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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

My partner and I run a business and bought our home last year. Our income is uneven, and our bank treats us like salaried customers whenever we ask about our repayments. Are there banks that are better for self-employed homeowners?

Yes. In New Zealand, there are banks and mortgage lenders that may suit self-employed homeowners better, particularly when your business income arrives in uneven amounts rather than as a regular salary.

The key distinction is that some lenders are better at accommodating irregular cash flow, while others are better at assessing self-employed income. Those are two different problems, and you and your partner may need solutions for both.

Since you bought your home last year, I'd look at two things: whether your current lender can restructure your mortgage to fit your cash flow, and whether another lender would assess your business income more fairly if you refinance.

1. New Zealand banks worth looking at

These are good places to start based on their published home-loan features. They aren't necessarily ranked by how lenient they are towards self-employed borrowers.

1. Kiwibank

Strong option for irregular cash flow

Kiwibank offers a revolving-credit home loan designed for people whose income varies. It works much like an overdraft: money can be paid in when business income arrives, reducing the balance on which you pay interest, and accessed again when needed. Revolving home loan | Home loansFixed rate home loan | Home loans

Best for: Business owners who receive large or irregular payments and need to manage quiet periods between invoices.

Explore Kiwibank's revolving-credit home loan

2. ANZ

ANZ's Flexible Home Loan has no set repayments while you stay within your approved credit limit. You can deposit income and redraw funds as needed. The trade-offs include a potentially higher interest rate, a monthly fee and the bank's ability to review the facility. Flexible MortgageANZ Flexible Home Loan terms and conditions (effective 9 March 2025)

Best for: Owners who want flexibility over when money goes into and comes out of their mortgage.

Explore ANZ's Flexible Home Loan

3. ASB

ASB offers a revolving-credit home loan that allows you to repay and redraw money within an approved limit. This can be useful if your business income fluctuates and you have good cash-flow discipline. Revolving mortgage - Giving you flexibilityShaping your loan payments

Best for: Business owners who want their available cash to reduce mortgage interest, while retaining access to a reserve.

Explore ASB's revolving-credit home loan

One important caveat: flexible repayments don't automatically mean more flexible lending assessments. A bank can offer a revolving mortgage but still assess your ability to service it using conservative calculations of your self-employed income.

2. What about banks that assess self-employed income better?

If your frustration is that the bank doesn't understand how your business earns money, I'd consider a mortgage adviser who regularly works with self-employed clients and can compare lenders' assessment criteria.

Mainstream banks often ask for two years of annual business financial statements. For company directors and business owners, the way you pay yourself, retain profits in the company, and claim business expenses can affect the income a lender recognises. Some lenders may consider alternative evidence or have different policies. Preparing for a home loan appointmentHow NZ banks assess self-employed income for a mortgage

A useful distinction:

  • If your business is profitable but your personal drawings vary: ask how lenders treat retained earnings, dividends and legitimate add-backs to business profit.
  • If your income varies significantly from year to year: ask whether the lender averages income over multiple years or puts more weight on the most recent year.
  • If your accounts don't reflect your current earnings well: ask whether any lender can assess your situation using additional financial evidence. Specialist or non-bank lending may be an option, but check the interest rate, fees and exit strategy carefully.

I wouldn't assume you need to leave a major bank. A better-prepared application, or a different loan structure with your current bank, could be enough.

3. The mortgage structure I'd investigate first

For a couple running a business, one common approach is to split the mortgage into two parts:

Part A: Fixed-rate home loan

Keep most of the mortgage on predictable repayments, so you know the minimum amount you need to cover each month.

Part B: Revolving-credit or offset facility

Use surplus business income, once tax and business expenses are covered, to reduce interest or build a cash buffer. The exact setup depends on your lender and how your accounts are structured.

This arrangement can give you some payment certainty without losing all flexibility. However, revolving credit is not free money: the interest rate may be higher, and repeatedly redrawing the balance can slow your mortgage repayment.

