Navigating Mortgage Approval During Relationship Breakdown

Financial separations are challenging enough—add self-employment to the mix, and you're facing a uniquely complex situation. This episode dives deep into a fascinating case study that demonstrates how self-employed individuals can successfully navigate mortgage approvals during relationship breakdowns.

We follow the journey of a café owner who, despite the hospitality industry's rollercoaster ride through COVID and economic downturns, managed to secure mortgage approval from three major banks. The secret? Strategic business decisions clearly communicated to lenders. While her financial statements showed the inevitable ups and downs of recent years, her ability to articulate her business strategy and future profitability made all the difference.

The story takes an interesting turn when we explore the implications of New Zealand's Relationship Property Act. Despite owning her home before entering the relationship, our café owner found herself needing to buy out her former partner's 50% entitlement after their separation. This case highlights the critical importance of understanding property rights in relationships and potentially safeguarding assets through contracting out agreements.

What really stood out was the human element of financial advising. During emotionally charged life transitions, having responsive advisors who understand both the financial and emotional aspects makes a world of difference. Our team-based approach ensured someone was always available to respond and support the client through every step of this challenging process.

If you're self-employed and facing similar challenges, or simply want to better understand how property rights work in relationships, this episode offers valuable insights and practical advice. Subscribe to our YouTube channel and follow us on Instagram to stay updated with more financial guidance that speaks to life's complex situations.

Send us a text

Support the show

Buy your first home in NZ Weekly Webinars

You thought it's not possible or the dream is too far away? Come to my webinar and I will show you, you are much closer to your dream, than you think you are!

Join Here - https://bit.ly/4m9SL72