OHbaby! Forums : Buying a house https://www.ohbaby.co.nz/forum/ Copyright (c) 2006-2013 Web Wiz Forums - All Rights Reserved. Mon, 04 May 2026 12:24:02 +0000 Sun, 22 Sep 2013 03:23:00 +0000 http://blogs.law.harvard.edu/tech/rss Web Wiz Forums 12.05 360 https://www.ohbaby.co.nz/forum/RSS_post_feed.asp?TID=34840 <![CDATA[OHbaby! Forums]]> https://www.ohbaby.co.nz/forum/forum_images/web_wiz_forums.png https://www.ohbaby.co.nz/forum/ <![CDATA[Buying a house : Followup- yes she did eventually...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=5849250&title=buying-a-house#5849250 Author: tictacjunkie
Subject: 34840
Posted: 22 September 2013 at 3:23am

Followup- yes she did eventually get the house, had to have her parents on the loan, not ideal but done.]]> Sun, 22 Sep 2013 03:23:00 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=5849250&title=buying-a-house#5849250 <![CDATA[Buying a house : I got my mortgage through National...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=5799747&title=buying-a-house#5799747 Author: Shelt
Subject: 34840
Posted: 25 May 2012 at 9:49pm

I got my mortgage through National Bank, I didn't exactly have a smooth ride with them though. I had a similar issue, they didn't want to count child support and WFF in my income and they took net income but counted my student loan repayments as an expense even though they come out of my gross wages. Dumbasses. Anyway, tell your friend to ask at the bank about what they base the value of the house on. I got my mortgage in the end because the bank based the value of the house (the purchase price) on the amount we had agreed to in the relationship property settlement rather than having to get a valuation done. In my case we agreed on the value of property that gave the bank the ratio that they needed but meant I didn't have to pay my ex out anything (bit complicated to explain but we brought when the market was high so we didn't have any equity).
If you want to know more just PM me. Good luck to your friend, I hope she gets her mortgage.]]> Fri, 25 May 2012 21:49:19 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=5799747&title=buying-a-house#5799747 <![CDATA[Buying a house : Further info, she&#039;s not on...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=5799699&title=buying-a-house#5799699 Author: tictacjunkie
Subject: 34840
Posted: 25 May 2012 at 4:09pm

Further info, she's not on a benefit, the banks hang up was not wanting to include child support as part of income, even though her job and WFF payments are more than enough to cover mortgage repayments.]]> Fri, 25 May 2012 16:09:00 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=5799699&title=buying-a-house#5799699 <![CDATA[Buying a house : Just bumping this thread for more...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=5799698&title=buying-a-house#5799698 Author: tictacjunkie
Subject: 34840
Posted: 25 May 2012 at 4:04pm

Just bumping this thread for more info for a friend. She's solo mother two kids, trying to buy out the ex as he wants his cash yesterday. What banks have you had success with? ANZ has just turned her down (after initially saying it would be ok, ).
Thanks]]> Fri, 25 May 2012 16:04:57 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=5799698&title=buying-a-house#5799698 <![CDATA[Buying a house : Sounds great Shelt!!!!!! I&#039;m...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1427448&title=buying-a-house#1427448 Author: Free2BeMe
Subject: 34840
Posted: 01 February 2012 at 7:01pm

Sounds great Shelt!!!!!!

I'm in the process of buying a place at the moment, I have a decent deposit from when the ex and I sold our house, but thought no bank would touch me as I'm on the dpb, but a lovely mortgage broker managed to get a bank to offer me a mortgage, so I might have my very own place for me and my 3 boys to live in soon... :)]]> Wed, 01 Feb 2012 19:01:44 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1427448&title=buying-a-house#1427448 <![CDATA[Buying a house : That&#039;s freaking awesome Shelt...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1397345&title=buying-a-house#1397345 Author: minik8e
Subject: 34840
Posted: 11 October 2011 at 10:03am

That's freaking awesome Shelt - congrats!!]]> Tue, 11 Oct 2011 10:03:29 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1397345&title=buying-a-house#1397345 <![CDATA[Buying a house : yay Shelt , good on you!!!!! ]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1396431&title=buying-a-house#1396431 Author: julz85
Subject: 34840
Posted: 07 October 2011 at 5:44pm

yay Shelt , good on you!!!!! ]]> Fri, 07 Oct 2011 17:44:42 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1396431&title=buying-a-house#1396431 <![CDATA[Buying a house : Aw Shelt thats fantastic!!!! Congrats...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1396078&title=buying-a-house#1396078 Author: Babe
Subject: 34840
Posted: 06 October 2011 at 8:57pm

