Don’t allow your 2025 mortgage goals to rollover into 2026....then 2027...then 2028...
1. Say Good-Bye to Buy-Now-Pay-Later
These accounts such as Afterpay, ZIP etc. are a form of short term debt and make impulse purchases far more tempting. Instead of trying not to use it, you can send a request to actually close the account!
Additionally, this short term debt will impact your mortgage application.
To learn more, read our article all about Buy-Now-Pay-Later:
2. Regular Savings
Time to check that you’re saving with each pay check. Whether it’s $50, $100 or $1,000, key is ensuring it’s consistent and within your monthly budget.
This consistent habit is a great indication to the bank that shows good financial management and you can take on the additional costs of homeownership such as your mortgage repayments, insurance, maintainence etc.
3. Simplify your bank accounts
Recent Tik Tok trends have encouraged people especially younge Kiwi's to have 20+ bank accounts to manage their money. It’s important to choose a structure that works for you!
There’s no one size fits all and sometimes keeping it simple makes managing your money easier.
4. Pay bills and short term debt on time
This year aim for no overdue, late or bounced payments for short term debt. Mark the due dates in your calendar and set up an automatic payment to ensure funds are in the correct account beforehand.
Late or bounced payments do not demonstrate good account conduct to the bank and it can weaken your mortgage application.
5. Get specialised financial advice, early!
To truly understand your mortgage options and what needs to be done to achieve your goal, you need to seek specialised financial advice.
Spending time searching online and trying to compare your chances from anecdotal stories won't give you the clarity you need to understand where you are and how to work towards your goal.
Additionally a financial adviser can answer any questions or concerns you have early, ensuring you're not delaying your goals based on an assumption that may not apply to you.
Don’t allow your 2025 goals to rollover into 2026....
Book a Mortgage Review with our team ⬇️
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