relaxed about your application
- if you are purchasing the property in a Trust
- a copy of the Trust Deed
- if you have a Student Loan
- a copy of your Student Loan balance from the IRD website
- any information you have on the property you are interested in. Usually this arrives as a Tender Pack or an Auction Pack from the Real Estate Agents.
- if you are purchasing an investment property
- a copy of a rental assessment from a Rental Firm or a Real Estate Agent
It may look like a lot of documentation but it actually amounts to: ID, income, bank statements and proof of deposit.
Any bank that receives this information at the time of the application will happily assess your file as quickly as possible.