Key tips to getting the right bank outcome.

When looking to apply for a mortgage to buy your first home or subsequent home, it’s a good opportunity to actively take control of the things you can to assist you to get the right outcome.

Below are some tips for looking at your finances and to reassess what is important to you and your family.

1. Do a Budget - Go through your bank statements and look at where your money is spent – what changes can you make in your discretionary spending to increase your deposit or your ability to repay the debt each week?

2. Look at your subscriptions - are you using them? Do they fit in your lifestyle? Can you put them on hold? Do they need to be cancelled?

3. Look at your consumer debt - personal loans, credit cards, hire purchases - are the repayments manageable, or would life be easier if they were consolidated into one payment each week or fortnight?

4. Research the costs associated with owning a home – rates, insurance and home maintenance

5.  Check your account conduct – do you have missed payments or unauthorised overdrafts you could tidy up – track your spending and ensure your account conduct is impeccable for the bank to have comfort in you making your repayments each week

Now more than ever, we all need some sound financial advice - please do call me (022 464 1044) or email me at dawn.stoddart@loanmarket.co.nz, or visit my Loan Market website at the above link if you are having any concerns or want to discuss your options to make life a little easier for you and your family.

Take time to assess where you are right now and what your goals are, going forward – what can you change?