Pom_Chch

Hello fellow kiwi's!

Would anyone out there be able to recommend a good mortgage broker in the Christchurch area?

Good news and not all doom and gloom. I spent part of today phoning around banks and home loan providers. A lot are willing for offer a home loan without a 20% deposit. There is still hope! It is possible, however, home loan providers may up the interest rate if you do not have 20%, which is where a mortgage broker will come in handy.

Thanks

theghostofdustybin

NZHL

Slightly different from a broker but worth a chat.

TheCockneyKiwi

I met with a Mobile Mortgage lady from WestPac on Friday who was helpful. She mentioned they are one of the few banks that can lend a certain amount above the 80%.

What has been depressing is looking at "open houses" all weekend, realising that the house we love (in Beckenham) is way out of our budget (maybe)

davros1984

Exciting for you pom, best of luck with it!

If you do find one, let me know as who knows, one day we may head to the Garden City

Cheers.

Tom1983

The contacts who are helping us out are with these companies.

New build.co.nz
New Zealand home loans

I'll have to double check with them if I can recommend their services to you.

Westpac mortgage adviser at Rangiora could only offer mortgages above 80% when going for welcome home loan or construction (buy and build). They're more strict than the two above

I'll be speaking to them both again on Monday so I'll see if they are happy to help and then will pm you.

It is mostly for new builds but nz home loans were offering 5% to new customers if buying this month. However you had to be recommended by a customer

For old houses, absolutely zero chance unless in highly exceptional circumstances. You had to make an offer subject to finance. Mostly only accepting people with joint incomes over $160,000 is what the ANZ adviser told us.

Pom_Chch

Thanks for the info everyone. NZ Home Loans was one of the companies I called, the other was my bank (Westpac). Next weeks task will be to go in for meetings

We are looking outside of Chch (north) where prices are lower. I don't think we could afford to buy the type of property we desire in Chch city. I think we would have to make too many compromises.

Good luck with finding a place Cockney and Tom. Beckingham is lovely area, I work there. Gorgeous views of the Port Hills