Retiring with mortgage debt

Mar 19, 2018 12:00:00 AM

An alarming number of New Zealanders will retire with mortgage debt, says credit rating business Credit Simple, indicating that a financially secure retirement is out of reach for many Kiwis. But it needn’t be. Planning ahead today goes a long way towards securing your retirement income stream tomorrow.

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Topics: Retirement, Mortgages, NZ Finance, Home Loan, NZ Property, reverse mortgage, NZ Property Market, Mortgage Debt

Is a reverse mortgage an option?

Mar 15, 2018 11:04:52 AM

Many retirees depend entirely on their NZ Superannuation for their income during retirement. As a result, money can be tight, and any unexpected expenses can leave a sizeable hole in the budget. That’s where a reverse mortgage may be an option. A reverse mortgage could free up some much-needed cash when times are tough, but it’s important you understand the pros and cons of this type of lending.

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Topics: Mortgages, NZ Finance, Home Loan, NZ Property, reverse mortgage, NZ Property Market

What is LMI and do I have to pay it?

Jun 16, 2017 6:00:00 AM

As a first home buyer, you’ve no doubt got questions about the home buying process. How much deposit you need. What the lending criteria are. Using your KiwiSaver or the HomeStart Grant. There’s an awful lot of information to process and it’s understandable you might even feel a little overwhelmed. To help you navigate buying your first home, we’re outlining one of the costs you need to factor in when applying for a high LVR loan: Lenders’ Mortgage Insurance.

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Topics: NZ Finance, NZ Property, nz mortgage

Interest only mortgages: the pros and cons 

Jun 14, 2017 1:00:43 PM

When it comes to home loans, there are plenty of options to choose from. Knowing which one suits your circumstances best is often the challenge. In a short-term situation, an interest only loan could be the financial boost you need to buy an investment property or to do those home renovations while keeping your repayments as low as possible. Is this type of lending viable? Let’s take a closer look at the pros and cons of an interest only mortgage.

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Topics: NZ Finance, NZ Property, nz mortgage

Maintaining your rental property makes good financial sense

May 22, 2017 10:29:38 AM

Every five years since 1994, research group BRANZ has undertaken a “House Condition Survey” that includes an onsite assessment of the overall condition of around 550 owner-occupied and rental homes around New Zealand. Not surprisingly, the results revealed that the condition of owner occupied homes is still well above that of rental properties. Read on to find out what your obligations as a landlord are when it comes to maintaining a rental property.

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Topics: Finance, NZ Finance, NZ Property, Financial Health

How financially secure are you?

May 22, 2017 10:24:09 AM

In 2016, Westpac undertook the “Money Week Survey” which highlighted a number of concerns around many New Zealander’s approach to finance. According to the survey results, only one in three Kiwis felt financially secure and five out of six were experiencing financial stress. To help get you onto the path to feeling financially secure, we’ve outlined some of the steps you could take right now.

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Topics: Finance, NZ Finance, Financial Health

Should you use your KiwiSaver to fund your first home?

Apr 12, 2017 6:16:31 AM

If you’re like most first home buyers, you already know that saving a deposit is probably the hardest part of buying your first home. Just when you think you’ve got enough of a deposit, house prices increase and you’re back to saving again. That’s why using your KiwiSaver to buy your first home may make good financial sense. To help you consider whether it might be right for you, let’s run some numbers.

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Topics: Kiwisaver, First Home, NZ Finance

A glimmer of hope as house prices dip slightly

Mar 17, 2017 7:57:23 AM



Houses prices across the country remained flat in February, with weaker prices in Auckland offsetting a rise in house prices across Otago and in Northland. We take a closer look at housing market data from February 2017, to determine whether this is the start of a much-needed correction in the housing market.

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Topics: Mortgage Advisers, Buy a Home, NZ Finance

Think ahead when buying your home

Feb 27, 2017 11:58:20 AM

While New Zealand’s interest rate is as low as it’s ever been, many home buyers have been tempted into spending more. But, as Finance Minister Steven Joyce warns, it’s vital that buyers think ahead when buying property, and take into consideration whether their mortgage debt will still be affordable in three or four years’ time if rates were to rise. Read on to find out more.

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Topics: Buy a Home, Mortgages, NZ Finance

Lenders tighten up following changes to LVR

Oct 12, 2016 10:00:04 AM

A number of banks are tightening up on lending in the wake of a cooling property market, with lenders more reluctant now than ever to do bridging finance. And could those holiday snaps actually make your insurance more expensive? Find out more in this month’s finance article.

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Topics: Finance Update, Mortgages, NZ Finance, Bridging Finance