If you're an Uber driver in New Zealand and you're looking to obtain a home loan, you may be wondering how banks will treat your Uber income. The good news is that many banks in New Zealand are open to considering Uber (and other ridesharing income for that matter!) as a source of income when it comes to home loan applications. However, there are certain criteria you need to meet in order to be considered for a home loan based on your Uber income.

First and foremost, it's important to understand that banks in New Zealand have different lending criteria, and not all banks may be open to considering Uber income as a source of income. It's a good idea to chat to a mortgage adviser and find out which banks are more open to considering Uber income before you apply for a home loan.

Of course, there are several criteria you need to meet in order to be considered for a home loan. These include:

1. Demonstrating a consistent income stream: One of the key criteria that banks will look at when considering your Uber income is how consistent your income stream is. This means that you'll need to provide evidence of your Uber earnings over a sustained period of time. A full set of financials is ideal here. 

2. Demonstrating financial stability: In addition to demonstrating a consistent income stream, banks will also want to see that you're financially stable. This means that you'll need to provide evidence of your other income sources and expenses, as well as any debt you may have.

3. Meeting minimum income requirements: Banks in New Zealand typically have minimum income requirements for home loan applications. You'll need to ensure that your Uber income, together with any other income sources you may have, meets the minimum income requirements of the bank you're applying to.

4. Meeting deposit requirements: Finally, you'll need to meet the deposit requirements of the bank you're applying to. This typically involves having a minimum deposit of 20% of the property's value.

If you meet these criteria, you may be eligible to apply for a home loan based on your Uber income. However, it's important to note that the lending criteria for home loans can vary from bank to bank, so it's a good idea to speak to us first find out more about your options as every situation is slightly different. 

In conclusion, while banks in New Zealand may be open to considering Uber income as a source of income for home loan applications, there are certain criteria you need to meet in order to be eligible. By demonstrating a consistent income stream, financial stability, meeting minimum income and deposit requirements, you'll be well on your way to securing a home loan based on your Uber income.