-
The Kāinga Ora Maintenance Clause (for First Home Loans)
If you intend to buy your first home using the Kāinga Ora low deposit First Home Loan scheme then you need to be aware of the eligibility and the maintenance clause that they have – Kāinga Ora require that any maintenance on the property cost less than $10,000 to repair and you need to both…
-
What Is A Revolving Credit Mortgage?
A revolving credit mortgage works like a large overdraft or credit card, and mortgage advisers will often use a revolving credit as part of the overall mortgage. What is Revolving Credit? Revolving credit is an account that is generally linked to a mortgage secured by property and allows you borrow money up to a maximum…
-
Why Do People Refinance Home Loans?
You might think there are plenty of reasons to refinance your home loan, but as a mortgage adviser I have learned that there are really just a few. Many people that do refinance home loans may have personal reasons that they do not wish to discuss, or may be one of the more common reasons…
-
Stop Renting and Buy Your First Home
Stop renting and buy your first home this year. It’s not always easy to buy your first home but it’s not much fun renting either, especially if you believe that you will remain renting forever. As a mortgage adviser in Auckland I know that it’s not always easy to buy a home. House prices are…
-
What To Do If The Bank Says “NO”
Unfortunately hearing the bank say “NO” to a mortgage application is becoming more common these days, particularly for First Home Buyers and Self Employed borrowers. They can decline your application which will make no sense to you, especially if you were expecting an approval. So what to do if the bank does say “NO”? We…
-
Is It Okay For Banks To Link My properties?
When you own more than one property the bank will want to link your properties, and while it is the easy option it is not the best option. You need to retain control over your properties and finances, and it’s easy to lose control and options when the bank has linked your properties together.\ Of…
-
Can A Single Woman Buy A Home?
So you might be wondered can a single woman buy a home by herself these days. As a mortgage adviser I’ve had many single woman looking to buy a first home on their own and I can tell you that it’s definitely possible. Unfortunately I’ve also spoken to many that have been told by their…
-
My Top FIVE Tips For First Home Buyers
As a mortgage adviser I get to see a lot of people in varying situations that want to get their first home, and with that I have created a list of tips for first home buyers that I’m happy to share. These are my 5 top tips for first home buyers. Let’s have a look…
-
Does A Student Loan Affect Getting A Mortgage
As a mortgage adviser, and from our Facebook Group I hear from lots of first home buyers asking “does a student loan affect getting a mortgage” and if they can. The answer is YES your student loan does affect your ability to get a mortgage, or at least it impacts on the amount the banks…
-
Getting Help Dealing With Mortgage Arrears
Kiwis often don’t know where to get help dealing with mortgage arrears. They are told to speak to their banks, but do not feel comfortable dealing with some credit person that is hidden behind an email address of 0800 number. It’s difficult to know what the banks credit people or hardship teams will do. Understanding…
-
Direct to the Bank or go to a Mortgage adviser?
We hear this debated on social media all the time – people saying go directly to the bank for a home loan while others say you should use a mortgage adviser. To help answer this we decided to do a short article and to focus on just the one main reason why going directly to the…
-
Non-bank lenders: a reliable alternative for your mortgage?
Short answer: a non-bank lender offers home loans but doesn’t hold a New Zealand banking licence. Credit unions, building societies and specialist mortgage companies all fall into this group. They can often lend when a bank won’t, for example when your income is hard to prove, you’ve had credit problems, or your investment plans don’t…
