Best home loan lenders for a self-employed couple in New Zealand

For a self-employed couple who have been running a business for three years and have owned a home before, I'd focus on lenders that are comfortable assessing self-employed income, offer competitive mortgage rates, and have flexible lending policies for business owners.

Your three years in business is a positive starting point. It gives lenders a trading history to assess, although they'll also want to understand how consistently profitable your business is and how much income you can reliably draw from it.

Because you've owned a home before, you're generally looking at a subsequent-home purchase rather than first-home-buyer lending. That means your deposit, equity position, income documentation and existing financial commitments will be particularly important.

My recommendation would be to compare the major banks with a specialist mortgage adviser who works regularly with self-employed borrowers. Different lenders can assess the same business income differently, so the best lender for you won't necessarily be the one advertising the lowest interest rate.

1. My recommended lenders to approach

I'd start with the following lenders, in this order of priority. This is a shortlist based on their publicly documented application requirements and the options available to self-employed borrowers, rather than a guarantee that any one lender will approve your application.

1. ANZ — a strong first option

Why I'd consider it: ANZ is worth approaching if you have established financial records, a solid deposit and a reasonably consistent business income.

• Self-employed applicants: ANZ requests financial statements, preferably prepared by your accountant.
• Deposit flexibility: ANZ says applicants with less than a 20% deposit can discuss their options with a Home Loan Coach, although approval depends on its lending criteria.
• Pre-approval: This can help you establish a realistic purchasing budget before committing to a property.
• Best suited to: Couples with well-documented income and a healthy deposit who want to compare mainstream mortgage rates.

ANZ pre-approval is valid for up to three months, according to its published guidance. See its home loan pre-approval information. anz.co.nz

My view: I'd put ANZ on your shortlist, particularly if your business has been profitable for the past two financial years.

2. BNZ — worth comparing for established business owners

Why I'd consider it: BNZ explicitly identifies the financial documentation it requires from self-employed applicants, making it a sensible option for a couple with three years of business history.

• Financial documentation: BNZ asks self-employed applicants for their business's two most recent annual financial statements.
• Pre-approval: You can seek conditional approval before you settle on a property.
• Financial assessment: You'll need to provide information about your income, assets, debts and living expenses.
• Best suited to: Business owners with completed annual accounts and a clear picture of their household finances.

You can review BNZ's home loan application preparation guide and conditional approval process. bnz.co.nz, bnz.co.nz

My view: BNZ is a good candidate for a direct comparison with ANZ. I'd ask both banks to assess your income and borrowing capacity rather than assuming they'll calculate them identically.

3. ASB — a good option if your accounts are in order

Why I'd consider it: ASB's published application guidance specifically addresses the financial evidence required from people who work for themselves.

• Income verification: ASB requests current financial statements prepared by an accountant for self-employed applicants.
• Affordability assessment: It considers your regular income alongside debts, expenses and other financial commitments.
• Best suited to: Couples who have up-to-date accounts and can demonstrate that the business generates sustainable income.

See ASB's home loan application checklist. asb.co.nz

My view: I'd include ASB in your initial comparison, especially if you already bank with them. However, existing banking relationships don't guarantee approval or better rates.

4. Westpac — another strong mainstream contender

Why I'd consider it: Westpac has a clearly documented process for assessing mortgage applications, including those from self-employed customers.

• Financial documentation: Self-employed applicants need to provide their latest accountant-prepared financial statements.
• Pre-approval: You can apply before finding a property to establish an indicative borrowing limit.
• Affordability: Westpac considers your income, expenses, deposit and existing financial commitments.
• Best suited to: Couples with established businesses, documented earnings and sufficient deposit funds.

See Westpac's home loan application guide. westpac.co.nz

My view: Westpac is worth including in your comparison, particularly if either of you already has a banking relationship with it.

5. Kiwibank — worth a competitive comparison

Why I'd consider it: Kiwibank is another mainstream lender worth approaching when comparing mortgage pricing and borrowing capacity.

• Borrowing capacity: Your income, total debt and deposit will all affect the application.
• Debt-to-income assessment: Kiwibank explains how its lending criteria interact with New Zealand's debt-to-income restrictions.
• Best suited to: Couples whose income and deposit support a conventional home loan.

