Bank/ mortgage

[Mr and Mrs S]

Hello, we have been thinking about moving to the south island, we plan to stay with the inlaws for a few weeks or a month to settle in look for a house that sort of thing, I was wondering from opening a NZ bank account how long would it take to apply for a mortgage? I understand that I would need to build up my credit rating.

Thanks for any advice.

[Sun777]

We initially opened our account with Westpac and at that time they mentioned it would take 6 months for our credit rating to build up in NZ, however this period might differ with other banks. I think mortgage also depends on how much deposit you are willing to put up with, government bonds, other investments etc.

[alldone]

You may be able to get a mortgage almost straight away, depending on the job you have, amount of deposit etc. You can always ask some of the banks.

[Adams Girl]

If you can work for a bank, you can get one pretty much straightaway...

[Twunky]

You may need to have a few conditions in place but my advice is to speak to a mortgage broker - ask around for a few recommendations and see what they tell you.