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My Money October Newsletter

October 8, 2021
This week the Reserve Bank has lifted the Official Cash Rate(OCR)to 0.50 per cent. This was expected, and as they were poised to do back in August before the Level 4 lockdown was announced.Madison Reidy from Newshub called up and wanted an interviewon the impact of the chang...
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When is a good time to start teaching children about money? The answer is as early as you can. Research shows that kids as young as three can grasp basic money concepts! This week Stephen from My Money had the privilege of talking to a local school about money to help build ...
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A short clip from the news this week with our own Stephen Robertson. On the topic of the "Mortgage Holiday Scheme" coming to an end, If you find yourself struggling, don't do it alone. There are tools to help. Tony from Money Trainer is a money coach who I highly recommend....
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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...
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Deposit saving ideas

February 10, 2021
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...
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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 ...
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In keeping up to date with developments across the finance industry, the Reserve Bank has announced they have decided to remove mortgage loan-to-value ratio (LVR) restrictions for 12 months. The Reserve Bank’s decision was made in line with its financial stability man...
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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...
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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...
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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...
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