Buying a House- Choosing a Lender?
Before you look choosing a lender that has the most competitive interest rates, you need to consider which ones will be more likely to approve your mortgage. There isn’t much point in applying if you’re only going to have your application declined and damage your credit file. Some Australian banks view New Zealand citizens more favourably because our governments have joint agreements for trade, residency and legal purposes.
In addition to this, our countries share the same credit reporting system known as VedaScore via Veda Advantage. For these reasons several banks see NZ citizens as low risk borrowers. You should conduct your own research on the best mortgage deals available and should consider using a registered Mortgage Broker to find you the best lenders as they will have a good understanding of which banks are easier to borrow money from if you’re a New Zealander living in Australia.