https://www.ohbaby.co.nz/forum/ Copyright (c) 2006-2013 Web Wiz Forums - All Rights Reserved. Sun, 10 May 2026 09:02:37 +0000 Thu, 29 Jul 2021 09:16:52 +0000 http://blogs.law.harvard.edu/tech/rss Web Wiz Forums 12.05 360 https://www.ohbaby.co.nz/forum/RSS_post_feed.asp?TID=27861 https://www.ohbaby.co.nz/forum/forum_images/web_wiz_forums.png https://www.ohbaby.co.nz/forum/ https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=27861&PID=5917644&title=finance-q-ne-wmortgage-reduced-income#5917644 Author: David268120
Subject: 27861
Posted: 29 July 2021 at 9:16am

well, it depends on you and the amount of time you dedicate to work or generate income and if your income reduces you can be able to search another way, for example, I trade in http://usforexbrokers.com/the-benefits-of-forex-if-you-want-to-become-a-trader-in-the-united-states/ and that helps me too much with advice, brokers and even more, I feel anyone can make money just trading.]]> Thu, 29 Jul 2021 09:16:52 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=27861&PID=5917644&title=finance-q-ne-wmortgage-reduced-income#5917644 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=27861&PID=737904&title=finance-q-ne-wmortgage-reduced-income#737904 Author: littlestar
Subject: 27861
Posted: 03 August 2009 at 2:53pm

I think if you are staying with your current bank then it should be fine as they will look at your history with them. If you are thinking of going to someone else then it might come up.]]> Mon, 03 Aug 2009 14:53:32 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=27861&PID=737904&title=finance-q-ne-wmortgage-reduced-income#737904 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=27861&PID=737863&title=finance-q-ne-wmortgage-reduced-income#737863 Author: clover
Subject: 27861
Posted: 03 August 2009 at 2:07pm

As long as you can service the debt on the combined income it won't be a problem, there are calculators online where you can work out your servicing ratio.

You'll only be able to get a 30 term if you are under 35 (I'm assuming all banks have the same rules).]]> Mon, 03 Aug 2009 14:07:45 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=27861&PID=737863&title=finance-q-ne-wmortgage-reduced-income#737863 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=27861&PID=737848&title=finance-q-ne-wmortgage-reduced-income#737848 Author: sadie
Subject: 27861
Posted: 03 August 2009 at 1:52pm

We did this recently. When we bought our last house three years ago, both DH and I were working FT and with really good salaries. We calculated the mortgage repayments based on that income, and we borrowed almost as much as we could.

DS came along and I stopped working. Fortunately, DH moved jobs and was on the fast track for promotion. Even though our income was reduced by a fair amount with the loss of my salary, we were still ok - we just had a lot less disposable income.

He got offered a promotion in another town, so we had to sell and rebuy. I'm still not working, and his salary is still less than our combined one on our original mortgage application.

Didn't matter at all. Interest rates have dropped, and we have a great relationship with our mortgage guy. We were also lucky enough to make a decent amount of profit on the sale of our Auckland house. Still, our mortgage now is still around $50k more than our old one, and our income never came into question. The bank knows we can service the loan so are fine with it. Our repayments are about the same as the old loan thanks to the lower interest rates. ]]> Mon, 03 Aug 2009 13:52:01 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=27861&PID=737848&title=finance-q-ne-wmortgage-reduced-income#737848 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=27861&PID=737846&title=finance-q-ne-wmortgage-reduced-income#737846 Author: xLUCKYx
Subject: 27861
Posted: 03 August 2009 at 1:49pm

We will be selling our current home - we are going to tidy it up as much as poss and hopefully get a bit more than what we paid as we bought unfurnished and I think homes go for more furnished. We have only been here 2 and a half years though so we don't have loads of equity by any stretch.... We have a good payment history though. We are on a 20 year mortgage and would like to go onto 25 or 30 so our payments would potentially be less or the same... I think I will start talking to a broker. We don't want to sell till summer but I won't bother selling at all if we can't get enough $$ to buy the house we want to.]]> Mon, 03 Aug 2009 13:49:47 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=27861&PID=737846&title=finance-q-ne-wmortgage-reduced-income#737846 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=27861&PID=737843&title=finance-q-ne-wmortgage-reduced-income#737843 Author: busymum
Subject: 27861
Posted: 03 August 2009 at 1:43pm

When we changed homes we had less income (but only one of us working in both cases, so it wasn't half income) but because we had so much equity from our first place the bank was very happy to keep us on. Because we were unsure, we went thru a broker]]> Mon, 03 Aug 2009 13:43:19 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=27861&PID=737843&title=finance-q-ne-wmortgage-reduced-income#737843 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=27861&PID=737835&title=finance-q-ne-wmortgage-reduced-income#737835 Author: caliandjack
Subject: 27861
Posted: 03 August 2009 at 1:38pm

would you be selling your current home?
that would be your equity in your next house, and your ability to repay
we've re-fixed out mortgage with the same bank and they didn't even ask us about our income as we are meeting our commitment as it is
i haven't had a secure income for 12 months, but DH does and can meet the mortgage repayments on his own ]]> Mon, 03 Aug 2009 13:38:05 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=27861&PID=737835&title=finance-q-ne-wmortgage-reduced-income#737835 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=27861&PID=737828&title=finance-q-ne-wmortgage-reduced-income#737828 Author: xLUCKYx
Subject: 27861
Posted: 03 August 2009 at 1:32pm

Here's a curly one...

DP and I want to buy a new house - we are fast outgrowing our current house which was our first home, We bought it when we were both working full-time so looked the part finance wise when it came to getting a mortgage pre-approval.

NOW though, I am concerned we might not be able to borrow as much (we want to borrow more actually) as I am only working part-time. We have no problems meeting our payments and have never missed a beat. So anyone else had any experience and did you get as much $$$?

Edited by alyxw]]> Mon, 03 Aug 2009 13:32:34 +0000 https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=27861&PID=737828&title=finance-q-ne-wmortgage-reduced-income#737828