Michelle Isemonger

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262 appearances 1 recordings 1 series first heard Jul 2026 last heard 19 Jul

Michelle Isemonger’s voice in public audio — every appearance, attributed to the second.

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The Prosperity Project · What banks really check before approving your mortgage · 19 Jul 2026 podcast

we're then having that conversation going if you're looking at a property you might need to tick some conditions off as well as I'd recommend you get an insurance quote and especially Auckland is notorious for having properties that have unconsented work as well so it's not just sort of the I guess integrity of the building it's actually well has a garage been slapped on the back of the property and not got consent type thing so yeah we're definitely having those conversations a lot earlier.

Some of the banks do ask a lot of questions when the build is over 12 months away.

There are some banks that do actually do pre-approvals for 12 months when it's specifically for a new build.

So what that would look like is essentially, of course, you pay your deposit on the property once you're unconditional.

So that includes getting a valuation because you need to get a valuation done on the property afterwards.

Yes.

Yeah, yeah, yeah.

So the valuer essentially uses the plans, goes and visits the site and gives their opinion in terms of what the valuation is.

And then at the tail end of it, that valuer will go back and essentially take it off and go, yep, it's built to exactly how it was supposed to be.

And realistically, of course, the bank's not going out and looking at these properties.

So they need a professional to go out and say that the building looks like it should do.

But yeah, I mean, it's the pre-approvals essentially depending on the bank.

Some banks do 12 months, some do six months and some are still only doing three months.

And it's a matter of having a conversation with someone where

If the build is not going to be finished for 12 months, it's going, you need to make sure that your statement of position either improves or stays the same in terms of that means don't go out and buy a new car.

Don't take credit cards.

Yeah, don't do anything.

Yes, exactly.

Yeah.

So, and I mean, that's where you're working between the client and the bank to try and ensure that everything does stay the same.

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