Has Your Bank Said No to a Home Loan?
If your bank has declined your home loan application, don’t lose hope. A 'no' from one bank doesn’t mean every bank or lender will say no. Contact Mortgage Field for a friendly chat to explore your options.
With our expertise, we may be able to revisit your application with your bank and find a solution. If not, we have access to a wide network of lenders and banks in New Zealand to meet your home loan needs.
Why Choose Mortgage Field?
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Free Home Loan Advice Across New Zealand
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One completed home loan application gives you access to top New Zealand banks and lenders, including ASB, ANZ, BNZ, Westpac, SBS Bank, The Co-Operative Bank, and many more.
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We prioritise your interests and ensure transparent, unnecessary charges are avoided.
How to Apply for a Home Loan with Mortgage Field
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Request an Online Home Loan Application: Simply email us to get started.
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Contact Us: Reach out via phone, email, or our website to arrange a personalised consultation.
Common Reasons Banks Decline Home Loan Applications:
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Lacking Documentation
Missing paperwork is a common reason for loan denial. Talk to your bank to understand what's needed or consult a Southland mortgage broker for guidance. -
Not Enough Income
Your income must cover both your mortgage and living expenses. Banks use the Debt-to-Income (DTI) ratio to assess this. If your DTI exceeds 40%, your application may be declined. Consider looking at more affordable properties, increasing your income, or reducing short-term debt. -
Self-Employment Challenges
Being self-employed doesn’t disqualify you from a home loan, but proving stable income can be challenging, especially for contractors or part-time workers. A mortgage broker can guide you on how to present your financials effectively. -
Poor Credit History
Banks review your credit history, including credit cards, personal loans, and missed payments. If poor credit is an issue, non-bank lenders might offer solutions—though often at higher interest rates. Consult a mortgage broker to explore these options. -
Low Deposit
A small deposit might affect your eligibility, but many banks offer low-deposit lending options. Your mortgage broker can advise on strategies to increase your deposit or find suitable lenders.
Get Expert Help Today
Don’t let a declined application stop you from owning your dream home. Contact Mortgage Field for expert advice, tailored solutions, and access to a wide range of lenders across New Zealand.
Call us today, email us, or visit our website to get started on your home loan journey.