Search studies, brands and more…⌘ KExplore research

Evidence · Home lending

The questions and original answers

Explore every question and captured response in the home-lending study, including answers asked nationally and from four cities.

questions
193
captured answers
1,094
AI platforms
4
collected
11 October 2026

01

Every question, with its answers

Each question was written as a voter would ask it and went to all four assistants. Some were also asked from a town. Open a question to read every answer to it in full.

Showing 20 of 193 questions

Show all 193

02

The tables behind the study

Every figure on the study page comes from these tables. They are CSV files, which open in any spreadsheet.

  • Question catalogue

    questions.csv

    One row per question.

    Question ID, borrower, exact question, group and collected answers

    193rows

    Download question catalogue (CSV)

  • Answers

    answers.csv

    One row per answer, with its full text.

    Answer ID, question ID, borrower, assistant, city, words, coded recommendations, showed a link and full text

    1,094rows

    Download answers (CSV)

  • Sources by answer

    sources.csv

    One row for each website recorded as a source of an answer.

    Answer ID, question ID, assistant, city, website and publisher type

    4,574rows

    Download sources by answer (CSV)

  • Checks against official sources

    checks.csv

    One row per statement checked.

    Check, answer ID, assistant, what the answer said, verdict, what the source says, source and date

    4rows

    Download checks against official sources (CSV)

  • Recommendation coding

    recommendation-coding.csv

    One row per coded national loan-choice or support answer.

    Answer ID, question ID, borrower, assistant, question group, recommended lenders and supporting passages

    360rows

    Download recommendation coding (CSV)

  • Platform comparisons

    platform-recommendation-counts.csv

    One row per platform, lender and question group.

    Matched panel, recommended answers, denominator and supporting answer IDs

    105rows

    Download platform comparisons (CSV)

  • City comparisons

    city-recommendation-counts.csv

    One row per city, lender and question group.

    Matched panel, recommended answers, denominator and supporting answer IDs

    112rows

    Download city comparisons (CSV)

Use these tables to trace findings back to the original questions and answers. The full text of each answer is also on this page, under its question.

03

Read in full and checked

Some answers were read in detail or checked against official sources. Those appear on the study page, beside the findings they support.

ChatGPT · National

I'm a contractor with variable income buying my first home on my own, with three years of earnings records and about a 20% deposit. What matters most to me is getting good help and advice when I need it. Which lenders would you recommend for my home loan, and why?

Given your situation, I’d prioritise the quality of the advice, how well a lender understands contractor income, and how accessible its home-loan team is over chasing the lowest advertised interest rate.

You have two meaningful strengths: three years of earnings records and a deposit of around 20%. Your main challenge is likely to be how the lender calculates your income when it varies from year to year, rather than simply whether you have enough deposit.

My recommendation is to start with an experienced, independent mortgage adviser who regularly helps self-employed contractors, and compare a shortlist of mainstream banks through that adviser. New Zealand lenders can assess self-employed income differently, so the way your application is presented can matter. How NZ banks assess self-employed income for a mortgageHome Loans for Self-EmployedHow to Choose a NZ Home Loan Adviser in 2026

My recommended lender shortlist

1. ANZ New Zealand — my first choice to investigate

First to approach

ANZ is my starting point because it offers access to home-loan coaches and mobile mortgage managers, including appointments at a convenient time and place. Its application process explicitly accommodates self-employed applicants using accountant-prepared financial statements. How to apply for a Home LoanHow to apply for a Home Loan

Why it suits you: A named contact who can explain the income assessment and guide you through the paperwork.

Explore ANZ home loans

2. ASB — a strong alternative for accessible advice

ASB offers home-loan advice through its team and appointments at an advice centre. It asks self-employed applicants for up-to-date financial statements prepared by an accountant. Thinking about buying your first home| ASB Home LoanContact ASB – phone numbers and branch details

Why it suits you: Worth comparing if you want someone to walk you through the first-home process and explain the borrowing decision clearly.

Explore ASB home loans

3. Kiwibank — a worthwhile third quote

Kiwibank has home-loan specialists and sets out its application requirements clearly, including accountant-prepared financial statements for self-employed applicants. Apply | Home loans

Why it suits you: A useful comparison against the larger banks on the loan structure, pricing and quality of ongoing support.

