FAQ's
Your Questions Answered
How can I make an appointment with you?
I make it easy for you to connect with me! You can:
Call me directly on 027 273 7411 or email me at kylee@ksmortgages.co.nz
Book an appointment for our initial chat through my website.
Click on Enquire Now to send through an enquiry form.
Start an application online if you’re ready to begin the process.
I'll be in touch to guide you through the next steps
What type of appointments do you offer?
To make things convenient for you I offer:
Zoom Appointments
Face to Face Appointments
Phone Appointments
Do I need to tidy up my bank statements before approaching a mortgage adviser?
No, you don’t need to worry about cleaning up you bank statements before coming to see us. As mortgage advisers, we review your bank statements to understand your financial situation. We’d rather you pass them over as they are, and we’ll go through them with you to assess what is important and identify areas we might need to work on.
How much deposit do I need to buy a home in New Zealand?
Generally, you’ll need 20% deposit for a home loan, but there are options for as little as 10% (and sometimes less) depending on your situation and the lender. We work with a variety of lenders and can help you find the right solution for your deposit size.
Will applying for a mortgage hurt my credit score?
A single mortgage inquiry won’t significantly impact your credit score. However, making multiple applications to different lenders in a short period can negatively affect your score. As your mortgage adviser, we can help manage the process to minimise any potential impact.
We’re paying rent every week, so we should be able to afford a mortgage, right?
While paying rent shows that you can manage regular payments, owning a home comes with additional expenses that renters don’t typically have, such as, property rates, home insurance, maintenance and repairs. It’s important to factor these costs into your budget when considering what you can afford to pay for a mortgage. We’ll help you understand the full picture and assess whether a mortgage is affordable for you.
Should I pay off all my debts before applying for a mortgage?
While it is important to manage your debt, you don’t necessarily need to be debt-free to get a mortgage. Lenders will look at your overall financial situation including your income, expenses, and how well you manage your debts. We can help figure out what’s best based on your specific circumstances.
How much can I borrow for a mortgage?
The amount you can borrow depends on various factors, including your income, expenses, and deposit size. As mortgage advisers, we can assess your financial situation and give you a realistic estimate based on your specific circumstances and current lending criteria.
What is Loan-to-Value Ratio (LVR)?
LVR is the percentage of the property’s values that you’re borrowing. For example, if you’re buying a property worth $500,000 and you have a $100,000 deposit, your loan will be $400,000, which means your LVR is 80%. In New Zealand, the standard LVR for most home loans is 80%, but certain circumstances may allow higher LVRs (such as for first home buyers) or require lower ones (like for investment properties).
Is it better to go with a fixed or floating interest rate?
It depends on your financial goals and risk tolerance. Fixed rates offer stability with set payments, while floating rates may fluctuate but can provide flexibility. We’ll discuss your options and help you choose a rate that fits your situation.
Can I get a mortgage if I have bad credit?
It might be more challenging, but it’s not impossible. Some lenders offer loans to people with less-than-perfect credit. We work with a panel of lenders and can help you find an option that works for you, even if your credit history isn’t ideal.
Is there a fee for using a mortgage adviser?
In most cases, our services are free for you, as we are compensated by the lender once your mortgage is approved and settled. We’ll always be transparent about any fees and will let you know if any apply to your specific situation.
How can I have an appointment with you?
Depending on what suits you best, we offer face-to-face, Zoom, and phone appointments. No matter where you are located, we can arrange an appointment at a time that’s convenient for you, making it easier to discuss your needs.