You may have noticed that banks have become more flexible in their lending policies especially for borrowers whose deposit is less than 20%. In fact, you may have even seen some advertising on TV (Westpac) or on Facebook targeting first home buyers (ASB).

While the banks are certainly lending to people with low deposits (thats anything less than 20%) there are some tricks and additional costs for borrowers in this category — ever heard the term ‘lending creiteria apply’?

Sure, you’ve got to have good income, have saved your deposit and clean credit; everyone knows that. But let me tell you, there’s more to it than that.

In fact, we’re thinking of writing a short paper titled along the lines of ‘the truth about low deposit mortgages’ to help you understand exactly what we do to present you in the best light to a bank. Let us know if you’d be interested in reading that by flicking us a quick email to with the subject line “mortgage truths”


About Campbell Hastie

Cam is one half of Auckland based mortgage brokers, The Go 2 Guys.

He makes a living by sharing what he knows about mortgages with people, arranging mortgages for people and then insuring people.

He doesn't claim to know everything about mortgages himself which is why he teamed up with David Mercer — hence the ‘2’ in Go 2 Guys.

He writes posts regularly on his blog and has been told he has an ability to share his knowledge in a simple and sometimes memorable way.

Feel free to comment and ask any questions. Contact Campbell Hastie m: 027 697 7789.

Join me on Google Plus