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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…
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BNZ Slashes 1-Year Fixed to 4.49% — What Does It Mean for the OCR?
Recently BNZ made a bold move and dropped their 1-year fixed rate to 4.49%. Whether you’re looking to refinance, fix your rate, or assess your mortgage strategy, this change is worth paying attention to. This rate cut doesn’t happen in a vacuum, it comes against a backdrop of commentary from major banks about OCR trajectories…
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Do You Have the Best Home Loan?
When was the last time you sat down and reviewed your home loan? If you’re like most people, you probably just check the interest rate and move on. But here’s the real question you should be asking yourself: do you actually have the best home loan for your situation? The best home loan isn’t just…
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Why You Should Think Twice Before Letting Banks Link Your Properties
Owning more than one property is a great way to build wealth, but it also comes with important decisions about how to structure your lending. One of the biggest risks I see as a mortgage adviser is when banks link multiple properties together under the same lending arrangement. At first glance, this may seem like…
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How Much Can I Borrow? Understanding Bank Criteria for First Home Loans
Buying your first home is one of the biggest milestones in life – but before you start browsing property listings, the big question is: how much can I actually borrow? Banks and lenders in New Zealand look at more than just your income. They use a range of criteria to assess whether you can afford…
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Thinking of building a your own house in New Zealand?
Building your own home is a dream for many Kiwi families. Designing a property that perfectly fits your lifestyle, needs, and future plans can be exciting – but knowing where to start is often the hardest part. From finding the right section to securing finance with competitive home loan interest rates, there are a few…
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How to Pay Off Your Mortgage Faster as Interest Rates Drop
Why Now is the Perfect Time to Review Your Home Loan Interest rates in New Zealand are finally starting to ease, giving homeowners a chance to reduce repayments when they refix their mortgage. But instead of simply enjoying lower payments, what if you used this opportunity to pay off your mortgage faster and save thousands…
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How to Choose the Right Bank for Your Home Loan
For many first home buyers, the excitement of securing mortgage approval feels like the ultimate win. But while getting approved is a big milestone, it doesn’t always mean you’ve chosen the right bank – or the best loan structure – for your long-term financial goals. At Mortgage Sense, we often meet homeowners who settled for…
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New Granny Flat Rules
We’re sure that there are a lot of Kiwis that are happy to know that new granny flat rules will mean that you will be able to build a granny flat up to 70m² without needing a building or resource consent. That means: The Government have announced that work is underway to enable small standalone…
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How To Choose The Best Bank For Your Home Loan
From experience, I know that for most first home buyers the excitement of just getting a home loan approved feels like a win, but often it means that you do not end up getting the best bank for your home loan. Yes, you might be happy now just to get an approval but if you…
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Buying Your First Home?
Are you thinking about buying your First Home? Do you know there are ways you can buy a suitable home? When we started the Kiwi First Home Buyers Group over 10-years ago, house prices were a lot lower and the group was relatively smaller. Over the years we have grown this group to about 60,000…
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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…
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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…
