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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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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…
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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…
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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…
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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…
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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…
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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…
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Non-Bank Mortgages
Most people would be surprised at how many people use non-bank mortgages these days. The term “Non-Bank Lending“, “Non-Bank“, “Bank Alternatives” or “Second Tier Lenders” simply refers to those lenders who are involved in the business of providing finance, but are not traditional registered banks. In the past these lenders have been quite a lot…
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Which Is The Best Mortgage Option?
One of the key roles for any mortgage adviser is to source and give you advice on the best mortgage option. Other key roles include getting the mortgage approved, and getting competitive interest rates. What do we mean when we people which is the best mortgage option? As a mortgage adviser I often see people…
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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…
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Sometimes We Need A Fresh Start
We cannot dwell on the past, but unfortunately the banks often do and penalise us for years after we have had something go wrong. A default will stick on our credit reports for 5-years after being listed and when the banks see this “bad credit” they will typically decline lending applications. We say typically because…
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Low Doc Home Loans For Self Employed
New Zealand has a large number of self employed people and small business owners whom find it difficult to meet the banks criteria when it comes to proving income. That’s the main reason some of the non-bank lenders have created low doc home loans. The problem is many self-employed people will talk to their bank…
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You Can Get Bad Credit Mortgages
Bad credit mortgages are possible, but not from your bank. If you have some bad credit you may leave the bank disappointed that they cannot help, even when you have banked with them for many years. They don’t ask why … they just say “NO” your application is declined and your dream is over. Don’t…
