Author: controlshift

We get it—being self-employed can make the home loan process feel a bit more complicated. But don’t stress, it’s totally doable! Banks will ask for more proof of income compared to someone on a regular paycheck. Usually, that means you’ll need at least two years of financial statements — your balance sheet and profit &…

Buying a home in New Zealand sounds simple, but the rules about who’s allowed to buy can get a bit tricky.  If you’re wondering whether you qualify to buy here, you might need some legal advice — but to save you time and maybe some cash, here’s a quick and simple checklist to figure it…

Good question. Here are the Facts Eligibility Criteria To access your KiwiSaver savings for buying your first home, you need to meet these criteria: You have contributed to KiwiSaver for at least 3 years. After withdrawal, you must leave at least $1,000 in your KiwiSaver account. The money can only be used to buy your…

The Reserve Bank has set maximum DTI lending limits that banks must follow from 1 July 2024. DTI is the ratio of your total home loan debt compared to your gross annual income. New maximum DTI limits: Owner-occupied borrowers: max 6 times your gross income Property investors: max 7 times your gross income Banks may…

What is a due diligence condition? A due diligence (DD) condition is a special clause added to the ADLS Sale & Purchase Agreement that allows you to do all your research and inspections after you’ve agreed on the price, before you fully commit to buying the property. It gives you the chance to cancel the…

When making an offer on a property, you can add various conditions to the Sale & Purchase Agreement to protect yourself as the buyer. One common condition is to have the offer subject to a LIM report check. What is a LIM Report Condition? This condition gives you the right to obtain, review, and approve…

A common question from potential home buyers is: “Do I need to get a building report done?” In most cases, banks don’t require a building report. However, if they have concerns about the property—based on listing photos or disclosures—they may ask for one. But regardless of the bank’s requirements, it’s highly recommended to get a…

Do I Need a Solicitor When Making an Offer? As your mortgage adviser, HelloYello is your first line of defence in getting your home buying journey started on the right foot. We’ve helped hundreds of clients with varying needs, guiding them through the process from start to finish. But here’s the thing: We are not…

Building your dream home starts with finding the perfect block of land — an exciting step toward making that dream a reality. But how do you borrow against bare land? Let’s break it down. In many ways, getting a loan for land isn’t too different from buying a house. You still need to meet affordability…

Thinking about city living and the convenience of apartment life? Apartments can be great if you want less maintenance or love being close to the action. But buying an apartment isn’t exactly the same as buying a house—there are some key differences to know about when it comes to borrowing. Standard vs Non-Standard Apartments Banks…