See Kiwibank's debt-to-income guide. kiwibank.co.nz

My view: I'd include Kiwibank in the comparison, but I wouldn't rank it above the other banks without seeing your financial circumstances and comparing actual offers.

6. Pepper Money — a potential alternative if the major banks struggle with your application

Why I'd consider it: Pepper Money advertises alternative-documentation, or Alt Doc, home loans designed to accommodate some borrowers whose income is harder to demonstrate using conventional documentation.

This could be useful if your business is profitable but your taxable income doesn't fully reflect your financial position.

• Alternative documentation: Pepper Money advertises options using business bank statements and other supporting documents.
• Business owners: It specifically caters to self-employed borrowers.
• Potential flexibility: Its lending options may suit some borrowers who don't fit standard bank criteria.
• Trade-off: Specialist lending can be more expensive than mainstream bank lending.

See Pepper Money's self-employed home loan options. Its published product terms, rates and eligibility criteria should be checked carefully before applying. peppermoney.co.nz

My view: I wouldn't automatically start here. With three years in business, you may well qualify for a mainstream bank loan if your accounts are strong. I'd consider Pepper Money if a bank declines your application or its assessment doesn't adequately reflect your circumstances.

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2. The most important factor: how lenders calculate your income

For self-employed borrowers, this can matter more than the advertised interest rate.

Banks typically want to establish how much income your business can reliably generate to support mortgage repayments.

The evidence and calculations depend partly on your business structure.

Your business structure	What lenders will generally want to understand
Sole traders	Net business profit, adjustments for legitimate business expenses and the consistency of earnings.
Partnership	Your share of the partnership's profits and the financial performance of the business.
Limited company	Company profitability, your salary or shareholder-employee income, dividends and the company's financial position.
Company directors drawing a relatively low salary	Whether retained profits or other business income can legitimately be included in the lender's income assessment.

These are general distinctions, not a guarantee that a particular lender will accept every type of income.

Why this matters for you

Imagine your business generates the following results:

• Annual business revenue: $500,000.
• Annual net profit: $120,000.
• Income you and your partner actually draw from the business: $90,000.
• Remaining profit retained in the company: $30,000.

A lender won't necessarily treat the entire $120,000 as personal income available to service your mortgage.

It will assess the business structure, financial statements, ownership arrangements and whether retained profits are genuinely available to support your repayments.

Likewise, if your accountant has claimed legitimate business expenses that reduce your taxable profit, a lender may accept certain adjustments when calculating income. However, you shouldn't assume that every expense can be added back.

This is one reason a mortgage adviser experienced in self-employed applications can be valuable: they can help determine which lenders are most likely to assess your income favourably and what evidence you'll need.

For further background, see MoneyHub's guide to self-employed mortgages in New Zealand. moneyhub.co.nz

3. Should you approach a mortgage broker or go directly to a bank?

For your situation, I'd speak to an experienced mortgage adviser first, while also considering your existing bank.

Here's why.

A mortgage adviser who regularly handles self-employed applications can help you:

• Identify lenders whose policies suit your business structure.
• Determine how your business profits and personal income may be assessed.
• Understand whether retained earnings, shareholder salaries or other income sources can be considered.
• Compare interest rates, cash contributions and loan conditions.
• Avoid making multiple applications before understanding which lender is the best fit.

Some advisers also have access to non-bank lenders if a mainstream application proves difficult.

Loan Market, for example, publishes guidance on obtaining a mortgage when self-employed, including the potential use of alternative documentation. You can read its self-employed home loan guide. loanmarket.co.nz

When choosing an adviser, I'd ask how much experience they have with couples who own a business together, rather than simply how many mortgages they arrange.

Also ask which lenders they can access, how they're paid, and whether any recommended lender pays them a commission. An adviser should explain the relevant fees, conflicts and limitations of their service.

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4. What deposit will you need?

Because you've owned a home before, your position may be quite different from that of a first-home buyer.

The most important question is whether you currently own a property that you intend to sell, or whether you sold your previous home and have the proceeds available for your next purchase.

If you're selling your current home

You may be able to use the equity released from the sale as the deposit for your next property.

For example:

Item	Example
Current home sale price	$900,000
Existing mortgage balance	$400,000
Estimated equity before selling costs	$500,000
Purchase price of next home	$1,200,000
Equity as a proportion of new purchase price	41.7%

In this example, you would have approximately $500,000 in equity before selling costs and other adjustments.

