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With 32 years banking & broking experience we'll ensure you get expert financial advice

BANK of 

BANK of MUM and DAD is not a registered bank in New Zealand 

The term "Bank of Mum and Dad" or BOMAD is a colloquial phrase used to describe parents who provide financial assistance to their adult children. This may include helping their children with purchasing their first home, expenses such as rent, mortgage payments, education fees, or even starting a business.


The "Bank of Mum and Dad" has become a popular phrase in recent years due to rising living costs and increased financial pressures on younger generations. Many parents feel a sense of obligation to help their children, particularly as they may be struggling to make ends meet in a challenging economic climate.


Its estimated that $22.6 billion in cash and loans to adult children, helped first home buyers is now the 5th biggest home loan lender, according to Consumer NZ.   

However, while the "Bank of Mum and Dad" can be a lifeline for some families, it can also be a source of tension and conflict. Parents may struggle to balance their desire to help their children with their own financial needs, and children may feel guilt or resentment if they perceive that their parents are sacrificing their own financial security to help them.

We at ADVOCO Mortgages can help you navigate to pro and cons and do's and don'ts when your parents want to help you buy your first home. 


Here you'll learn how to make a Home Ownership Plan, so you can improve your chances of getting a mortgage to buy your home. If you're a First Home Buyer (FHB) using KiwiSaver or getting help from Bank of Mum and Dad (BOMAD), moving up the property ladder, buying an existing home, new off the plans 'turnkey' or building new with a fixed price build contract - we'll help you plan your home ownership journey and advise you on the do's and don'ts.   


We'll provide advice on how to improve your chances of getting a mortgage. With changes to The Credit Contract and Consumer Finance Act (CCCFA) getting a home loan just got a whole lot harder - we can help you navigate this legislation so it works in your favour.   


Let us deal with the paper work and the mountain of forms that need completing ie. FATCA, Nature & Purpose, AML/CFT. You'll still need to complete an online application and provide supporting documents ie. income, bank statements etc. We'll handle the rest as your time can be better spent looking for the right home for your family.     


We've been writing mortgages for 22 years and have excellent relationships with over 39 banks, non-bank lenders, finance companies and private lenders. These business relationships have been built based on trust and the quality of our mortgage applications we've presented over the years. We will be your best advocate for your mortgage.    

An email from ANZ Bank 

"Hey Steve, 

This is a very simple message from me but I wanted to acknowledge the high standards that you set when you are sending deals to us… the deals you submitted to us went through our pre-screening team 100% clean and none were deferred for further info! This just tells me that the deals you prepared were presented at a high calibre …

Chris Trenuela

ANZ Business Development Manager"


Now that you have a mortgage - our service does not stop there. We provide ongoing advice and support for the life of your loan. Advice of fixed interest rates, loan structure, how it pay it off quicker (saving you tens of thousands of dollars), loan top ups when needed and we will refer to you the right people to protect your life, income and assets. 


Getting the right advice is essential to you achieving your financial goals. You’ll want to know the advice you're getting is from an Adviser who knows his financial products and service offering.  


Steve has been a Mortgage Adviser since 2001. In 2003, his first exam through AdviserLink he passed the  Certificate for Essentials of Mortgage Broking with Honours


In 2023, Steve achieved an Excelling Outcome a GPA of 7 at Massey University Auckland. Overall grade of  A-   for Certificate in Financial Advice 


Certificate in Financial Advice   

  • Introduction to Financial Advice grade of  A  and GPA of 8 with unit grades of  A+, A & A-  


  • Essentials of Residential Property Lending Advice grade of  B+  and GPA of 6 with unit grades of A-, A- & B-  


You can be assured Steve will provide you with excellent advice and be your home loan advocate. 

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