How to use LoanMatch to check your home loan potential

LoanMatch is free to use and lets you quickly check your chances of getting pre-approval for a mortgage. It also lets you adjust your figures and immediately see the effect on your mortgage potential.

If your LoanMatch results look positive, we match you with a selection of trusted mortgage brokers from our hand-picked panel. Choose a preferred adviser, find out more about them and book your meeting, at a time that suits you. LoanMatch is a great way to find out where you stand right now. Here’s how it works.

Enter information and set up access

Start by answering a series of quick questions about your buying situation and the property you’re considering. Then enter your details and choose a password.

Completing this set-up process ensures you can sign in securely. It also means you can pause anytime, then come back and pick up from where you left off. Your data is safe with us, LoanMatch uses best-practice encryption to protect your information.

The LoanMatch dashboard for property buyers

Once you’ve completed set-up, you’ll see your LoanMatch dashboard. If you’re planning to buy a property, you will be presented with your financial snapshot. Alternatively, if you’re refinancing a property, you will see a range of refinance options. Jump to refinancing dashboard.

Your financial snapshot summary

Within your financial snapshot you can see a summary of the information you have provided, including a breakdown of your possible mortgage repayments – monthly, fortnightly and weekly amounts. Feel free to make adjustments to your property goal.

Your deposit & income

See how much your deposit is as a percentage of your property goal.

Strengthen your position by providing additional information as part of your deposit breakdown. This little bit extra will ultimately help your adviser and speed up your home loan application.

Be sure to provide more information in your income breakdown.

Add your partner’s income or any additional income you may have to strengthen your home loan potential. 

Your results

If your result is ‘strong’ or ‘medium’, you will be invited to connect to a mortgage adviser.

If your result is ‘not quite ready’, you can make adjustments. Possibilities include decreasing the value of your property goal, increasing your deposit with a cash gift or equity from another property, and increasing your income by adding rent from a flatmate/boarder/tenants or buying with a partner.

If you aren’t able to change your result to medium or strong, don’t worry – we’ll look after you with our free nurture programme. You’ll receive online resources and tips that will help you to move forward

The LoanMatch dashboard for refinancing

The refinancers dashboard presents a ‘stay vs switch’ assessment to help you decide which lender and rate/term is best for you.

Make adjustments to your term, payment type and repayment frequency to see how much you could save.

Compare between your current lender’s rates and the market’s best rates. Once you’ve done your research, get connected with an adviser.

Chose an adviser from our panel

We’ll match you to a selection of our hand-picked advisers. Find out more about them, check their availability and choose the person who feels right for you.

Book in your adviser at a time that suits you

Using the calendar, you can book a 30-minute video call with your preferred adviser. Choose a date and time that suits you.

FAQs...?

LoanMatch uses an algorithm to assess your chances of getting a loan, based on current loan criteria for major home lenders. It’s the only tool of its kind in New Zealand and it costs nothing to use. LoanMatch can also take you to the next step with your plans, by offering you a choice of mortgage advisers who are matched to your location and needs.
If you get the ‘not quite ready’ result from LoanMatch, which suggests you won’t currently be approved for the loan you need, you can explore your inputs to find a solution. For example, you could adjust to a cheaper property, a bigger deposit or a higher income. If you aren’t able to change your result to Medium or Strong, don’t worry we’ll look after you with our free nurture programme. You’ll receive online resources and tips that will help you to move forward.
Selling assets or receiving an early inheritance from family could grow your deposit. Getting a flatmate or working overtime could increase your income. A brainstorm with people you trust could reveal your path to a stronger financial position.
A positive LoanMatch result doesn’t guarantee lender approval. Our tool is designed only to provide a quick indication for you and your mortgage adviser. These calculations have been formulated through market research and in consultation with our adviser panel, based on data from recent home loan pre-approvals.
The LoanMatch formula is constantly monitored. We make changes to adjust for OCR announcements, bank serviceability increases and differing market conditions, via the latest adviser feedback.
Yes! When you’re getting into the New Zealand property market for the first time, using LoanMatch to understand your chances of getting a home loan can give you confidence to move forward. And if the result isn’t as good as you hoped, you’ll know what action you can take to improve your position.

Try out LoanMatch today.

Check your chances of a home loan and get matched with a top adviser. Use LoanMatch to quickly determine if you are mortgage ready. It helps you understand your likelihood of pre-approval and puts you on the pathway to home ownership.

DISCLAIMER: The information contained in this article is general in nature. While facts have been checked, the article does not constitute a financial advice service. The article is only intended to provide education about the New Zealand mortgages and home loans sector. Nothing in this article constitutes a recommendation that any strategy, loan type or mortgage-related service is suitable for any specific person. We cannot assess anything about your personal circumstances, your finances, or your goals and objectives, all of which are unique to you. Before making financial decisions, we highly recommend you seek professional advice from someone who is authorised to provide financial advice.

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