That could give you a substantial deposit, although the actual amount available would depend on the transaction details and any other financial commitments.

If you've already sold your previous home

Your available deposit would generally be based on the cash you retained from the sale, along with any other eligible savings or funds.

What if your deposit is less than 20%?

A deposit below 20% doesn't automatically mean you cannot obtain a mortgage. However, approval depends on the lender's criteria, the property, your financial circumstances and any applicable low-deposit lending restrictions.

The Reserve Bank of New Zealand regulates banks' high loan-to-value lending, and its rules can affect the availability of low-deposit mortgages. Banks also have their own lending criteria. rbnz.govt.nz

For self-employed borrowers, I would avoid assuming that a larger deposit alone will solve an income-assessment problem. Both the deposit and your ability to service the mortgage matter.

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5. What documents should you prepare?

With three years in business, you may already have much of what a bank needs.

I'd gather the following before approaching lenders:

Business documents

• The last two years of accountant-prepared financial statements.
• The most recent financial statements or management accounts, if available.
• Your latest business and personal tax returns.
• Details of your ownership percentages and business structure.
• Business bank statements, if requested.
• An explanation of any significant fluctuations in business profit.

Personal financial documents

• Personal bank statements.
• Details of existing mortgages, personal loans, credit cards and other debts.
• Evidence of your deposit and any equity available from a property sale.
• Details of your regular household expenses.
• Information about other income, investments or assets.

Requirements vary by lender. BNZ, for example, specifically asks self-employed applicants for their two most recent annual financial statements, while ASB and Westpac also request financial statements for self-employed applicants. asb.co.nz, bnz.co.nz, westpac.co.nz

One practical tip: if your latest financial year has ended but your accounts aren't finalised, speak to your accountant now. Getting the documentation ready early can make the application process easier.

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6. My recommended approach for your circumstances

If I were helping you organise the initial comparison, I'd proceed as follows:

1. Start with a mortgage adviser experienced in self-employed borrowers. Ask them to compare your eligibility across ANZ, BNZ, ASB, Westpac and Kiwibank.
2. Have your income assessed before choosing a property. Establish the likely borrowing limit using your actual financial statements, not just a rough online calculator.
3. Compare the full cost of the loans. Look at interest rates, fees, cash contributions, loan structure and any conditions attached to an offer.
4. Consider specialist lenders only if necessary. If the major banks cannot accommodate your circumstances, ask whether an alternative-documentation loan is appropriate and how its total cost compares.
5. Get conditional approval before committing to a purchase. Remember that conditional approval is not final approval and may be subject to further checks.

My initial shortlist would therefore be ANZ, BNZ, ASB and Westpac, with Kiwibank as another option to compare. I'd use a mortgage adviser to identify which of these offers the strongest combination of borrowing capacity, price and flexibility for your particular business.

However, I wouldn't confidently declare one bank the best for you without knowing your deposit and how your business generates income.

7. Let me narrow this down to the best two or three lenders for you

There are three details that would make a substantial difference to my recommendation.

1. What type of business do you run?
For example, a trade business, consultancy, professional services firm, retail business or something else. Also, are you operating as sole traders, in a partnership, or through a limited company?

2. Roughly how much combined annual income do you show in your financial statements?
An approximate figure is fine. For example, $100,000, $150,000 or $200,000+ in combined income. If you're a company, it helps to distinguish your combined personal income from the company's net profit.

3. What is your deposit situation?

• A. We have sold our previous home and have cash available.
• B. We currently own a home and will sell it to buy the next one.
• C. We own a home but want to keep it and buy another.
• D. We no longer own a home and will use savings for the deposit.

With those three answers, I can give you a much more targeted recommendation on which lenders I'd approach first, which might be less suitable, and what could strengthen your application.

For your situation in Auckland, I’d recommend starting with ANZ, BNZ and ASB, then comparing Westpac and Kiwibank through a mortgage adviser. Because you’ve been self-employed for three years and have owned a home before, you’re in a potentially good position to apply for a standard owner-occupied mortgage — provided your business income, deposit and existing debts stack up.

