Mortgage for a single mother
This enquiry has come in from a Good Returns reader currently based in the United Arab Emirates. Can we help her out?
Wednesday, April 4th 2001, 3:00PM
by Paul McBeth
This enquiry has come in from a Good Returns reader currently based in the United Arab Emirates. Can we help her out?
If you'd like to respond, email ann@goodreturns.co.nz (include your phone number if you'd prefer us to call you). Your replies will run as a future article on this site, so please indicate if you don't wish to be identified.
Dear Ann
I am a New Zealand citizen, but have lived abroad for 12 years. I am currently selling my property in London and would like to buy a house in Auckland. I will have 75 per cent of the value of the house and will therefore have to borrow only up to 25 per cent.
What is the general feeling from banks lending to single mothers? I am 37 years old, with one daughter aged three years, and would like to work part-time only.
Is it difficult to obtain a mortgage under these circumstances? I presume I will not be eligible for any Government support, as I will be receiving maintenance from my ex-husband.
Many thanks and kind regards...