4. What I'd do in your position

  1. Ask your current bank for a review specifically with a home-loan specialist who understands self-employed borrowers.
  2. Speak to an independent mortgage adviser who can compare several banks and, if appropriate, specialist lenders.
  3. Have your last two years of financial statements, recent management accounts, tax records and a clear picture of business cash flow ready.
  4. Compare the total cost of switching, including any fixed-rate break fees, legal costs and changes to interest rates.

You can check whether an adviser is appropriately registered through the New Zealand Financial Service Providers Register. How do I find an adviser?Searching the Financial Service Providers Register

Let me narrow this down for you

There is one important detail that will help me point you towards the most relevant lenders and options.

What is the main problem you're having with your current bank?

Ask anything

ChatGPT can make mistakes. Check important info.

Captured 11 October 2026

Gemini · National

My partner and I run a business and bought our home last year. Our income is uneven, and our bank treats us like salaried customers whenever we ask about our repayments. Are there banks that are better for self-employed homeowners?

Running a business while trying to manage a home loan with uneven cash flow can be frustrating, especially when traditional retail bank systems attempt to force self-employed income into a rigid, salaried mold.

Because standard retail bank lending policies are built around predictable PAYE streams, they often rely heavily on a blunt baseline: taking an average of your net profit across your last two completed financial years (as filed with the IRD). If your income fluctuates or you use smart tax-deduction strategies to lower taxable profit, mainstream bank calculators can severely underestimate your true borrowing or repayment capacity.

Why Major Banks Approach Self-Employed Income This Way

  • The "Tax Minimization" Trade-off: Accountants naturally optimize your books to minimize tax liabilities. However, banks assess affordability strictly using what you declare. If net profit appears low on paper, automated bank algorithms view you as high-risk, regardless of your actual cash flow.
  • Averaging Volatility: Standard credit teams look for stability. If Year 1 was great and Year 2 was lean (or vice versa), they default to the lower year or a conservative 2-year average rather than evaluating current momentum or future contracts.

How to Find Lenders That Better Understand Business Owners

Instead of looking for a single "best" major bank name—since retail bank policies shift and depend heavily on the individual mobile mortgage manager or credit assessor—consider how different tiers of lenders handle self-employed applicants:

1. Mainstream Banks with Stronger Commercial/Business Wings

While all major New Zealand retail banks (such as ANZ, ASB, BNZ, Kiwibank, and Westpac) operate under the same core credit regulations, some have dedicated mobile business banking managers who understand complex structures (look-through companies, trusts, sole trader setups) far better than standard branch staff.

  • When they work best: If you have at least 2 full years of financials, but your income has trended upward, a skilled business-focused mobile manager can present an "override" case to credit risk by using add-backs (such as depreciation, one-off capital expenses, or retained earnings in a company structure) to show your true disposable income.

2. Specialist and Non-Bank Lenders ("Alt-Doc" Pathways)

If your business is newer, or if your latest year reflects uneven cash flow that doesn't fit a clean 2-year average, non-bank lenders (such as Pepper Money, Resimac, or Basecorp) often provide more practical flexibility.

  • How they work: They frequently offer "Alt-Doc" (Alternative Documentation) home loans. Instead of waiting for two years of completed IRD terminal tax assessments, they may assess your income using 6 months of business bank statements, GST returns, or an accountant's certificate.
  • The trade-off: Interest rates on alternative pathways can carry a slight premium compared to main bank "special" rates, but they allow business owners to secure property or restructure repayments based on real-time cash flow without waiting for yearly tax cycles to close.