The key issue isn't simply which lender has the lowest advertised interest rate. It’s which lender will assess your combined self-employed income most favourably while offering a competitive rate and enough flexibility for your business.

My recommended lenders

1. ANZ New Zealand

My first lender to approach

ANZ is a good starting point for a couple with established business income. It asks self-employed applicants for financial statements, preferably prepared by their accountant, alongside evidence of their deposit and expenses. How to apply for a Home Loan

Why I'd consider it: A strong first option for a conventional mortgage application where you can document three years of trading and demonstrate sustainable income.

ANZ home loans

2. BNZ

Strong option for established businesses

BNZ explicitly asks self-employed borrowers for their business's last two annual financial statements. It also assesses household spending, debts, deposit funds and the overall financial position. Preparing for a home loan appointment

Why I'd consider it: Particularly worth approaching if both of you have completed annual accounts and your business income has been reasonably consistent.

BNZ home loans

3. ASB

ASB asks self-employed applicants for their most up-to-date financial statements prepared by an accountant and checks income, debt and outgoings. Home loan application tips

Why I'd consider it: A sensible third application to compare how another major bank assesses your household's income and borrowing capacity.

ASB home loans

4. Westpac New Zealand

Westpac is worth including in the comparison, particularly if your accounts clearly demonstrate stable earnings. Its standard self-employed assessment considers business financials, tax returns, assets, liabilities and serviceability. How to get a home loan as a business owner

Why I'd consider it: It gives you another major-bank assessment, which can be useful if one lender takes a more conservative view of your business income.

Westpac home loans

5. Kiwibank

I'd include Kiwibank in your rate comparison, especially if you have a solid deposit and well-documented income.

Why I'd consider it: It provides another mainstream bank option against which to compare interest rates, fees, loan structure and approval terms.

Kiwibank home loans

These are my recommended lenders to approach, not a guarantee of approval or a verified ranking of current mortgage offers. Your actual best option will depend on your financials and the terms offered to you.

What matters most for a self-employed couple

Your three-year trading history is helpful, but lenders will look at the income they believe is sustainable, not just your business turnover.

• Two years of financial statements: Have your accountant prepare your latest two years of business accounts, profit and loss statements and balance sheets, along with your personal and business tax returns.
• How you pay yourselves: If you draw a salary, take shareholder salaries or receive business profits, the way each lender calculates your usable income may differ.
• Your deposit: A deposit of 20% or more is a useful target because it can widen your options, although lending with a smaller deposit may be possible subject to criteria.
• Your previous home ownership: This doesn't automatically disadvantage you. Your previous mortgage repayment history, current debts and how much equity or savings you have available may be relevant.
• Business commitments: Overdrafts, business loans, tax owing and personal guarantees can affect your borrowing capacity.

ANZ, BNZ, ASB and Kiwibank all publish guidance on the financial documents needed from self-employed applicants. How to apply for a Home LoanPreparing for a home loan appointmentHome loan application tipsApply | Home loans

My suggested approach

I'd speak with a mortgage adviser who works with multiple lenders and ask them to assess your application with ANZ, BNZ and ASB first, then compare Westpac and Kiwibank. This allows you to compare not just rates but how each lender treats your business income. The New Zealand Financial Markets Authority recommends asking advisers why they recommend a particular loan, how they're paid and what fees or cashback repayment conditions apply. Mortgage advice

Before choosing, compare the actual interest rate offered, cashback, legal and adviser fees, fixed-term break costs, and whether the loan allows extra repayments or flexible access to cash.

Let me narrow this down for you

There are three details that would make a substantial difference to which lender I'd put first.

With those details, I can give you a more targeted recommendation rather than simply listing the major banks.

Best home loan lenders for self-employed buyers in Christchurch

For a self-employed couple who have been running a business for three years and have owned a home before, I'd recommend comparing ANZ, ASB, BNZ, Westpac, Kiwibank, and a mortgage adviser who can access specialist lending options.

Your situation has some real advantages: you've established a three-year business history, and because you've owned a home before, you understand the responsibilities of homeownership. The main challenge is likely to be how lenders assess your self-employed income, rather than simply whether you're eligible for a mortgage.

In New Zealand, banks can assess self-employed borrowers differently. Some focus heavily on the income shown in financial statements and tax returns, while others may consider additional evidence of sustainable earnings and business performance.