Aw Shelt thats fantastic!!!! Congrats hun ]]> Thu, 06 Oct 2011 20:57:44 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1396078&title=buying-a-house#1396078 <![CDATA[Buying a house : Thanks I am so stoked! ]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1396051&title=buying-a-house#1396051 Author: Shelt
Subject: 34840
Posted: 06 October 2011 at 8:16pm

Thanks I am so stoked!]]> Thu, 06 Oct 2011 20:16:00 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1396051&title=buying-a-house#1396051 <![CDATA[Buying a house : Congratulations, Shelt! You deserve...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1395679&title=buying-a-house#1395679 Author: ....
Subject: 34840
Posted: 05 October 2011 at 10:16pm

Congratulations, Shelt!
You deserve it!]]> Wed, 05 Oct 2011 22:16:40 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1395679&title=buying-a-house#1395679 <![CDATA[Buying a house : Just as a side note - I can&#039;t...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1395662&title=buying-a-house#1395662 Author: Shelt
Subject: 34840
Posted: 05 October 2011 at 9:47pm

Just as a side note - I can't believe I've been a solo parent for nearly 2 years now! Man time flies.]]> Wed, 05 Oct 2011 21:47:10 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1395662&title=buying-a-house#1395662 <![CDATA[Buying a house : This is an old thread, but just...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1395661&title=buying-a-house#1395661 Author: Shelt
Subject: 34840
Posted: 05 October 2011 at 9:45pm

This is an old thread, but just as an update - the bank are finally letting me transfer the mortgage to my name only. My ex and I will have been seperated 2 years in a month's time (yay, can finally sign those divorce papers!) and I have been paying the mortgage all by myself for over 18 months now. They have finally come to the party and next Wednesday is settlement day!]]> Wed, 05 Oct 2011 21:45:41 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1395661&title=buying-a-house#1395661 <![CDATA[Buying a house : Its actually alot easier than...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1205034&title=buying-a-house#1205034 Author: HuntersMama
Subject: 34840
Posted: 21 November 2010 at 9:31pm

Its actually alot easier than I thought and we have had heaps of interest. Hopefully will get an offer agreed on tomorrow!

I advertised on TM, got some open home signs made up online and bought a for sale sign from Bunnings. A friend who is a graphic designer made me some flyers which I used for a mail drop and for the open homes. We get atleast 3-4 groups through the open homes on both days. Just trying to think what else....we got a blank sale and purchase agreement from an agent and filled the bits in ready for when people made offers.

Friday night I put up the open home sign and make sure the house is nice and clean. Saturday and Sunday I do open homes and then I have my parents helping to deal with people making offers. Its a but stressful, but well worth it if you take into account agents fees!

It probably also pays to have a lawyer that you can run things past, just to make sure you do everything right. I am surprised at how manageable it is.

Let me know if theres anything I can do to help - Im no expert but I do have a bit of info that might be useful.]]> Sun, 21 Nov 2010 21:31:31 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1205034&title=buying-a-house#1205034 <![CDATA[Buying a house : No Lil_Nic9, I&#039;ve been down...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1204953&title=buying-a-house#1204953 Author: Shelt
Subject: 34840
Posted: 21 November 2010 at 7:59pm

No Lil_Nic9, I've been down that road and there is no way they can help out.

How are you getting on with selling privately HuntersMama? I am looking at selling privately too but am a bit worried about how to go about it.]]> Sun, 21 Nov 2010 19:59:17 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1204953&title=buying-a-house#1204953 <![CDATA[Buying a house : I know what your going thru Shelt!...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1204075&title=buying-a-house#1204075 Author: HuntersMama
Subject: 34840
Posted: 19 November 2010 at 9:36pm

I know what your going thru Shelt! I dont want the headache of a mortgage by myself so weve put the house on the market too. And guess who has done all the work for that too - yip you guessed it! We are selling privately so me and my family/friends have spent heaps of time getting the house tidy and doing the open homes while he has done nothing at all.]]> Fri, 19 Nov 2010 21:36:05 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1204075&title=buying-a-house#1204075 <![CDATA[Buying a house : Is there anyway your family can...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1204026&title=buying-a-house#1204026 Author: High9
Subject: 34840
Posted: 19 November 2010 at 8:31pm

