Convincing a bank to give you a mortgage to buy a house is complex enough in normal times.

Sometimes the hoops you have to jump through to satisfy their criteria seem endless: get a builder’s report, a valuation, a LIM, a list of income and expenses, proof of employment, credit history, accessing KiwiSaver, perhaps even guarantors.

It’s about making sure you don’t overcommit yourself, and it’s likely to get tougher for some over the next month or so as the second tranche of wage subsidies expires along with mortgage holidays.

Even if the Reserve Bank extends the payment deferrals scheme (and remember it’s just a deferral – interest still accumulates), there’s no doubt that the banks will be looking very, very carefully at lending. Mortgage advisers are already reporting that loan applications that would have been granted before the lockdown are becoming much harder to get accepted, even those below the 80 per cent loan-to-value ratio.

Here’s what you need to know about banks’ secret mortgage test rate (