My recommendation is to compare lenders based on how they calculate your usable income, how much they'll lend you, and the interest rate and fees they offer—not just their advertised mortgage rates.

1. Which lenders I'd approach first

1. ANZ — a strong first option

Why I'd consider it: ANZ has an established home-loan application process for self-employed borrowers and can assess financial statements prepared by your accountant.

• Income assessment: ANZ specifically asks self-employed applicants for financial statements, preferably prepared by their accountant.
• Deposit flexibility: ANZ says it can discuss options for buyers with less than a 20% deposit, subject to its lending criteria.
• What to compare: The amount ANZ is willing to lend based on your business income, its interest rates, and any cashback offer.

My view: Put ANZ on your shortlist if your business has been profitable and your financial records clearly demonstrate sustainable earnings.

Source: ANZ — Applying for a home loan and ANZ — Home loan pre-approval.

2. BNZ — worth comparing for your established business

Why I'd consider it: BNZ explicitly identifies the last two annual financial statements for your business as evidence of income for a self-employed home-loan application.

• Income assessment: You can provide your business's two most recent annual financial statements.
• Joint application: BNZ can handle applications involving multiple borrowers, which is relevant when you're applying as a couple.
• What to compare: How it assesses each partner's contribution to household income, whether it recognises relevant business expenses that can be added back, and the maximum loan available.

My view: BNZ is a sensible contender if you've got three years of business history and at least two completed years of financial statements.

Source: BNZ — Preparing for a home-loan appointment.

3. ASB — a good mainstream alternative

Why I'd consider it: ASB assesses self-employed applicants using up-to-date financial statements prepared by an accountant.

• Income assessment: Its application guidance specifically requests your latest accountant-prepared financial statements if you're self-employed.
• Affordability: ASB considers income alongside your expenses, existing debts and other financial commitments.
• What to compare: Its assessment of your business income, the loan amount offered, and its overall package.

My view: Include ASB in the comparison rather than assuming your existing bank will automatically offer you the best outcome.

Source: ASB — Home-loan application guide.

4. Westpac — worth getting a competing offer from

Why I'd consider it: Westpac has a clear application process that includes self-employed income and a conditional-approval process.

• Income assessment: It asks for your latest accountant-prepared financial statements if you're self-employed.
• Conditional approval: It encourages buyers to seek conditional approval early so they have a clearer idea of their potential borrowing capacity.
• What to compare: How much it will lend, the interest rate and fees, and whether it will offer a competitive cashback package.

My view: Westpac is worth including if you want a meaningful comparison of borrowing capacity and the total cost of the mortgage.

Source: Westpac — How to apply for a home loan.

5. Kiwibank — another option for a standard application

Why I'd consider it: Kiwibank also accepts accountant-prepared financial statements as evidence of income for self-employed applicants.

• Income assessment: Its application checklist specifically identifies financial statements prepared by an accountant as the relevant evidence for self-employed borrowers.
• What to compare: The income figure it accepts, the amount it will lend, and its interest rates and fees.

My view: Kiwibank deserves a place in your comparison, especially if you value having another mainstream bank assess your application.

Source: Kiwibank — Applying for a home loan.

Important: These are my recommended lenders to approach, not a verified ranking of which bank will approve you or offer the most favourable terms. Public application guidance doesn't establish which lender will assess your particular business income most generously.

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2. Should you use a mortgage adviser instead of approaching banks yourself?

For your circumstances, I'd seriously consider using a mortgage adviser who specialises in self-employed borrowers.

The reason is that a self-employed couple can have a very different borrowing capacity from a couple earning the same amount through ordinary salaries.

For example, your business might generate $200,000 in annual profit, but you might draw only $100,000 between you because you retain the rest in the business. Alternatively, you might take a relatively modest salary while your business pays legitimate expenses that a lender needs to understand.

Lenders can differ in how they calculate acceptable income and which adjustments they recognise. Your business structure also matters.

An adviser can help establish which lenders are most suitable before you make multiple applications.

Why an adviser could make a real difference

• Income assessment: They can identify lenders whose policies may suit your business structure and earnings.
• Business expenses: They can investigate whether certain expenses, such as depreciation or eligible one-off costs, can be added back when calculating income.
• Deposit and equity: They can help determine whether your deposit is sufficient and identify potential lending options.
• Loan structure: They can compare fixed and floating portions, repayment flexibility and the overall cost of borrowing.
• Negotiation: They can seek competitive terms from lenders and help you compare offers.

