Can I get a mortgage as a single parent?

Attempting to apply for a mortgage as a single parent can feel like an overwhelming task, especially if you are unsure of where to start. Whether you are joining the property ladder for the very first time, or have recently become single, there are a wide range of options for single parents looking to sort their mortgage. 

Having the worry of not being accepted for a mortgage might be causing you some anxiety. Fear not, because it is most certainly possible for single parents to get a mortgage. The first step to take is to speak to a mortgage advisor for some advice. 

Speak to a mortgage advisor in NZ 

Understanding how home loans work can be complicated, especially for those just entering the property ladder; which is why having a chat with a mortgage advisor can be beneficial. 

Mortgage advisors have an understanding of the different mortgages available, as well as the rules and regulations. On top of this, they will be able to learn about your situation and identify the best options out there for you. 

Questions mortgage advisors will be able to answer for you, are: 

  • How much you can borrow? 
  • How long it takes to get a loan pre-approved?
  • How long does it take to get a confirmation on whether your application has been approved or denied? 
  • What is the best interest rate available? 

Potential roadblocks

To be eligible for a mortgage as a single parent, you must meet a lender’s affordability criteria. Many single parents have a low income due to their responsibilities as a parent. This may have an impact on the amount of money you can borrow. Your mortgage advisor will discuss this with you and go through your options.

Are you a single parent looking to find a mortgage advisor nz? We are proud to have some of the best mortgage advisors in Auckland New Zealand on our friendly and professional team. Simpler will work with you to understand your financial situation and guide you through the mortgage process. No matter where you’re based, our team is here to help you!

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