First home buyers in New Zealand face more challenges than ever when it comes to buying a first home. House prices remain largely unaffordable for many, while higher interest rates and the high cost of living further impacts housing affordability, leaving many first home buyers with a much smaller budget. If you’re considering applying for a mortgage in 2023, here are some insights that could help you get home loan ready in the new year.

Like much of the world, New Zealanders are facing a sharp rise in the cost of living, with already overstretched household budgets being pushed even further by mortgage interest rate rises. Those homeowners who entered the property market at the peak of the property boom with record low interest rates, may already be feeling the pinch as interest rates continue to rise. Here’s what to do if you are unable to repay your mortgage.

KiwiSaver is an important source of finance for those who intend to use their KiwiSaver savings towards buying a first home. Thousands of Kiwis are using their KiwiSaver funds for their first home. If you’re a first home buyer considering KiwiSaver Withdrawal, here are four things to consider when wanting to use your KiwiSaver savings towards your first home deposit.

Homeowners in New Zealand are being warned to prepare for more interest rate shocks, as the Reserve Bank of New Zealand lifts the OCR to get the high cost of living under control, and lenders follow with interest rate hikes. For borrowers who are concerned about the prospect of higher mortgage repayments, splitting their home loan could help spread their risk. Here are some guidelines on what to consider when deciding how best to split your mortgage.

Mortgage advisers account for close to half of all mortgages written in New Zealand, and it’s not hard to see why. With benefits that include time and money saving, more choice of home loan products, and ongoing guidance even after home loan approval is secured, working with a mortgage adviser can help alleviate a significant amount of stress for borrowers. Read on to find out 10 good reasons to use a mortgage adviser.

As first home buyers, it can be difficult to understand the different types of home loans (mortgages) and how they work, never mind deciding which type of home loan is right for you! Some home loans are best for borrowers looking for flexibility, others are more suited to those requiring certainty. In this home loan basics for first home buyers’ guide, we’ll take a look at six types of home loans available in New Zealand, and outline some of the pros and cons of each.

Deciding whether to fix, float or use a combination of mortgage strategies is a tough decision to make, especially in a fluctuating interest rate environment. But ultimately, it will depend on your financial situation and where you see interest rates landing over the next few years. While there are some advantages to each of these mortgage strategies, there are disadvantages too. Here are some things to consider when choosing a mortgage strategy that’s right for you.

When you’re shopping around for a mortgage, it makes sense to work with someone who understands the industry and market conditions. A mortgage adviser is that person; someone who acts an intermediary between you and the lender working on your behalf. In your search for the right mortgage adviser, we recommend you ask these 3 questions.

Having a pre-approval in place before you start house hunting has a number of benefits: As well as showing sellers and agents you’re serious about buying, it helps speed up the process when you find a home you like, which puts you in a far better negotiating position. If you are considering applying for pre-approval, take a look at our tips for a successful pre-approval application.

The end of a relationship is understandably an emotional and traumatic time, and the process of separating your lives, property and finances can be challenging. As your income and expenses are likely to change at this time, it’s important you understand the impact of these changes on your most important asset: your family home.