A mortgage adviser cannot guarantee approval or make a lender accept income it doesn't consider sustainable. However, presenting your finances correctly and approaching suitable lenders can be particularly valuable when you're self-employed.

If your income is complicated, or your taxable income looks lower than your business's underlying cash generation, I'd speak with an adviser before submitting several applications.

3. Christchurch mortgage advisers I'd consider

If you prefer to have someone compare lenders on your behalf, I'd shortlist these options based on their published experience and services.

• Factor Financial — Its Christchurch-based team specifically identifies self-employed and business-owner lending as an area of expertise. This makes it particularly relevant to your circumstances. The firm says its advice is usually provided at no cost, although fees can apply in some situations. Source.

• Squirrel — Holly Weild — A Christchurch and Selwyn mortgage adviser whose published profile highlights experience with self-employed clients and residential lending. Her profile states that she is a salaried adviser, paid the same regardless of the lender selected. Source.

• Christchurch Mortgage Services — An established local service offering residential lending advice and access to a panel of banks and other lenders. Its published lender panel includes ANZ, ASB, BNZ, Westpac and Kiwibank, as well as alternative lenders. Source.

My pick to start with would be Factor Financial or a broker with comparable experience in self-employed lending. I'd ask how they assess business income, which lenders they can access, and whether they charge any fees. These are options to investigate, rather than endorsements based on independently verified customer outcomes.

4. The biggest factor: how your business income is assessed

This is where I'd focus most of your attention.

Banks generally want evidence that your income is sustainable and that you can comfortably afford the repayments. For self-employed applicants, that usually means reviewing financial statements, business performance, personal income and existing commitments.

Here's how different circumstances can affect your application:

Your situation	What it could mean for your mortgage
Your business profits have grown steadily over three years	A positive indicator of income stability.
Your profits fluctuate significantly between years	The lender may take a more conservative view of your income.
You retain profits in the business rather than paying yourselves	The lender may need to assess your business structure and the availability of those profits.
Your accountant has claimed substantial business expenses or depreciation	Ask whether the lender will recognise any eligible add-backs.
You have substantial business loans or personal guarantees	These commitments may affect how much you can borrow.
You have a deposit of 20% or more	This may give you access to a broader range of standard lending options, subject to the lender's criteria.

The precise calculation varies by lender, so I wouldn't assume that all five banks will arrive at the same borrowing figure.

One important consideration

Because you've owned a home before, you may be considered a previous homeowner rather than a first-home buyer. That's not a disadvantage in itself.

Your existing equity, if you have any, could be important if you're selling another property or using proceeds from a previous sale towards your new deposit. If you've already sold your previous home, the amount of cash available for your deposit will be particularly relevant.

5. What I'd prepare before approaching lenders

I'd get the following documents together before applying:

• Your business's latest two to three years of financial statements.
• Your personal tax returns and relevant IRD income information.
• Up-to-date business financials, including a year-to-date profit-and-loss statement if available.
• Recent personal and business bank statements.
• Details of any business loans, personal loans, credit cards and other commitments.
• Evidence of your deposit, including savings or the proceeds of a property sale.
• Details of the property you intend to buy, if you've found one.

ANZ, BNZ, ASB, Westpac and Kiwibank all publish guidance identifying accountant-prepared financial statements as important evidence for self-employed applicants. See the links above for each lender's requirements.

I'd also speak with your accountant before submitting applications if your latest accounts are not yet finalised.

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6. Let me narrow this down to the best lenders for you

I can give you a much more useful recommendation if I understand four things about your finances. You don't need to provide exact figures if you'd prefer to use estimates.

First, roughly how much is your combined annual income from the business?

I'm interested in the income available to you as a couple, rather than just your business's total turnover.

The other details that would help are:

• Deposit: Approximately how much do you have available, or what percentage of the purchase price can you put down?
• Business structure: Are you operating as a limited company, a partnership, or sole traders?
• Profit trend: Have your business profits increased, stayed relatively stable, or decreased over the last two years?

