Mikey Smith

speaker

1,937 appearances 5 recordings 1 series first heard May 2026 last heard 9 Sep

Mikey Smith’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 5 in all, peaking in Sep 2026 with 1.

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Keep The Change · How To Get A Mortgage In New Zealand: Mikey Smith of Guardian Smith · 15 Jul 2026 podcast

Not the milli.

They said you could afford to buy for a milli, but once the security that the bank is taking the loan on, they get told it's $950.

They're like, I'm not letting you have a milli against that because if you do fail...

yeah we're only going to get the 950 so it has to be 950 as your max yeah why would I lend you a milli for this when it's not actually the market is telling us it's worth 950 yeah it's not a market it's a valuer sorry another thing that I think is a bit of a scam anyway sorry valuers but anyway so that that's what that happens anyway

You go get the valuer, spend $1,000.

You're like, cool, I'm going to this auction on Thursday.

Auction goes to $9.55.

Sorry, you wasted $1,000.

You can't bid on it.

So there's other things that you have to consider.

They will credit check you before you settle.

But yeah, that kind of stuff does happen.

But you have to be aware of that, right?

Because if you went in an auction and put your hand up and you went to the million and then the bank are going to force you to get the valuation anyway after you've unconditionally won a property and it comes back at 950, you are cooked.

Yeah.

So you have to be like aware in advance.

doesn't mean you can't go to an auction you can just pay the thousand dollars every time you go to an auction but up to the valuation price and you might get one i've seen it happen before you just have to be aware of how that process works because you might rinse through five valuations and you know if you do valuation a thousand bucks and a building report at 600 and lawyers over the documents every time all of a sudden it's cost you 15 grand to buy your first home yeah where was that like where's that gone so be careful and just like get advice around it um then when you do buy the home

the lower deposit first home buyer um can get rinsed on interest rates different banks have different policies around this but generally speaking there is a low equity margin so they charge a higher rate because i don't have as much equity as much yeah yeah and i won't go through all of them because everyone has a different thing some banks are better than others in this regard and some are more lenient some will will let you take it off

earlier than others when you reach certain equity positions and stuff like that um but yeah you have to be aware of it because your home loan might not you know we see it all the time on like facebook groups and stuff and it's like my friend told me they got 4.49 why am i 5.09 and i already know

Yeah, you're about to expose yourself publicly that you put less of a deposit in than your friend.

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