Been turned down by your bank? We can help.

Non-Bank Lending

Rethink specialises in finding home loan solutions for you when the Bank says “No”. Are you finding it hard to secure a mortgage because you haven’t got the relevant or ‘right’ documents for the banks? Home loan applications can be tricky to navigate at the best of times – especially when you don’t have the right documents to prove your income, or your documents are simply not available to you, it can be even tougher.

A non-bank solution may just be the answer you’re looking for. Non-bank lenders and finance companies are increasing with popularity right now as it gets tougher to be approved at the bank.  They provide long and short-term solutions until you’re able to get bank funding again.

Self-employed New Zealanders may also have trouble providing documentation to banks if they haven’t been in business long enough or aren’t able to provide the required financial information to the bank.

Low doc (low documentation) means not having to prove your income using company Financial statements. This can include commission sales, overseas income or simply the income in the company financials has dropped due to COVID-19 and now don’t meet the banks lending credit policy. We can instead provide options for using GST returns, or 1 year company financials. Low doc mortgages are not available from the banks anymore, so we have special arrangements in place to help out. They can also be useful for short-term development funding, or to clear that IRD tax debt, which banks are generally not keen on.

Home loan calculator

Use this calculator as a guide to find out what your home loan repayments could be.

How can we help if you’ve been turned down by your bank?


Has the Bank said “NO”?

Have you been declined by your Bank as your income is seasonal or hard to prove as you do not have current financial data from your Accountant? Perhaps you have only been in business 6 months? The product that may help you is known as “Low Doc”, “Lo Doc”, or a “Non Conforming” Loan. This is an exciting product that has allowed many self-employed and small business owners the opportunity to buy homes, investments, or access equity in their property.


Bad Credit?

A lot of people only find out they have a credit history issue after applying for a mortgage and being rejected because of what the lender found on their credit report.
But having a poor credit history does not mean you have to wait to get into (or back into) the property market.

The good news is that there are lenders who will potentially allow you to borrow even if you have multiple credit issues.


Have a low deposit?

The good news with banks is that they’re starting to lend up to 90% again and there are other lenders – non-banks who will still go up to 90%. In either of these circumstances the lenders are very choosy about who they will lend to at this level. Often you will get one chance to get it right when applying for lending over 80%. We make sure we present the deal in the best possible way to give it the best chance of getting approved.


Low-Doc Loans

This a loan provided on the basis that the you declare what you earn instead of proving what you earn by way of standard income documentation.

  • Typically only available via mortgage brokers
  • Up to 80% loan-to-value lending
  • Term up to 30 years
  • Minimum 6 months self-employed
  • Competitive interest rates

No-Doc Loans

This is a loan provided on the basis that the lender relies on the equity you have in a property instead of you having to provide income proof or declare an amount.

  • Up to 65% loan to value
  • Term 6 months to 3 years

Getting started is easier than you think.

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Talk to a home loan expert

Call us on 0800 021 337 8.30am – 8.00pm Monday to Friday

Home loan calculator

Use this calculator as a guide to find out what your home loan repayments could be.

Is non-bank lending for you?

Non-bank lending is when a loan is obtained from an institution other than a Bank, such as a Credit Union or Building Society. In some cases the non-bank lender gets its funding line from a Bank!

For all New Zealanders with low deposit, self-employment, little proof of income or less than ideal credit history, it can be very difficult to find a Bank willing to give them a mortgage.

If you’re in this situation, then non-bank lending provides you with a solution.

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