Downsize your debt
Any mortgage lender is going to be a bit wary of lending you a large amount of money for your home if you have a high level of debt. This is because they can’t be certain that you have the ability or the discipline to keep up your mortgage payments. So before you really dive into the home-buying process, make sure that you have cleared as much of your debt as possible.
Show your saving skills
As well as proving that you can keep on top of your debt, lenders like to see that you can save money as well. Not only will you need to service your mortgage, there are also other expenses that come with owning a home, such as insurance, rates, and other potential maintenance costs. It’s important to demonstrate to the lender that you have a good amount of money to cover everything you need in relation to your new home.
Clean up your accounts
When you’re applying for a mortgage, your lender will want to see the activity in your bank account, usually the last 3 months’ worth of bank statements. In these, they’re looking at your spending habits and whether you often have unauthorised overdrafts or other negative habits. If they can see that you’re regularly blowing all of your money on eating out, this might not show you in the best light, so it’s best to get some good spending habits going before you visit your lender.
Get your deposit together
This is probably the most important thing you can do with regards to getting a home loan – if you don’t have your deposit sorted, you probably shouldn’t be house-hunting just yet! Although some lenders can work with lower deposits, you should be getting together a minimum of 20% for your deposit. If you can save more, that’s great! The more you have, the less you might have to borrow and the more appealing you’ll look to your lender.
If you’re not sure where to start, or you just want some more information on the lending criteria for home loans, get in touch with our expert mortgage team today.
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Refer someone else to complete a financial review with any of Haven’s advisers for any service during the entry period and if they complete the review you will receive one entry each into the Competition.
The Winners will be determined by Haven Financial Advisers and will be final and no correspondence will be entered into.
The Winners will be notified by email, phone (voice or text), mail or in person. Where attempts to contact a Winner fail (e.g. when the Winner cannot be contacted by phone after three attempts or mail sent is returned) Haven Financial Advisers will select another winner. If, after successful notification, the prize is not collected within two months of being announced, it will be regarded as forfeit. (Note: 3 attempts to contact the Winner will include individual calls to any numbers provided at the time of entry.
Where the Winner is required to claim the prize in person, they must provide proper identification (eg driver’s licence, passport, birth certificate).
The Winner takes the Prize entirely at his/her own risk and indemnifies Haven Financial Advisers in respect of any claim for any accident, injury, property damage or loss of life that may occur in connection with the prize. The Winner is responsible for all insurance, tax or other costs that may be associated with the Prize. Where the Prize has associated terms and conditions the Winner accepts the Prize subject to those terms and conditions and restrictions.
The Prize must be taken as stated and no compensation will be payable if the Winner is unable to use the Prize as stated.
The Promoter (Haven Financial Advisers Limited) will not be liable for any prize(s) that do not reach the winners for reasons beyond the Promoter’s reasonable control. Where a prize is being supplied by a third party, the Promoter accepts no responsibility in connection with the provision of the prize, including without limitation, the failure of the winner to receive ownership of, or use of, the prize or any performance issues associated with the prize.
The Promoter will not be liable for failure to provide (or delay in providing) the Prize resulting from any events, circumstances or causes beyond its reasonable control, including but not limited to acts of god (natural disasters), acts of war or terrorism, national emergencies, issues of public health and safety, pandemic, mechanical breakdown, industry disputes, riots or failure of communication or power supply or voluntary or involuntary compliance with any regulation, law or order of any government.
Prizes may be subject to additional terms and conditions imposed by a third party.
The Promoter will not be responsible for any loss or damage suffered by entrants or anyone else as a result of, arising out of, or in any way connected with the Promotion or its prizes.
The Promoter collects and holds personal information provided by entrants for the purposes of administering this Promotion and for future Promoter promotional purposes. All personal information provided by entrants will be held by the Promoter and will not be provided to third parties unless otherwise specifically set out. Under the Privacy Act 2020, entrants have the right to access and correct their personal information.
The Haven Travel Promotion is only open to legal residents of New Zealand who are eighteen (18) years of age or older.
Disqualified Participants’ are: (a) all Haven Financial Advisers employees (b) all people under the age of 18 years.
The Competition begins on Monday 13th March 2023 to Wednesday 31st May 2023.
Complete a financial review with any of Haven’s advisers for any service during the entry period and you will receive one entry into the Competition.
The final winner will be drawn on Monday 5th June via random selection by Haven Financial Advisers.