Why a flatmate could be the secret to affording your first home

<p><strong>Each week BusinessDesk and the NZ Herald's Cooking the Books podcast tackles a different money problem. Today, it's how to boost your income to get a mortgage application approved. Hosted by Frances Cook.</strong></p> <p>First home buyers are finally getting the breathing space they've needed for a while. </p> <p>The shocking house price increases have not only stopped, prices are falling and look like they'll continue to slide a little further. </p> <p>It's still certainly not easy to get into that first home, as now mortgage lending is tougher, but that's something we can work on. </p> <p>There are small techniques that can have a bigger impact than you would think. </p> <p>For instance, just taking on a flatmate or boarder could mean the bank is willing to lend you $100,000 more for your mortgage. That's a big increase in borrowing power. </p> <p>There are also things you should know about if you're willing to consider building, and impacts from the government changes earlier this year. </p> <p>For the latest podcast I talked to Claire Williamson, mortgage advisor and director of MyMortgage.</p> <ul> <li> If you have a question about this podcast, or a question you'd like answered in the next one, come and talk to me about it. I'm on <a href="https://www.facebook.com/FrancesCookNZ/">Facebook here</a>, <a href="https://www.instagram.com/francescooknz/">Instagram here</a>, and <a href="https://twitter.com/FrancesCook">Twitter here</a>.</li> </ul><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>