Mortgage Express

John Yelverton

niina.suhonen.mxnz — Mon, 14 May 2012 02:05:28 +0000

An experienced financier with over 25 years of banking experience working for a major NZ Bank. John understands the financial system, has a sound knowledge around credit processes and is passionate about helping people and businesses put deals together in order to achieve their goals.

John’s experience incorporates all facets of lending and included senior line lending roles and credit management across a broad range of businesses and sectors.

John remains actively involved in the finance industry through ownership and operation of Navco, a boutique consulting and credit business based in Epsom. This work involves dealing with a variety of individuals, business owners and corporate firms.

Whether you are a salary or wage earner, or self-employed, John has the experience and knowledge to help you achieve your goals.

“Save yourself time and money. Our service is typically at no cost to borrower and we do all the work. If you are in the market for a new mortgage, or wish to review all your finance arrangements, then don’t hesitate to call me for an obligation free chat.”

Changing Nature of Inner Auckland

niina.suhonen.mxnz — Thu, 10 May 2012 21:49:39 +0000

Back in the 1980s, inner city Auckland, outside working hours and before seven day trading, was pretty much a ghost town. People worked in the city but all lived outside it. In 1991 there were 1,200 people living in the CBD – now there is over ten times this number. We expect continued growth, particularly when the Wynyard Quarter is developed. Most of the people choosing to live in the city, tend to be younger, mobile and childless, but this likely to change. Older people, once their children have left home, are also starting look at this market. Inner city living is ideal for those that travel a lot, as it is much easier to lock up an apartment on the sixth floor and leave it, compared with a house in the suburbs. As a result apartments will become an increasingly important part of our overall housing stock.

Mortgage Rates May Go Lower

niina.suhonen.mxnz — Thu, 10 May 2012 21:47:27 +0000

Australia, last week, lowered its overnight cash rate and mortgage decreases followed. Our Reserve Bank has stated that our exchange rate is too high, our Government will not meet their fiscal targets, inflation is subdued and our unemployment is slowly rising. As we have stated previously, our Reserve Bank should decrease interest rates further, which would assist those with mortgages, as well as the export sector via a lower exchange rate. This is unlikely to ignite the housing market. A small portion of the market is active and appreciating, but this is confined to the inner Auckland suburbs. The rest of the country can only be described as stable. Christchurch is a bit of an exception. Let’s hope our Reserve Bank follows their Australian counterpart.

Australian Budget

niina.suhonen.mxnz — Thu, 10 May 2012 21:46:08 +0000

Last week the overnight cash rate in Australia was reduced from 4.25% to 3.75% because of the slowing economy. Mortgage rates have fallen as a result. Earlier this week Australia released their Budget which gave some benefits to the average Australian. The Treasurer said he was passing on some of the gains from the mining boom. Company superannuation contributions were increased to 12% and there are tax decreases for incomes up to $80,000. Our Budget will be presented later this month – it is unlikely to pass on any benefits to the average consumer. What we need here is some radical economic reforms just to keep up with Australia. A relatively positive Budget across the Tasman and a negative one here will do nothing to stop those Kiwis from moving across the ditch.

The Reserve Bank left the OCR unchanged at 2.5 percent

niina.suhonen.mxnz — Thu, 26 Apr 2012 02:07:00 +0000

The Reserve Bank today (26 April 2012) left the Official Cash Rate (OCR) unchanged at 2.5 percent.

Reserve Bank Governor Alan Bollard said: “Inflation is restrained and is expected to stay near the middle of the Bank’s target range.

“The domestic economy is showing signs of recovery. Housing market activity continues to increase and a recovery in building activity appears to be underway, as forecast. That recovery will strengthen as repairs and reconstruction in Canterbury pick up later in the year.

“However, the global outlook remains of concern. Near-term indicators have moderated and financial market sentiment is still fragile.

“The New Zealand dollar has stayed elevated despite recent falls in commodity prices. Should the exchange rate remain strong without anything else changing, the Bank would need to reassess the outlook for monetary policy settings.

“For now, it is appropriate for the OCR to remain at 2.5 percent.”

Bank Will Not Approve Your Loan?

niina.suhonen.mxnz — Mon, 16 Apr 2012 21:23:35 +0000

There are still a number of borrowers who would like to purchase a property, and who may have a reasonable deposit, but to whom the main stream lenders are saying no. The reasons are often due to credit issues or difficulty in substantiating income levels. A solution is to come to us and we can provide bridging finance for a year or two, to enable the borrowers to tidy up their financial affairs and prior to refinancing on to a main stream lender. This is a good solution, as it enables the borrower to purchase the property they want to now, and to get on with their lives.

Good Time for Home Buyers

niina.suhonen.mxnz — Mon, 16 Apr 2012 21:22:11 +0000

Interest rates are at lows not seen since the early 1970s. Rents, particularly in the major cities, are high and are continuing to rise. In many cases, it costs now roughly the same to own a property as it does to rent it. If your income is relatively secure, this is now the time to consider owning your own property. Mortgage rates are low, but if you are worried about them rising and making it harder to meet your repayments, it is now easy to fix them and protect yourself. Many renters complain about the quality of their accommodation. By owning, you can steadily improve your property and this may be reflected, over time, in an increase to the capital values.

Mortgage Express stakes its claim in Taupo

niina.suhonen.mxnz — Tue, 10 Apr 2012 22:24:11 +0000

Mortgage Express sets its roots in Taupo, with the appointment of Lea Martindale as mortgage broker and insurance advisor last week.

With a working career of over 30 years in the financial industry, including experience in specialist positions within major trading banks and as an independent broker, Lea has a breadth of knowledge.

