[ateal]

Could anybody tell me what the rule of thumb is for mortgage lending, i.e. will a bank lend you 3 times your annual salary for a house purchase or can you get more if you have no other loan/credit card commitments.

Any feedback would be welcome.

Thanks

Adrian

[Douglas]

Hi Adrian, this should answer most of your questions I hope. :smile

http://www.emigratenz.org/getting-a-mortgage-in-new-zealand.html

[ateal]

Douglas, thanks very much that site was very helpful. :nice1

[Moorf]

Err that's THIS site :laugh

[lidax]

Thanks Douglas

Nice page, gives good general advice.

Do have a question though.....mentions typical offer of mortgage is 4.5 times your gross salary assuming no other debts etc. What I was wondering is, is this assuming you do not have children/dependents?

Does the mortgage offer get reduced according to 'commitments' ie no of kids :wah :wah :wah :wah or in our case :wah :wah . Any ideas anyone?

regards