Practical Strategies to Fix How Banks View Your Repayments

  1. Work with a Independent Mortgage Broker: A self-employed-specialist mortgage broker acts as your translator. They know which specific bank credit teams are currently taking a common-sense view of fluctuating income and which underwriters understand seasonal business cycles. Crucially, a good broker can package your financials with an explicit executive summary explaining why cash flow is uneven and highlighting true business health.
  2. Leverage "Add-Backs" with Your Accountant: Have your accountant prepare a clean, comprehensive management profit-and-loss (P&L) statement alongside your formal year-end accounts. Highlight non-cash or discretionary expenses (like depreciation, asset write-offs, or one-off setup costs) that inflate expenses on paper but leave cash in your pocket.
  3. Structure Flexible Loan Facilities: When you do structure your mortgage, ask for features designed for variable income streams, such as a revolving credit facility or an offset account. These allow you to park business or personal cash surpluses temporarily to offset daily interest charges, giving you breathing room during leaner months without triggering missed payment alerts at the bank.
Ask Gemini

Gemini is AI and can make mistakes.

Captured 11 October 2026

AI Overviews · National

My partner and I run a business and bought our home last year. Our income is uneven, and our bank treats us like salaried customers whenever we ask about our repayments. Are there banks that are better for self-employed homeowners?

AI Overview

Yes, there are lenders in New Zealand that are significantly better suited for self-employed homeowners with uneven incomes. Mainstream retail banks (like ASB, BNZ, and Westpac) typically rely on rigid automated algorithms designed for standard PAYE salaried employees. When your income fluctuates, these systems often struggle to calculate your actual financial strength.

However, the mortgage market accommodates business owners through two distinct channels: specialist main banks and non-bank lenders.

1. Main Banks with Flexible Policies

If you want to keep your mortgage with a traditional bank, some treat self-employed income with more flexibility than others:

  • ANZ: Famously recognized by mortgage advisers as one of the most flexible major banks for self-employed borrowers. Unlike competitors who average out two or three years of income, ANZ can look at a single year of financials in isolation if the business shows strong upward growth.

  • SBS Bank, TSB, and The Co-operative Bank: These smaller, New Zealand-owned banks often bypass rigid algorithms in favor of a manual, human-centric underwriting process. They are much more willing to accept a single year of audited financials backed by strong recent trading data.

2. Non-Bank & Specialist Lenders (The Better Fit for Uneven Income)

If your primary bank treats your fluctuating income as a risk, specialist non-bank lenders are designed specifically for your situation. They offer "Alt-Doc" (Alternative Documentation) loans , which look at your real-time cash flow rather than historical net profits.

  • Pepper Money NZ & Liberty Financial: These are premier near-prime lenders in NZ. Instead of demanding two years of formal accountant reports, Pepper Money allows you to verify income using six months of GST returns, business bank statements, or a verified accountant's declaration.

  • Avanti Finance & Resimac: Perfect for business owners whose accountants have legally reduced their taxable net profit. They allow for "add-backs"—meaning they will add non-cash expenses like depreciation, home office deductions, or one-off startup costs back into your income pool to boost your calculated repayment capability.

Strategic Loan Structures for Uneven Income

When you talk to a new lender or a broker, look into restructuring your loan to handle seasonal or uneven cash flow:

Loan Structure How it Helps Self-Employed Borrowers
Revolving Credit / Offset Loans Acts like a giant overdraft. When your business has a high-income month, you dump the extra cash here to instantly reduce your mortgage interest. When income dips, you can draw back out of it.
Split-Tranche Structure Keeping a portion of the loan on a floating or revolving credit rate allows for massive lump-sum repayments without penalty whenever the business has a lucrative quarter.

How to Proceed

Because every bank reads business accounts differently, applying directly can impact your credit score if you get rejected.

If you want to find the best setup, consider talking to a mortgage adviser (broker) who specializes in self-employed lending. They don't charge you a fee (the chosen lender pays them), and they can translate your financial statements into a "lender-ready" story before any official application is submitted.

To help narrow down your options, could you share how long your business has been trading and whether you have up-to-date GST returns or finalized annual accounts?

Ask anything

Captured 11 October 2026