With those details, I can help you narrow the shortlist to the lenders most worth approaching first, explain which aspects of your application are likely to matter most, and identify when a specialist mortgage adviser might offer an advantage over applying directly to a bank.

For your situation in Dunedin, I’d recommend comparing ANZ, BNZ, ASB and Kiwibank through a mortgage adviser who regularly handles self-employed borrowers. I’d also keep a specialist lender in reserve if either of your incomes is difficult to demonstrate using standard financial statements.

The good news is that running your business for three years puts you in a reasonably established position. Many New Zealand banks look for two years of business financial statements, so you may already have the track record they want. The key question is how each lender calculates the income you can use to service a mortgage, not simply how much revenue your business earns. How NZ banks assess self-employed income for a mortgageSelf-Employed Mortgages NZ — How Lenders Assess Your Income

My recommended lender shortlist

1. ANZ

First lender to compare

ANZ is a strong starting point if your business has consistent profits and well-prepared accounts. It accepts financial statements as evidence of self-employed income, preferably prepared by your accountant. Ask how it treats depreciation, one-off expenses and income paid to you as company directors. How to apply for a Home Loan

ANZ home loans

2. BNZ

BNZ is worth comparing if you have two complete financial years and can show stable business cash flow. It explicitly asks self-employed applicants for the business's last two annual financial statements. Its conditional approval process can help you establish a realistic purchase budget before making offers. Preparing for a home loan appointmentGetting conditional approval

BNZ home loans

3. ASB

ASB belongs on your shortlist if your accountant can provide up-to-date financial statements and you want to compare mainstream bank offers. ASB specifically identifies accountant-prepared financial statements as evidence for self-employed applicants. Compare its assessed income and total loan costs with ANZ and BNZ, rather than choosing on the advertised rate alone. Home loan application tips

ASB home loans

4. Kiwibank

Kiwibank is a useful fourth comparison, particularly if you value having a local home-loan specialist to discuss your application with. It asks self-employed applicants for accountant-prepared financial statements and provides conditional approval before you commit to a property. Apply | Home loans

Kiwibank home loans

5. Avanti Finance

A backup if a major bank won't offer suitable terms. Avanti has a specific self-employed home-loan offering, which may be useful if your income structure or financial circumstances don't fit a standard bank assessment. Its specialist lending can cost more, so I'd exhaust suitable mainstream options first. Its published lending guide lists different rates and maximum loan-to-value ratios by loan category. Property Lending

Avanti property lending

These are my recommended lenders to approach, not a claim that one has already approved you or will offer the lowest rate. Lending policies and pricing vary by application.

What matters most for a self-employed couple

I'd ask every lender or adviser to compare these four things:

• How they calculate your income. A business's turnover isn't the same as the income available to repay a home loan. Ask whether they average the last two years, use the most recent year, or allow legitimate add-backs such as depreciation and one-off expenses.
• Your deposit and existing equity. Because you've owned a home before, the equity from a sale or other available savings may strengthen your application. The size of your deposit affects which lending options are available.
• Your business's current performance. If profits have increased, provide recent management accounts alongside completed financial statements so the lender can understand the trend.
• Your actual borrowing costs. Compare interest rates, cash contributions, fees, loan structure and any restrictions on early repayment. Also ask how much each lender will let you borrow based on its own assessment of your income.

New Zealand banks must also operate within Reserve Bank debt-to-income and loan-to-value restrictions, alongside their own affordability criteria. Understanding debt-to-income (DTI) restrictions - Reserve Bank of New Zealand

How I'd approach this in your position

1. Get your accountant to prepare your last two years of financial statements and the latest year-to-date profit and loss.
2. Ask a mortgage adviser to submit your figures to several mainstream lenders and compare the actual borrowing capacity each offers.
3. Get conditional approval before making an unconditional offer on a property.
4. Keep Avanti as a contingency if the banks don't recognise enough of your income or your circumstances need more flexible assessment.

A mortgage adviser can be particularly useful for self-employed borrowers because lenders may interpret the same business financials differently. Check that the adviser is licensed and ask which banks and specialist lenders they can access.

Let me narrow this down to the best two or three lenders for you

There are three details that would materially change my recommendation. Rough estimates are absolutely fine.

With those details, I can give you a more targeted shortlist and explain which lenders I'd approach first, rather than simply listing the major banks.

