Rupert Gough 5/26/25 Rupert Gough 5/26/25

What Counts as Genuine Savings When Applying for a Mortgage?

Not all deposit money is created equal. When applying for a mortgage, banks often want to see that at least part of your deposit comes from genuine savings—money you’ve steadily put aside over time. But what counts as “genuine”? And how much do you actually need? In this article, we break down the types of savings banks love to see, which sources don’t qualify, and what to do if your deposit is mostly gifted or inherited. Understanding how genuine savings work can give you a stronger shot at mortgage approval—especially if you’ve got less than a 20% deposit.

Rupert Gough 5/26/25 Rupert Gough 5/26/25

What Is a Priority Amount in a Mortgage?

When you take out a mortgage in New Zealand, you might notice the phrase “priority amount” in your loan documentation. It’s often overlooked, but this little detail could raise eyebrows—especially if the amount listed is significantly more than you’re actually borrowing. So what is a priority amount, and should you be concerned?

Rupert Gough 5/26/25 Rupert Gough 5/26/25

Top 5 Most Useful Property Websites in New Zealand

Looking to research a property or better understand what your home—or future home—is really worth? These five websites are among the most trusted and useful tools in New Zealand for getting up-to-date valuations, sales histories, council rates, and market insights.

Rupert Gough 5/25/25 Rupert Gough 5/25/25

The Bank of Mum and Dad: Helping First Home Buyers the Right Way

As the dream of homeownership drifts further out of reach for many first-time buyers, the ‘Bank of Mum and Dad’ has become an increasingly common – and crucial – source of support. But how families structure that help can have long-term implications. Here's what you need to know before gifting or lending money for a home deposit.

Anne Miel 5/23/25 Anne Miel 5/23/25

4 Things You Can Do to Get Ready for Your Mortgage (No Matter When You’re Buying)

Thinking of buying a home now or even just “one day”? You don’t need to wait until you're house-hunting to start preparing. By taking a few simple steps now, you can put yourself in a far stronger position when the time comes to apply for a mortgage.

Rupert Gough 5/22/25 Rupert Gough 5/22/25

What’s the Minimum Deposit to Buy a House in NZ?

Wondering how much deposit you need to buy a house in New Zealand? Here's the 2025 guide to 5%, 10%, and 20% deposit options—and how to make yourself bank-ready.

Anne Miel 5/21/25 Anne Miel 5/21/25

Budgeting with PocketSmith

If there’s one budgeting app we rave about at Mortgage Lab, it’s PocketSmith. Proudly New Zealand-made and packed with powerful tools for tracking your income, expenses, and future goals, it’s our go-to recommendation for anyone looking to get their finances in order. Whether you’re saving for a home deposit or just want to understand your spending better, PocketSmith makes it easier—on desktop and mobile. Here's why we think it’s worth a look.

Anne Miel 5/14/25 Anne Miel 5/14/25

Purchasing at Auction – A Step by Step Guide

Bidding at auction can feel like a whirlwind of nerves and excitement—but with the right preparation, it doesn’t have to be intimidating. Whether you’re weeks out from auction day or already scouting open homes, understanding the mortgage and purchase process ahead of time can make all the difference. In this guide, we walk you through the steps to get auction-ready, explain the lingo you’ll hear on the day, and cover exactly what happens after the hammer falls.

Rupert Gough 5/5/25 Rupert Gough 5/5/25

When Do You Need a Registered Valuer’s Report When Purchasing a House?

A Registered Valuer’s Report is often essential when buying or building a home in New Zealand. Here’s when you might need one, what it involves, and why it’s different from other types of property estimates

Rupert Gough 4/25/25 Rupert Gough 4/25/25

Mortgage Strategies for Self-Employed and Gig Economy Workers

Navigating the mortgage process as a self-employed or gig economy worker in New Zealand presents unique challenges. This blog explores practical strategies for proving income, improving creditworthiness, and strengthening your home loan application.

Rupert Gough 4/22/25 Rupert Gough 4/22/25

What Are Terraced Houses—and Are They a Good Buy?

Terraced housing is rapidly rising in popularity throughout New Zealand’s urban centres. But what exactly are terraced houses—and are they the right choice for first home buyers or investors? We explain how they work, what to look out for, and why they could (or might not) be a smart addition to your property plans.

Rupert Gough 4/21/25 Rupert Gough 4/21/25

What to Check Before Buying a Property in New Zealand

Doing your homework before buying a home is one of the most important ways to reduce risk and avoid future regret. From LIMs to valuations, we break down what to check, who to talk to, and how to be a confident buyer before you make an offer.

Rupert Gough 4/17/25 Rupert Gough 4/17/25

Small Steps: Review Your Direct Debits

Tired of money quietly disappearing from your account each month? One small step that can make a big difference is reviewing your automatic payments and direct debits. This quick financial tidy-up could help you cancel forgotten subscriptions and free up extra cash.

Anne Miel 4/15/25 Anne Miel 4/15/25

When Should You Get Your Business Accounts Done for a Mortgage Application?

Self-employed and applying for a mortgage? Your financial accounts are key to proving your income. This guide explains when banks need your latest accounts and why getting them sorted early can make all the difference.

Anne Miel 4/14/25 Anne Miel 4/14/25

What Is Price by Negotiation?

Buying a house listed as “Price by Negotiation” can feel a bit uncertain—but it also comes with flexibility and the opportunity to negotiate a deal that suits both you and the vendor. Here’s how to approach this style of sale with confidence.

Anne Miel 4/13/25 Anne Miel 4/13/25

The Real Cost of Credit Cards on Your Mortgage Capacity

Credit cards are useful tools for everyday expenses, but they can seriously limit your ability to borrow for a home—regardless of how much you owe. Learn how lenders treat credit limits, how to optimise your financial position, and why trimming your plastic could be the key to unlocking your first (or next) mortgage.

Anne Miel 4/10/25 Anne Miel 4/10/25

Mortgagee Sales in NZ: Bargain or Big Risk?

Mortgagee sales can look like a steal—but they come with unique risks that every buyer must understand. From no guarantees on condition to potentially evicting the previous owner yourself, here’s what you need to know before signing anything.

Rupert Gough 4/9/25 Rupert Gough 4/9/25

What to Do if Your KiwiSaver Drops Before Buying Your First Home

You’ve found the perfect first home, but there’s a problem—your KiwiSaver has taken a hit due to a dip in the market. Suddenly, the deposit you were relying on isn’t quite enough. Don’t panic. Here’s what to do when your KiwiSaver drops in value just as you’re about to buy, and how to protect yourself with a smart strategy moving forward.

Anne Miel 4/8/25 Anne Miel 4/8/25

6 Tips for Bidding at Auction (and How to Prepare Like a Pro)

Buying at auction is fast, transparent, and often rewarding—but it’s also not for the faint-hearted. This guide covers everything from preparation to bidding tactics to help you win the auction without blowing your budget.

Anne Miel 4/7/25 Anne Miel 4/7/25

9 Tips for Making a Winning Offer by Tender

Thinking about making an offer by tender? Unlike auctions, tenders give you more flexibility, but success still hinges on preparation and strategy. In this guide, we share expert tips—beyond just price—to help you stand out and secure your dream property. From crafting a compelling offer to understanding the fine print, here’s what every buyer needs to know.