Lea’s previous experience will be instrumental in developing client/advisor relationships, says Tony Hay, business owner of Harcourts Taupo Realty Services, “Having a very experienced person on hand to which customers have immediate access when making a property decision will be hugely beneficial.”

“Lea is passionate about customer service, a quality which will be key in building client relationships and promoting the Harcourts and Mortgage Express brand within Taupo,” says Mr Hays.

Lea says it is all about the client, providing a service and educating them on the options that are out there says Lea Martindale, “My role is to enable clients to achieve part of the ‘kiwi dream’ and provide them with access to owning their very first home.”

“Put simply, I love the connection of people, no two are the same and neither are their circumstances or designs on the future. It’s really rewarding to have a connection and valued relationship, where you can deliver on some ones hopes and dreams,” says Lea who is relishing being back in Taupo.

Now permanently in Taupo after having mobile roles covering the greater Waikato and Bay of Plenty which saw her based out of Hamilton, Lea looks forward to contributing to the community both professionally and personally.

Mortgage Express has brokers situated throughout the country however, Lea is to be the first Mortgage Express broker based within the Taupo region. “It is fantastic to have someone on board who is dedicated to the Taupo region and who knows the local market” says Harcourts Taupo Business Owner, Tony Hay.

Lea Martindale

niina.suhonen.mxnz — Mon, 02 Apr 2012 02:40:41 +0000

With a career spanning many years covering all sectors of Financial Services, Lea has had the privilege of forming long standing client/advisor relationships whilst holding specialist positions, particularly in the banking sector and outside of this as a broker.

“I’m not unlike you, we all seek service where we feel as though we are being listened to, an explanation is given that we understand and solutions are in our best interest. There is follow through and a relationship, choices provided and confidence, in the service we desire. Fundamentality it’s a matter of mutual respect and trust.”

“Having access to a panel of lenders and insurers means you have the opportunity of the wider market of financial services. I’m your one stop shop to a degree but offering so much more. Bottom line is, this is all about you in partnership working together.”

Now permanently back in Taupo after having mobile roles covering the greater Waikato and Bay of Plenty which saw her based out of Hamilton, Lea looks forward to contributing to the community both professionally and personally.

“The owning of property is in our DNA as is the safeguarding of assets and loved ones for the future. Let’s meet soon; I’m on call for you!”

Commercial Funding In Today’s Market

niina.suhonen.mxnz — Mon, 02 Apr 2012 01:40:48 +0000

With two months of 2012 already passed we take the opportunity to reflect on the previous year and confirm the positive outlook we have for 2012.

During the first half of 2011 whilst lenders had liquidity they approached business and commercial lending with caution. This had a direct effect on the ability of businesses to expand or capitalise on new opportunities. This coupled with the flow on effect of the Christchurch earthquake certainly created an air of caution and nervousness for both borrowers and lenders.

The Christchurch earthquake had a nationwide effect on people’s appetite to consider new debt for business expansion and/or acquisition. We noted a significant decline in enquiry level within two weeks of the February 2011 earthquake and this continued for the majority of the year with the level increasing in the last 60 days of the year.

Over recent months we have seen an increase in people looking for funding. It is interesting to note particularly over the last 90 days, that we have noticed a significant increase in buyer activity in the accommodation sector. A combination of freeholds, leaseholds and management rights changing hands. Whilst the market has been particularly challenging for businesses in this sector, all properties/businesses where we have sourced funding for our clients have displayed a sound profitable historical trading history in what has been a challenging market.

It is our view that the interest rate market will remain stable for the balance of this year and whilst there are future rate increases predicted we would see these as a gradual process as demand increases. Like all, we feel the rebuild in Christchurch will obviously have a roll over effect to a lot of other business sectors throughout the country. The one area continuing to see challenges is that of sourcing development funding and we continue to stress to clients that it is essential to ensure all facets of a development project’s funding application are fully covered.

What we have noticed particularly in the trading bank sector is that if your bank declines your lending request it does not mean your proposal isn’t soundly based. We have a saying that all banks are not equal as whilst they may have similar lending guidelines they do have differing views on different industry sectors. So where one bank is not comfortable they may well decline your application despite your excellent track record and long banking history with them. A bank is a supplier to your business no matter what sector your business activity operates in and I am sure if one of your suppliers was not performing and affecting your business’s ability to earn a profit you would look for a new supplier that allowed you to go forward and capitalise on opportunities.

Some examples of recent bank funding sourced for clients where their own bank would not assist or the terms and conditions of assistance were unsatisfactory to the client.

- Restructure of a significant management rights operation which covered land, building and business entity – total funding requirement $2.million.

- $1.7 million refinance of a high value waterfront property which included interest servicing provision pending its future sell down.

- $600,000 for owner occupier to purchase own building where the borrower had limited historical servicing evidence.

- $700,000 for a preschool business which was in a growth phase however historic trading was not sufficient to support the debt servicing.

Outside the trading bank sector it is fair to say that following the demise of so many finance companies there is not the diversity of funding options available particularly for those seeking funding to start a new business or acquire an existing business. This also applies to the property sector requiring us all to be far more resourceful in obtaining that necessary funding. Certainly, professional assistance in preparing funding applications is a critical factor together with ensuring all aspects are reviewed from all angles.

We are also encouraged that new lenders are starting to appear particularly for business stock and working capital requirements. The interesting and pleasing factor of these new lenders is their general lending policy which sees security limited to the business being funded excluding the borrowers residence as collateral.

For more information: Telephone: 09 360 5252

Mobile: 0274 923 539

Email: alan@stratafunding.co.nz

Web: www.stratafunding.co.nz