When were looking at your mortgage affordability we need add in your credit card costs.

All NZ banks have a minimum repayment of 3% of the balance.

Clearly the banks are quite conservative and factor in the costs based on your cards limit. This is due to the availability of the funds and that you can simply head out from home one day and spend up large.

If your credit card limit is $1500.00 this is not a big deal as this will only add a cost of $45.00 to your monthly expense column.

This is a drama if you have a limit of $20,000.
Your monthly expense column would increase by $600.00

If you still want to keep a credit card however would also like to buy its very common practice for us to ask that the banks condition for you to close or reduce the card limit to a point at which the bank will approve the homeloan.

Where there is a will there is a way.

You need to know all the options, just lucky for you as I know them all.