How mortgage pre‑approval actually works in NZ
A pre‑approval isn’t just a number — it’s a conditional offer from a lender. Here’s what banks actually check, how long it lasts, and why yours might be worth more than you think.
4 min readRead
Business owners & contractors
Self‑employed lending, done properly.
If you’re self‑employed, a contractor or a company shareholder, banks assess you very differently — and inconsistently. This is a speciality of mine. I know how each lender treats retained earnings, add‑backs, shareholder salary and one‑off income.
Overview
How I help you with self employed.
If you’re self‑employed, a contractor or a company shareholder, banks assess you very differently — and inconsistently. This is a speciality of mine. I know how each lender treats retained earnings, add‑backs, shareholder salary and one‑off income.
Retained earnings & add‑backs
Not all lenders will use retained earnings. I know which ones will — and how to present them.
Two years of financials
Most lenders want two full years. I’ll tell you what they’re actually looking for line by line.
Contractor income
IT, healthcare, construction — different rules for different professions. We’ll take you to the right lender.
No cookie‑cutter policies
Every self‑employed application is unique. I position yours in the strongest possible way.
Who this helps
Is this the right service for you?
1
Sole traders with two years of financials
2
Company shareholders taking a mix of salary and dividends
3
Contractors on 6+ month rolling contracts
4
New business owners recently profitable, with only one year of records
Common mistakes
The mistakes I help clients avoid.
Applying with the bank that holds your business accounts by default
Not asking your accountant to prepare adviser-ready summary financials
Filing personal tax returns late in the lead-up to applying
Underdrawing shareholder salary just before applying for lending
FAQ
Frequently asked questions.
Most lenders prefer two, but several will accept one full year in the right circumstances. I know which ones.
Some ignore them, some use 50%, some use 100%. Choice of lender can double your borrowing capacity.
Sometimes yes, with an accountant's letter and interim financials. I'll tell you when that path works.
Case study
How Rachel N. in Christchurch got there.
Situation
Self-employed IT contractor, declined by two banks despite consistent income of $185,000 over two years.
Approach
Repackaged financials with add-backs correctly presented, approached a third lender with an appetite for contractors on long-term rolling contracts.
Outcome
Approved in 6 business days for a $720,000 loan at competitive rates.
Client details anonymised for privacy. Outcomes vary based on individual circumstances and lender policy at the time of application.
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Other ways I can help.
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