A mortgage adviser is a knowledgeable person who can guide you through the mortgage and purchasing process.
They have access to most banks and do the shopping around at no cost to you as the bank pays them.
They are generally experienced and have more options than an individual bank. There may only be one bank that will approve you and they will know which one. They offer a more personal approach as opposed to a call centre.

Generally yes. While a small collection or default will be accepted, recent larger defaults/collection over $1,000 will count against you.

There are second tier lenders who can help in this instance as long as you have 20% to 25% deposit.

Your borrowing ability will depend on your income. The higher the income the more you can borrow.
Individual circumstances will be taken into account such as debts, number of dependants, single/joint application, credit check, deposit.

It is an important first step to know you can get a mortgage and how much you can borrow. Completing a quick assessment form can give you a good gauge.
When you are ready an application can be made for pre approval which is generally valid for 90 days and can be renewed if need be

– An application form needs to be completed
– Provide proof of NZ citizenship or resident eg passport
– Last 3 wage slips each
– Proof of own funds eg balance printouts
– Last 3 months bank statements or internet printouts of income account

When you set up your mortgage you can make payment weekly, fortnightly or monthly. Once you have drawn your loan your first payment will be due on that payment cycle. eg 1 week later, a fortnight later, a month later.