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

Insurance mistakes you could be making

Sep 14, 2016 6:53:46 AM

Most people are pretty savvy when it comes to ensuring their valuable possessions, like a car, house or boat, because not insuring them means taking a sizeable financial risk. In fact, around 95 per cent of New Zealanders are covered against loss due to disaster, accident or theft. But when it comes to life insurance, many have little or no insurance cover. Are you covered? Here are seven insurance mistakes you could already be making.

 


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Topics: Insurance Advisers, Finance Update, Insurance, NZ Finance

How to take control of your mortgage

Aug 16, 2016 10:50:11 AM

If you’re taking out your first mortgage, you probably just want to get the paperwork done and dusted so you can move into your first home. That often means accepting the first mortgage package you manage to secure. By being actively involved in the mortgage process and taking the time to understand the finer details and compare offers, you can shave years off your mortgage repayments and save thousands of dollars. Here’s how you can take control of your mortgage.


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Topics: NZ Finance