Update: BNZ Is No Longer Offering Pre-Approvals to non-bank Customers | Ep. 151

In this episode, we discuss how BNZ is no longer offering pre-approvals to non-bank customers. This has some far-reaching implications for property investors and mortgage brokers. 

It likely means that investors and homebuyers will find the property they want first and sign it conditional to finance before taking the property to the bank. This means that the bank will prioritise the deal. 

It is also an indication of strength in the banking and property sector ... if the bank is turning down potential business it is likely because they have been inundated with applications, suggesting that there is even more activity in the market. It also means it is more likely that mortgage brokers will become more important as prospective purchasers consult them for advice. 

We also mentioned the Epic Guide to Mortgages, a 9,500 word guide that teaches you how to get a mortgage and pay it off faster in 2020.