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Home Loans

How much deposit do I need?

Lenders have recently clamped down on the deposit requirements for home buyers, so if you are asking yourself "How much deposit do I need for a home loan" you need to read the following so know what banks and other lenders need from you. The major lenders such as BNZ, ANZ, Westpac and AB have all announced that they are "hitting pause" on borrowers with less than 20% deposit for a home purchase. However, there are specific circumstances where they will consider lending to borrowers who have less than 20% such as; New home purchases (buy a brand new home [...]

2022-01-25T10:46:49+13:0025/01/2022|Categories: Blog, Home Loans|
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Refinancing your mortgage

Refinancing your mortgage may seem attractive right now, especially if you are being offered a very attractive fixed rate for the next few years.  However, there are some factors you will need to consider before moving to another lender. Refinancing costs What are the costs associated with refinancing to another lender? you could have any (or all) of the following costs. Legal Fees These can vary quite substantially between legal firms, the number of properties you are refinancing, and how complex your financial arrangements are now which will take more work in refinancing your mortgage, then, there are Trusts, Trustees [...]

2021-11-22T14:57:57+13:0022/11/2021|Categories: Blog, Home Loans|Tags: , , , |
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Pre Approved Home Loan

Having a Pre Approved Home Loan will provide you greater certainty of what a lender will provide you, and gives you some level of comfort when you go house hunting, but how long does this last and what if the market or the lending criteria changes, what happens to your pre approval. Pre Approvals are limited Pre approval from a lender has a limited time frame, and right now 90 days may be the most time a pre approval will last, then you will need to update your loan application and provide more recent supporting information.  This length of time [...]

2021-09-24T18:30:57+12:0024/09/2021|Categories: Blog, Home Loans|Tags: , , |
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Cheapest mortgage rates

We now have the cheapest mortgage rates...ever! If you're asking yourself, "is now a good time to buy" as far as interest rates go, we've got the cheapest mortgage rates we've ever had.  Let's put it in perspective and compare dollars for dollars on what a mortgage interest could have cost you at 6.00% and what it would cost you today at 2.95% which should help you get an idea what a mortgage repayment will cost. Mortgage 1 If you had a mortgage of $500,000 over 30 years at 6.00% your fortnightly repayment would be $1383 and you would [...]

2020-11-15T22:25:33+13:0017/05/2020|Categories: Blog, Home Loans|Tags: , , , |
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Buy your own home

Could you buy your own home? More recent news on property prices getting higher and higher while homeownership is at its' lowest levels for 60 years and it's getting harder to buy your own home.  So what does this mean for you and what could you afford to borrow? So what is happening now? In a recent NZ Herald article, there were comments about what factors are driving prices and what could be done to make more homes more affordable. Currently, investors don't pay capital gains tax, so they continue to finance more homes and will continue to do so, [...]

2020-11-15T23:02:48+13:0020/02/2020|Categories: Blog, Home Loans|
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How to use KiwiSaver to buy your first home

If you want to know how you can use KiwiSaver to buy your first home read on and find out what you need and how buying your first home using KiwiSaver, you have to be in KiwiSaver for at least three years before you can use KiwiSaver as a deposit or part of a deposit to buy a home. It's important to understand that if you use your KiwiSaver to buy your first home, you may also be able to get a HomeStart grant from the Government through a Welcome Home Loan. You do not have to get a Welcome [...]

2019-06-25T07:00:00+12:0025/06/2019|Categories: Blog, Home Loans|Tags: , |
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Find a Mortgage Broker

If you want to find a mortgage broker when you're looking for a home loan, then here are some tips to choosing a broker, especially if you do not have an existing working relationship with a mortgage broker already. 1. Establish Trust Firstly, you need to find a mortgage broker you can trust. If you don't already use a broker, ask around, ask people you know who have used a broker before, and get a recommendation. Getting a recommendation from someone you know is one of the best "trust" measurement tools you can use, after all, you wouldn't recommend anyone [...]

2019-01-21T15:28:03+13:0021/01/2019|Categories: Blog, Home Loans|Tags: , , |
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Best bank mortgage

Who has the best bank mortgage? Who has the best bank mortgage is an important question when you are looking to buy a home or refinance a current home, but it may not be a bank at all, but rather a Non-Bank lender who are who are not banks, more defined, not a registered trading bank. The leading trading banks have the majority of mortgage lending in New Zealand, and also they give us a sense of security when it comes to lending.  We can walk into their offices, talk face to face with staff, see their fleet vehicles driving around [...]

2018-09-20T12:13:33+12:0020/09/2018|Categories: Blog, Home Loans, Mortgage Finance|Tags: , , , , , , |
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Best mortgage repayment insurance

BEST MORTGAGE REPAYMENT INSURANCE The best mortgage repayment insurance depends on what your needs are. Mortgage repayment insurance is one of the more popular insurance products purchased (aside from home, contents and car insurance) because it provides security in meeting your mortgage repayments in the event of sickness or accident. There are three sources of mortgage repayment insurance. You can buy it over the counter from a bank, sometimes directly with an insurer or use an adviser who usually can provide more than one option. HOW DO BENEFITS VARY? The difference between mortgage repayment insurance products can differ substantially, but [...]

2018-04-22T23:41:45+12:0022/04/2018|Categories: Blog, Home Loans, Mortgage Finance, Mortgage Repayment|Tags: |
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Sweetening the home loan deal

Banks have been throwing everything they can to keep lending and it has been harder for them in recent times with the changed and property lending restrictions. SWEETENING THE HOME LOAN DEAL If you have been a buyer in the property market over recent years, you may have been offered some additional incentive that we (or your mortgage broker) would have talked to you about when your home loan was approved. The bank would offer some form of enticement to accept the loan offer from them, even as far as to offer cash towards legal costs or other costs.  It’s [...]

2017-03-11T11:08:09+13:0011/03/2017|Categories: Home Loans, Mortgage Finance|Tags: , , |
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