Is there anyway your family can help you out a bit??]]> Fri, 19 Nov 2010 20:31:25 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1204026&title=buying-a-house#1204026 <![CDATA[Buying a house : I have just been to the bank today...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1204009&title=buying-a-house#1204009 Author: Shelt
Subject: 34840
Posted: 19 November 2010 at 8:13pm

I have just been to the bank today and applied (again) to take over the ex and I's joint mortgage. They denied me (again). Gutted coz they basically said that on my income (which isn't even that low - I'm a qualified chartered accountant and even part time earn in the mid 40's, plus family assistance and child support) there is no way they will ever sign the mortgage over to me So back to square one now - the ex has basically made the whole thing my problem so I guess I will have to look in to putting the house on the market now.]]> Fri, 19 Nov 2010 20:13:33 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1204009&title=buying-a-house#1204009 <![CDATA[Buying a house : Banks are alot tougher now than...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1176311&title=buying-a-house#1176311 Author: HuntersMama
Subject: 34840
Posted: 13 October 2010 at 2:04pm

Banks are alot tougher now than they were when we got our mortgage, and I have been told they will probably apply the new 20% deposit/equity rule as a minimum. The valuer should be here any minute so fingers crossed he values the house atleast at what it was when we bought it so it will look better for me.

I used my parents house as equity and wouldnt recommend it. Even if we have to sell this place, I will save like crazy over the next 2 years and have more than enough for a deposit on a smaller place. That might even be the best option, depending on the valuation.]]> Wed, 13 Oct 2010 14:04:31 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1176311&title=buying-a-house#1176311 <![CDATA[Buying a house : Oops - no - I&#039;m a plonker!!...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1174965&title=buying-a-house#1174965 Author: happymumma
Subject: 34840
Posted: 11 October 2010 at 8:36pm

Oops - no - I'm a plonker!! I meant the Kiwsaver thingy where you can withdraw from that for a deposit.  Sorry - half asleep!!

We probably have a little more in equity but not much.  It's tricky isn't it?  But at the same time, it's really nice to know that there seem to be a few of us in the same sort of situation.

]]> Mon, 11 Oct 2010 20:36:08 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1174965&title=buying-a-house#1174965 <![CDATA[Buying a house : Kate - do you mean the Welcome...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1174950&title=buying-a-house#1174950 Author: minik8e
Subject: 34840
Posted: 11 October 2010 at 8:29pm

Kate - do you mean the Welcome Home Loan? If so, it doesn't have to be your first house, you just can't own another house at the same time (as one of the requirements is that you live in the house). Our current mortgage is a Welcome Home Loan, but through SBS. Thankfully we are getting around the requirements as ex is still technically living in the house, so it meets the "living in house" requirements. We are fixed until February, but I am trying to find out if we can break the term and add any penalty to the mortgage. We have about 5% equity at the moment, which is not a lot.

I am also hoping, once things settle down and the house etc is sorted out, that I will be able to access the scheme again for a house for the girls and I.]]> Mon, 11 Oct 2010 20:29:27 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1174950&title=buying-a-house#1174950 <![CDATA[Buying a house : Do your parents own their home?...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1174918&title=buying-a-house#1174918 Author: High9
Subject: 34840
Posted: 11 October 2010 at 8:05pm

Do your parents own their home? You may be able to take a mortgage out against their home to buy out your partner if that makes sense? A friend of ours did this recently to buy a house.]]> Mon, 11 Oct 2010 20:05:51 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1174918&title=buying-a-house#1174918 <![CDATA[Buying a house : Also very interested here in your...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1174898&title=buying-a-house#1174898 Author: happymumma
Subject: 34840
Posted: 11 October 2010 at 7:50pm

Also very interested here in your progress.  There is no way in a million years that my ex would consider just transferring the house over.  He sees it as a major money earner for himself despite the fact that we are unlikely to make very much money on it at all and despite the fact that it provides a stable home for his children.

We are fixed for another year so I have a little time on my side but I'm going to be very sad to have to leave this house if it comes to that. 

Have any of you looked into whether as a single person you would be able to use the house deposit scheme via Kiwibank?  I was wondering whether circumstances changing so that you are buying for the first time on your own would mean qualifying for it.