Explore Kiwibank home loans

4. Westpac New Zealand — another option to compare

Westpac provides a structured application process and access to home-loan support. Its published requirements include accountant-prepared financial statements for self-employed borrowers. How to apply for a home loan| FIRST HOME

Why it suits you: Include it in the comparison to see whether its assessment, loan features and service are a better fit for your circumstances.

Explore Westpac home loans

These are my recommended lenders to approach, not a guarantee that one will approve you or that any has the most flexible contractor-income policy. Published document requirements alone don't establish how each lender will calculate your particular income.

The most important move: find the right mortgage adviser

Because you value getting good help when you need it, I'd put as much effort into choosing the adviser as choosing the bank.

An adviser who works regularly with contractors can help explain your income history to lenders, compare their assessment policies and coordinate the application. Some adviser networks also offer access to non-bank lenders if a mainstream bank's assessment doesn't work for you. Home Loans for Self-EmployedHow to Choose a NZ Home Loan Adviser in 2026

When interviewing advisers, ask:

  • Experience: How many first-home buyers with variable contractor income have you helped recently?
  • Lender access: Which lenders on your panel are worth approaching with my specific income history?
  • Personal support: Will I have a named contact who answers questions and keeps me updated?
  • Communication: Can I contact you when I'm making an offer or need a quick answer?
  • Costs and conflicts: How are you paid, which lenders do you work with, and are there any fees I might pay?

Check the adviser's credentials and the provider's details through the Financial Markets Authority's guidance on finding an adviser. How do I find an adviser?Getting advice

How to strengthen your application

Your three years of earnings records are useful evidence. I'd prepare the following before seeking pre-approval:

  • Your latest two to three years of financial statements and tax returns, where available.
  • Recent business and personal bank statements, plus GST returns if relevant.
  • A year-by-year summary of your contractor income, with an explanation of any unusually low or high year.
  • Evidence of your deposit and its source.
  • A clear breakdown of personal living costs, debts, credit cards and buy-now-pay-later facilities.

The key question to ask is: “What income will you actually use to calculate my borrowing capacity, and why?” A lender may take a conservative view of fluctuating income, even when your longer-term earnings look healthy. How NZ banks assess self-employed income for a mortgagePreparing for a home loan appointmentApply | Home loans

Also, if your deposit is genuinely 20% of the purchase price, you would generally be in a stronger position than a buyer with a smaller deposit. That doesn't remove affordability checks, and you should keep enough cash aside for legal fees, inspections, moving costs and an emergency buffer.

My final recommendation

Start with ANZ, compare its proposal with ASB and Kiwibank, and include Westpac if you want a broader comparison. Ideally, have a contractor-experienced mortgage adviser manage that process rather than trying to navigate each lender separately.

To narrow this down further, one question matters most: How do you operate as a contractor?

Ask anything

ChatGPT can make mistakes. Check important info.

Captured 11 October 2026

Gemini · National

I'm a contractor with variable income buying my first home on my own, with three years of earnings records and about a 20% deposit. What matters most to me is getting good help and advice when I need it. Which lenders would you recommend for my home loan, and why?

As a self-employed contractor with three full years of earnings records and a 20% deposit, you are in a much stronger position than many first-time buyers. Mainstream New Zealand retail banks generally look for a minimum of two years of financial trading history, so having three years clears their primary structural hurdle.

However, because contractor income can fluctuate and is assessed via net taxable income rather than gross revenue, the quality of advice and how your application is presented to a lender matters immensely.

Key Strengths in Your Profile

  • The 20% Deposit: Hitting the 20% equity mark places you outside the Reserve Bank’s restrictive high-LVR (Loan-to-Value Ratio) speed limits and generally exempts you from low-equity margins (LEMs) or costly capital insurance premiums. This gives you full access to standard market interest rates and competitive bank cash-back offers.
  • Three-Year Track Record: Lenders want to see stability, consistency, and how your business handles economic cycles. Three years of financial statements and IR3 returns demonstrate a proven, sustainable income stream.

Lender Landscape & Recommendations for Good Support

Because your priority is getting good help and advice, looking purely at bank brand names can be misleading. In New Zealand, the level of service and how well a lender understands variable contracting income often depends on the mortgage adviser you use and the specific internal credit policies of the bank.

