See exactly what a bank sees before you apply. Spendle helps you clean up the red flags, gather your savings evidence, and share a tidy report with your broker, so you can walk in calm and prepared.
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Once you can see your application the way a bank does, the whole thing gets a lot calmer. Here is what they weigh up.
Banks want to see income that is steady and reliable. For salaried work that usually means recent payslips; if you are self-employed they often look at one to two years of financial statements. Predictable income is easier to lend against.
Banks review your actual bank statements, not just the expenses you declare. The daily coffees, subscriptions and weekend takeaways all count, because the bank is working out how much is genuinely left over each month. Tidy, well-categorised statements help your case.
Every commitment reduces how much a bank will lend. That includes car and student loans, and two that catch people out: credit card limits (often counted in full even at a zero balance) and Buy Now Pay Later use, which can read as a sign that day-to-day spending is tight.
Banks check your credit record to see how you have handled credit before. Missed payments, defaults and lots of recent applications can leave a mark. The fix is usually simple: pay on time, and give any blemishes time to age.
How much deposit you have changes everything, including your interest rate. Banks also want to see the deposit is genuinely yours, whether it is savings, KiwiSaver, or a documented gift, and a steady savings record is strong evidence you can manage repayments.
As general guidance, not advice: lending rules limit borrowing to around six times your gross income (your DTI), and banks often stress-test your loan at around an 8% serviceability rate rather than today’s actual rate. The exact figures move over time.
Spendle provides information to help you prepare. It is not a lender or a licensed financial adviser, and the figures it shows are indicative. Lending decisions, rates and criteria are set by banks and can change. For advice tailored to your situation, talk to a mortgage adviser or your bank.
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