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Top 7 Mistakes Kiwis Make When Applying for Home Loans

Common Mistakes
Andreas Wijaya
January 2025
6 min read

Applying for a home loan? Here are 7 common mistakes Kiwi borrowers make and how to avoid them:

1

Going Straight to the Bank

Banks only offer their own deals. I will compare all lenders, so you get the best option, not just one bank's offer.

2

Forgetting About Hidden Costs

Home loans involve more than just interest rates. Watch out for:

  • Bank fees
  • Valuation reports
  • Legal costs
3

Not Structuring the Loan Properly

Interest-only? Fixed? Floating? Split loans?

The wrong structure can cost you thousands. I will help you set it up right.

4

Overborrowing

Just because you're approved for a big loan doesn't mean you should take it. Leave room for unexpected costs.

5

Not Checking Your Credit

A missed bill from years ago can derail your application. I will help you check and tidy up your credit report.

6

Waiting Too Long

Banks and lenders are slow. Start the process early so you're ready to move fast when you find the right property.

7

Trying to Do It Alone

A home loan is one of the biggest financial decisions of your life. Get advice—it's free, and it can save you thousands.

Want help avoiding these mistakes?

Let's have a chat and make sure you get the best deal possible.

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