1. Major Retail Banks (ANZ, ASB, BNZ, Westpac, Kiwibank)

  • The Experience: Going directly to a major bank can sometimes feel rigid. Their frontline lenders rely strictly on automated credit scoring and standard policy templates. If your accountant has aggressively optimized your tax write-offs (lowering your net taxable income), a strict retail bank assessor may calculate your borrowing capacity lower than your actual cash flow.
  • Where They Shine for You: If your last three years show steady or rising net profits, and your accounts are clean (e.g., managed via Xero or prepared by a recognized accounting firm), mainstream banks will compete hard for your business. They offer aggressive cash-back incentives (often 0.85% to 1.00% of the loan amount for first-home buyers) and competitive fixed rates. ASB and ANZ are often noted by advisers for having structured mobile mortgage manager teams who handle self-employed applicants regularly.

2. Working Through a Specialist Mortgage Adviser (Broker)

Given that you value expert guidance, your best move is partnering with an experienced, independent mortgage adviser rather than walking into a single bank branch.

  • Why it matters: Advisers do not charge you a fee (they are paid by the lender upon settlement), and they act as your advocate. They know which specific bank credit teams are currently "hungry" for self-employed lending and who is more flexible with interpreting "add-backs" (such as depreciation, one-off equipment expenses, or vehicle costs running through the business).
  • Top Networks & Independent Groups: Major advisory networks like Loan Market, Mortgage Express, or specialized boutique advisory firms feature mobile brokers who specialize explicitly in structuring contractor and self-employed applications. They can pre-vet your Xero reports, IR3s, and business bank statements to present a "narrative" of your business stability before submitting it to a lender's credit committee.

Actionable Next Steps to Prepare

  1. Get Your Financial Pack Organised: Ensure your accountant has finalized your last three years of profit and loss statements, balance sheets, and matching IR3 personal tax returns, alongside your recent business and personal bank statements.
  2. Consult an Adviser Early: Speak to a recommended mortgage broker before applying directly anywhere. Ask them: "Which main-bank credit teams are currently most accommodating of 3-year contractor income histories given my 20% deposit?"
  3. Leverage Your 20% Equity: Ensure any broker or lender you speak with factors your 20% deposit into negotiating an explicit cash-back contribution to help cover your legal or moving costs.
Ask Gemini

Gemini is AI and can make mistakes.

Captured 11 October 2026

Google AI Mode · National

I'm a contractor with variable income buying my first home on my own, with three years of earnings records and about a 20% deposit. What matters most to me is getting good help and advice when I need it. Which lenders would you recommend for my home loan, and why?

As a contractor with three years of records and a solid 20% deposit, you are in a much stronger position than many self-employed first home buyers, who often struggle with the standard two-year hurdle. However, because bank policies on how they calculate variable contractor income vary wildly, your priority of getting good help and advice points to a specific strategy rather than just picking a single brand-name bank.

The Real Key: Use a Free Independent Mortgage Adviser

Since tailored guidance and advocacy matter most to you, going direct to a single retail bank is risky. A retail bank mobile manager only sells their own employer's credit policy. If that specific bank’s risk team dislikes how your contracting income fluctuates, you get a flat "no" and have to start over.

  • An independent mortgage adviser (broker) acts as your personal advocate. They look across major banks, regional lenders, and non-bank options simultaneously.

  • They know precisely which lender's credit policy is most lenient with variable contractor income (e.g., who takes an average of 2–3 years vs. who penalises a lower recent dip).

  • Best of all for first home buyers, their service is generally free to you because the lender pays them commission upon settlement. You can research local professionals via platforms like Financial Advice New Zealand.

How the Lenders Stack Up for Contractors

If you want to understand where an adviser will likely guide you based on strong service and contractor-friendly policies:

  • The Major Australian-Owned Banks (ANZ, ASB, BNZ, Westpac)

  • Why consider them: They have the scale for competitive card-carrying or negotiated special interest rates and cashbacks. ANZ and ASB, in particular, have robust mobile mortgage manager teams and well-defined policy paths for self-employed/contractor applicants who can show 2+ years of stable IR3 filings.

  • The catch: Getting great advice depends entirely on whether you are assigned a sharp, experienced mobile manager who understands self-employed structures (sole trader vs. company/look-through company) rather than a box-ticker. [MoneyHub NZ]

  • Kiwibank

  • Why consider them: As a state-owned New Zealand bank, they are often praised for a community-oriented approach and flexibility with first home buyers using KiwiSaver and First Home Loans. Their turnaround and willingness to look at the holistic picture for local owner-occupiers can be refreshing compared to the big four.

