My Money December Update
December 6, 2019
Reserve Bank orders banks to increase capital by $20 billion
New Zealanders can expect to pay approximately $5 more a fortnight on a $100,000 mortgage as commercial banks are ordered to increase the capital they have in their reserves.That is one of the estimated effects from the Reserve Bank's much-anticipated decision on how much ca...
How would you like to pay half the interest rate your bank quoted just due to property zone? True story from this week
November 15, 2019
Short Case Study
Michael and Sue approached their bank to upgrade their home in a rural area which had a house, flat and small cafe.
Both Michael and Sue are self-employed and don’t need income from café to service the loan.
Their NZ bank approved the loan and they went unconditional...
Why Use a Mortgage Adviser?
November 13, 2019
As Mortgage Advisers, we take care of all aspects of the application process and our application form is accepted by all of the lenders. We stay up to date with which bank prefers which type of deal and which type of client – giving every type of deal (no matter how big or...
Latest market update from Stephen Roberston
November 1, 2019
Interest Rates
Don't think rates will fall further? they can, and they will. ANZ predicts another 3 rate cuts by May next year.Coolest Rates: 3.54% for 1 year, 3.45% for 2 years, cash backs available for new lending.
Short Case Study
Mel...
Deposit saving ideas
September 26, 2019
First, set a goal and a date. Without a date, you will never get there. Set up a separate bank account for it. Call it ‘House Deposit Savings’ so it removes the temptation to dip into the funds. Ignore the interest rate on the account, as it will be small and will not be...
Government’s announcement of changes to home ownership products
September 6, 2019
The Housing Minister this week announced a number of changes to the Homestart Grant and the Welcome Home Loan to come into effect on the 1st of October.
To summarise here are the key points of the Minister's press release:
The minimum deposit requirement for the First H...
BAYLEYS AFTER FIVE ECONOMIC OVERVIEW
August 23, 2019
Through my long-standing association with Bayleys we are pleased to be in a position to offer a limited number of spaces to this informative event at a pivotal time in NZ’s economy where one of the best known economic voices will share his views.
Come along and listen and ...
How to save the home deposit and not keep renting
August 13, 2019
Your rent can often be about the same as you would pay in mortgage repayments, so why not own the home!
First home buyers account for nearly a quarter of all house sales right now, so its good news out there. But the challenge is finding the deposit. Here are some ways ...
Recent Case Studies
July 26, 2019
Some interesting recent cases I have dealt withI get all sort of people coming to me, some with very interesting stories. Here are three: Are you thinking you could get better rates? A top client asked his bank to offer him better rates and calculate a break fee. He was...
The process for obtaining a mortgage
July 10, 2019
This flowchart explains the process and the way I can help. It has become considerably more involved than it ever was before. The left side shows the steps and the right side where I fit in. Thought it might be of interest to you....
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