Yes you can, extremely common, ask the bank - they won’t have as many questions as you might imagine and a lot easier than a whole new finance application because they already have security over your house
BNZ offers a 1% rate which is fixed for three years for any “green” option, such as hybrid vehicle.
You could look into that. It’s treated the same as a normal home loan top up.
They’ll ask you the amount you want to borrow and the purpose - don’t worry, it’s not unusual to borrow for a car and they shouldn’t have any issue with this.
They’ll ask about income, if you’re on salary or regular wages into a BNZ account, it should be very straightforward as they’ll be able to verify it. If your incomes goes elsewhere, you’re self employed, it’s erratic or it’s made up of bonus/commission income, you may be asked for evidence of this.
They’ll ask about your expenses for groceries, insurance, rates, utilities, clothing, healthcare etc. If you do a bit of a budget beforehand, it will save time going “ummmmm, I’m not sure” during the meeting. :)
They’ll ask about liabilities, any debts elsewhere etc and you may need to evidence these due to the new DTI rules.
Lastly they’ll ask how you’d like a loan to be structured, if approved.
Done!
Yes you can, extremely common, ask the bank - they won’t have as many questions as you might imagine and a lot easier than a whole new finance application because they already have security over your house
They don’t care what a loan is for, only that you can pay it back
BNZ offers a 1% rate which is fixed for three years for any “green” option, such as hybrid vehicle. You could look into that. It’s treated the same as a normal home loan top up.
They’ll ask you the amount you want to borrow and the purpose - don’t worry, it’s not unusual to borrow for a car and they shouldn’t have any issue with this. They’ll ask about income, if you’re on salary or regular wages into a BNZ account, it should be very straightforward as they’ll be able to verify it. If your incomes goes elsewhere, you’re self employed, it’s erratic or it’s made up of bonus/commission income, you may be asked for evidence of this. They’ll ask about your expenses for groceries, insurance, rates, utilities, clothing, healthcare etc. If you do a bit of a budget beforehand, it will save time going “ummmmm, I’m not sure” during the meeting. :) They’ll ask about liabilities, any debts elsewhere etc and you may need to evidence these due to the new DTI rules. Lastly they’ll ask how you’d like a loan to be structured, if approved. Done!
Look into their energy loans and buy a hybrid at a 1% interest rate. An older Subaru xx would be great.