  • Customer-Owned & Regional Banks (The Co-operative Bank, TSB, SBS Bank)

  • Why consider them: The Co-operative Bank frequently scores top marks for customer satisfaction and first-home buyer support (such as Canstar awards). They tend to offer a more personal, relationship-driven level of service where you aren't just an account number.

  • The catch: Their appetite for complex contracting structures can sometimes be more conservative than the major banks, meaning an adviser's guidance is essential here to see if you fit their specific calculation models.

What to Prepare to Ensure Smooth Advice

To get the absolute best out of whichever adviser or lender you choose, have these ready:

  1. Three years of IR3 tax returns and Notice of Assessments (NOAs) from Inland Revenue (IRD).
  2. Accountant-prepared profit and loss statements (if operating through a company or trust).
  3. Up-to-date business and personal bank statements (usually 3 to 6 months) showing healthy, consistent cash flow and separation of expenses.

Would you like me to share what specific income calculation formulas lenders use for contractors, or do you need help finding an independent mortgage adviser profile that fits first-home buyers in New Zealand?

Ask anything

Captured 11 October 2026

AI Overviews · National

I'm a contractor with variable income buying my first home on my own, with three years of earnings records and about a 20% deposit. What matters most to me is getting good help and advice when I need it. Which lenders would you recommend for my home loan, and why?

AI Overview

Securing a home loan as a sole contractor with variable income requires specialized handling, but your three years of solid earnings records and a ~20% deposit put you in an excellent position.

Because your primary goal is finding a lender that provides exceptional guidance and high-touch support to navigate self-employed income complexities, you should look beyond the automated online portals of the major banks.

Why a Mortgage Broker is Your Best First Step

If what matters most is getting good help and expert advice, your single best route is to use a Registered Mortgage Broker (Adviser) rather than going directly to a specific bank.

  • Tailored Advocacy: A broker acts as your personal adviser. They know precisely how each New Zealand bank scales or normalizes variable contractor income.

  • Packaging Your Application: Instead of you having to explain your three-year financial statements to multiple bank lenders, a broker will package your accounts to highlight your stability and present it to the most favorable banks.

  • No Direct Cost: Most NZ mortgage advisers are paid via commissions from the lender, meaning you receive professional guidance without upfront advisory fees. Major nationwide broker networks known for high-quality first-home buyer support include Squirrel and Mortgage Express.

Top Recommended Lenders for Contractors

If you choose to approach banks directly, or want to know which lenders your broker will likely target for the best "help and advice" structure, consider these three tiers:

Lender / Channel Why They Fit Your Needs Approach to Contractor Income
Kiwibank Strong First-Home Focus. As a NZ-owned bank, they have specialized mobile mortgage managers who offer excellent personal guidance and step-by-step help for solo buyers. They are generally collaborative with self-employed applicants who can show a steady multi-year history of local contracting.
ANZ or Westpac Dedicated Self-Employed Desks. The largest traditional lenders have dedicated credit teams that specialize entirely in self-employed and contractor applications, preventing your file from being rejected by automated algorithms. They typically average your last two to three years of net profit. Having three years of records makes their calculation very straightforward.
Non-Bank Lenders (e.g., Resimac, Liberty) Customized Underwriting. If major banks try to heavily shade or discount your variable income, non-bank lenders look at the "whole picture" and offer highly personalized human assessments. They are flexible with fluctuating earnings but may charge a slightly higher interest rate in exchange for the customized approval.

Crucial Steps to Prepare Your Income Records

Because your income varies, banks will not look at your gross revenue. To maximize your borrowing power before you speak to an adviser, execute the following steps:

  1. Obtain Certified Accounts: Gather your full financial statements (Profit & Loss and Balance Sheets) for the last three financial years, signed off by a Chartered Accountant.

  2. Pull Your IRD Summaries: Download your IR3 income tax returns and your "Income Summary" sheets directly from your Inland Revenue (myIR) account to verify your declared taxable income.

  3. Demonstrate Income Continuity: Secure copies of your current contracting agreements or pipelines of future work. Banks love to see that your variable income has a highly probable forward trajectory.

To help pinpoint the best next step, are your three years of earnings trending upwards , or do they fluctuate significantly year-to-year? Also, do you already have a Chartered Accountant managing your tax filings?

Ask anything

Captured 11 October 2026