Biggest Mortgage Myths: What Banks Are Actually Checking In 2026 (It's Changed)

What if the home buying rules you think are holding you back don't actually exist anymore?Between outdated advice, myths about needing massive deposits, and the fear of trying to buy on a single income, it is easy to assume you are locked out of the property market before you even start.The truth is that many old lending rules have expired, and with the right strategy, getting into your first home might be much closer than you thought.Claire Williamson is the Director of My Mortgage and 2025 Regional Mortgage Adviser of the Year. She specialises in helping people who thought they were completely out of the home buying game find a way in.In this episode:- Why you do not always need a 20% deposit to buy a house- How Kāinga Ora First Home Loans and 5% deposit options work- How buying solo on a single income is possible- How to buy property with friends or family, and the agreements you need to protect everyone- How everyday debts, like a small credit card limit, can shrink your home loan budget by tens of thousands of dollars- Straightforward steps for self-employed buyers to get approved for a mortgage- How to manage your KiwiSaver and spending habits without giving up your lifestyleWhether buying a home feels miles away or you are actively getting your deposit together, this episode breaks down real, practical steps to get into the property market on your own terms.As discussed on the podcast, Claire wants to help as many first home buyers as possible into their first homes so has given us a sneaky code for 30 of our lucky audience to get her book for free. Add to cart and use code FRANCES.Link here - https://www.mymortgage.co.nz/shop/product/658205/smashed-avo-to-smashed-goals/Find Claire on Instagram @claire__williamson / @mymortgage.co.nz This episode of Making Cents is proudly supported by Odoo. Go to https://www.odoo.com/r/hpl now and try it for free, for 15 days.Follow me everywhere!Facebook / https://www.facebook.com/FrancesCookNZInstagram / https://www.instagram.com/francescooknzTikTok / https://www.tiktok.com/@francescooknzJoin the Money Memo newsletter for a free weekly money tip in your inbox each week https://www.francescook.co.nz/subscribeBecome a confident sharemarket investor by signing up to the Market Memo newsletter https://www.francescook.co.nz/invest#MakingCents #FrancesCook #MakingCentsPodcast #InvestingPodcast #MoneyPodcast #FinancialFreedomProduction and video editing by Lana ByrneAudio engineering by Tash ChittockFilmed by Fanaticals