The questions and original answers

I'm sorry you're having to navigate this. If you're separating from your partner and hoping to keep your home, I'd suggest speaking to a few New Zealand lenders before making any decisions about selling or transferring ownership.

The good news is that you may be able to take over the mortgage in your own name. The key question is whether a lender is comfortable with you servicing the loan on your own income and whether you have enough equity in the property to make the arrangement work.

I'd approach this in two ways: speak to your existing bank about keeping the mortgage, and talk to a mortgage adviser who can compare other lenders' options if your bank can't offer a suitable solution.

1. Which New Zealand lenders would I approach?

I'd start with your current bank, then compare a few of the major banks. You don't necessarily need to switch lenders to keep your home.

Lender	Why I'd approach them
Your current bank	My first choice. Ask whether they can restructure the existing mortgage into your sole name, or approve a new loan in your name.
ANZ	Worth including in a comparison if you want to explore refinancing or a fresh lending assessment.
ASB	Another major bank to approach for an assessment based on your individual income, expenses and equity.
BNZ	Offers home-loan refinancing and assesses applications against its lending criteria. Its published process explains the information you'll need to provide.
Westpac NZ	Worth approaching for a competing assessment of your borrowing capacity and possible loan structure.
Kiwibank	Another option to compare with the larger banks, particularly if you're considering changing lenders.

These are lenders I'd put on your shortlist, rather than a ranking of which is most likely to approve you. Approval will depend on your circumstances and each lender's criteria.

For example, BNZ's home-loan refinancing guide explains its assessment process and the financial documents it may request. Its lending remains subject to eligibility and lending criteria. Source

My recommendation: Contact your existing bank first and, in parallel, speak with an independent mortgage adviser who works with multiple lenders. The adviser may be able to identify a suitable alternative if your current bank won't approve the arrangement.

2. What will lenders look at?

When you apply to take on a mortgage by yourself, lenders will generally want to understand four things.

• Your income: Can your salary or self-employed income support the mortgage repayments without your partner's contribution?
• Your expenses: What will your living costs look like after separation? Include childcare, child support, other debts and household bills where applicable.
• Your equity: How much is the home worth, and how much is left on the mortgage?
• The settlement with your partner: Will you need to borrow extra money to pay your partner their share of the home's equity?

That last point can make a substantial difference.

For example, imagine:

• Your home is worth $900,000.
• Your outstanding mortgage is $500,000.
• Your total equity is $400,000.

If you and your partner agree to divide that equity equally, your partner's indicative share would be $200,000.

If you wanted to keep the home and pay them that amount, you might need a mortgage of around $700,000, before allowing for legal fees and other costs.

A lender would need to assess whether you could afford the larger mortgage on your own. The actual settlement could differ depending on your legal circumstances and any other assets or debts.

You may have a better chance of keeping the home if you have a good amount of equity and can service the mortgage on your own income. Neither factor guarantees approval, though.

3. Should you use a mortgage adviser?

Yes, I'd seriously consider it, particularly if keeping your home is your priority.

An adviser who works with multiple lenders can help you:

• Estimate how much you could borrow on your own.
• Compare lenders before you make a formal application.
• Work out whether to stay with your current bank or refinance.
• Understand whether paying your partner their share of the equity is financially realistic.
• Identify potential obstacles before you spend money on legal work.

You can check an adviser's credentials through the Financial Service Providers Register. The Financial Markets Authority also explains how to find a financial adviser. Source

4. Important things to do before changing the mortgage

There are two things I'd be particularly careful about.

Don't assume that making the repayments transfers the mortgage into your name. If the mortgage is currently joint, your former partner may remain liable for the debt even if they move out and you make every payment. The lender needs to formally approve the arrangement and release them from their obligations. Source: Banking Ombudsman

Get independent legal advice about the house and your separation agreement. The mortgage and the ownership of the property are related but separate issues. Your lawyer can help establish what you need to pay your partner, how the property should be transferred and what needs to happen if the bank approves your application.

New Zealand's Ministry of Justice has a useful guide to dividing relationship property. Source

5. Let's work out which lenders are most realistic for you

I can help narrow this down to the lenders most worth approaching, rather than having you contact every bank.

Could you tell me these three things?

1. Which bank is your current mortgage with? For example, ANZ, ASB, BNZ, Westpac, Kiwibank or another lender.
2. Roughly what is your home's value and how much is left on the mortgage? Estimates are absolutely fine.
3. What's your approximate annual income before tax? If you have children or other significant financial commitments, you can mention those too.

With those details, I can help you assess your likely options, including whether staying with your existing bank or approaching another lender might make more sense. You don't need to share any identifying or account information.