]]> Mon, 11 Oct 2010 19:50:57 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1174898&title=buying-a-house#1174898 <![CDATA[Buying a house : I&#039;d be interested to know...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1174035&title=buying-a-house#1174035 Author: Shelt
Subject: 34840
Posted: 10 October 2010 at 9:09pm

I'd be interested to know what they say. I haven't been brave enough to go back to the bank and ask if their criteria have changed.]]> Sun, 10 Oct 2010 21:09:02 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1174035&title=buying-a-house#1174035 <![CDATA[Buying a house : I am hoping the bank will also...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1173788&title=buying-a-house#1173788 Author: HuntersMama
Subject: 34840
Posted: 10 October 2010 at 3:33pm

I am hoping the bank will also transfer our mortgage into my name. We only have about 10% equity and I would like to rent it out with my Dad going guarantor. Eeek! Thats scary if the banks want 30% equity for a rental. We are getting valuations done this week and hopefully off to the bank next week to see what my options are. ]]> Sun, 10 Oct 2010 15:33:57 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1173788&title=buying-a-house#1173788 <![CDATA[Buying a house : Hi, I feel for you. I am lucky...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1123181&title=buying-a-house#1123181 Author: wellymummy
Subject: 34840
Posted: 10 August 2010 at 7:31pm

Hi, I feel for you. I am lucky in that the bank are happy to transfer the mortgage into my name on receiving a signed separation agreement. My ex and I have only onwed the home for 2 years so we have bugger all equity in it, and he doesnt want any of it....is happy for me to keep the house and the mortgage.]]> Tue, 10 Aug 2010 19:31:34 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1123181&title=buying-a-house#1123181 <![CDATA[Buying a house : Hmmm, I am basically in the same...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1105795&title=buying-a-house#1105795 Author: Shelt
Subject: 34840
Posted: 21 July 2010 at 9:28pm

Hmmm, I am basically in the same situation at the mo except that I have until December to sort something out. I have the house rented out at the mo and pay all the mortgage and expenses on it myself, which G and I live with my parents temporarily.

The bank told me that there was no way I could remortgage it in my own name without at least 20% equity if I was living in it, or 30% if it was going to be rented out. And that was with a fairly reasonable surplus income each week including the rent. Basically they said that they treat it as a new application for a mortgage and they don't consider the fact that you already partly own the house.

I don't have any answers as yet (wish I did) but I just wanted to let you know that I understand the predicament. My advice would be to see the bank first (or a mortgage broker) then at least you know what you need to aim for. They aren't going to call in the mortgage as long as you are still making the payments so you basically have nothing to lose by laying your cards on the table and asking them what your options are. For me I have come to the conclusion that as long as I can sell the house for what the mortgage is then I would probably be better off saving some money and putting it in investments, as the stress of meeting the payments without the rental income is probably going to be too high, and there is no way I could come anywhere close to the 30% equity barrier (we brought the house in 06 when banks were lending 97% of what the house was worth).

Also, one bonus with not having to find a solution till late next year is that the bank told me they are likely to relax their lending criteria again in the medium term - that might mean they may lend you the money next year even if this year their answer is no.]]> Wed, 21 Jul 2010 21:28:51 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1105795&title=buying-a-house#1105795 <![CDATA[Buying a house : I saw a mortgage broker BEFORE...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1105285&title=buying-a-house#1105285 Author: lilfatty
Subject: 34840
Posted: 21 July 2010 at 3:14pm

I saw a mortgage broker BEFORE we sold and he let us both know (myself and my ex) what we could borrow in terms of our income.

Then we knew how much we had to sell the house for so that we both came out with enough to move on.

Hopefully that helps some.]]> Wed, 21 Jul 2010 15:14:05 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1105285&title=buying-a-house#1105285 <![CDATA[Buying a house : I&#039;m wondering whether anyone...]]> https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1105252&title=buying-a-house#1105252 Author: happymumma
Subject: 34840
Posted: 21 July 2010 at 3:00pm

I'm wondering whether anyone has any tips on getting a mortgage as a single parent?

We currently still jointly own the house we bought together and I live in it with the children and pay the mortgage on it.  I don't have a lump sum to buy him out with and I will be pretty borderline in terms of having the income that a bank would normally want in terms of increasing the mortgage to buy him out.

My concern is that if I let this house go it will be even harder to get into the property market starting from scratch whereas at least at the moment I jointly own and can show that I have been paying the mortgage. 

I have until Oct next year to come up with a solution or find some money!

Any suggestions?

]]> Wed, 21 Jul 2010 15:00:09 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=34840&PID=1105252&title=buying-a-house#1105252