Finance Declined!

Auckland's housing market has stalled in the last three months, James Steele, QV Auckland senior consultant, said sales volumes were down to very low levels because demand was halted "by the ability for purchasers to finance property deals”.

This comment and others in the media recently follow on from my Blog

a few weeks ago “Are the banks running out of money”

Yes, finance is harder to get than it was 6 months ago. Banks are looking very closely at not only the financial position and history of the applicant but also their experience and character. I don’t expect this situation to change any time soon and I expect it will become a long-term feature of our finance markets. As you only get one shot at the bank, now more than ever it is imperative that you seek professional advice before you talk to the bank. You may be surprised how banks react differently to the same information. This is an area I specialise in, getting applications across the line and it’s the little things that can be important. Always remember, banks make money by lending money. The secret is in the story and how it’s told!