For your situation in Wellington, I’d recommend comparing a few major banks alongside a mortgage adviser who regularly works with self-employed borrowers.

The good news is that three years of self-employment can be a real advantage when applying for a home loan. You have a track record of running your business, and because you’ve owned a home before, you may already understand the deposit, equity and lending process.

The key issue is how lenders assess your business income. If your income varies from year to year, or you keep profits in the business rather than drawing them personally, one lender may be more flexible than another. The best lender for you isn't necessarily the one advertising the lowest interest rate.

The lenders I’d shortlist for you

1. ANZ New Zealand

First bank to compare

Why: ANZ accepts accountant-prepared financial statements as evidence of self-employed income. I’d put it on your shortlist if you have a solid three-year business history and well-documented earnings. How to apply for a Home Loan

Best fit if: Your business accounts are up to date and you want to compare a mainstream bank offer.

ANZ home loan application requirements

2. BNZ

Why: BNZ explicitly lists the business’s two most recent annual financial statements among its accepted income evidence. That makes it a logical option when you have three years of trading history. Preparing for a home loan appointmentGetting conditional approval

Best fit if: You have two completed financial years and can show consistent business performance.

BNZ application checklist

3. ASB

Why: ASB accepts current accountant-prepared financial statements for self-employed applicants. It is worth including in your comparison, particularly if you already bank with ASB or have a straightforward deposit and debt position. Home loan application tips

Best fit if: Your financial statements clearly demonstrate the income available to service a mortgage.

ASB home loan application guide

4. Westpac New Zealand

Why: Westpac asks self-employed applicants for their latest accountant-prepared financial statements. I’d use it as another mainstream quote rather than assuming your existing bank will give you the best deal. How to apply for a home loan

Best fit if: You want a competitive alternative to compare on rate, fees, borrowing capacity and loan structure.

Westpac application requirements

5. Kiwibank

Why: Kiwibank also accepts accountant-prepared financial statements for self-employed applicants. It gives you another major lender to compare, especially if you prefer a New Zealand-owned bank. Apply | Home loans

Best fit if: You want a broader comparison of rates and lending terms.

Kiwibank application checklist

These are my recommended lenders to approach first, not a guarantee that one will approve you or assess your income more generously. Their published document requirements are similar; their individual credit assessments and offers can differ.

My strongest recommendation: use a mortgage adviser as well

With two self-employed applicants, I would approach a mortgage adviser who specialises in business owners before submitting multiple full applications yourself.

Why? The adviser can help establish how each bank is likely to treat your income and present your financial position clearly. That matters if one of you earns more than the other, your profits fluctuate, or your taxable income is lower than your actual cash flow.

Two Wellington-relevant starting points are:

• Luminate — specialises in self-employed mortgage lending. Explore its self-employed lending service.
• Kiwi Mortgages — works with business owners on home loans and other lending. Explore its self-employed lending service.

Ask each adviser which lenders they can access, how they are paid, and whether they have recently secured approvals for couples with a similar business structure and income profile.

What will matter most in your application?

Here is how I would prepare before approaching the banks.

1. Business financial statements

Have your last two or three years of accountant-prepared financial statements and tax returns ready, plus current management accounts if the latest financial year has ended.

2. How your income is calculated

Banks may assess salary, drawings, dividends or your share of business profit differently. Ask the lender to explain the income figure it will actually use for servicing the mortgage.

3. Deposit and equity

If you are selling a current home, the equity released could strengthen your application. If you've already sold, have evidence of your available deposit and sale proceeds.

4. Personal and business commitments

Be ready to disclose credit cards, personal loans, vehicle finance, overdrafts, business debt and any guarantees. Lenders assess your overall ability to repay, not just business turnover. Find out how much of a mortgage you could get » SortedUnderstanding debt to income ratios

Because you have owned a home before, also check whether you qualify for any applicable previous-homeowner assistance. For example, a previous homeowner may be eligible for a KiwiSaver first-home withdrawal in certain circumstances, depending on the relevant criteria and financial position. Don't assume you are automatically excluded or eligible.

Let me narrow this down to the best lenders for you

The following three details would make a substantial difference to my recommendation.

With those answers, I can give you a more targeted shortlist rather than simply ranking banks by their advertised interest rates.