All You Need to Know About Mortgage Protection Insurance

Mar 25, 2022 2:57:28 PM

Many New Zealanders worry about what would happen to the family home if they were unable to pay their mortgage due to illness, an accident or death. Mortgage protection insurance helps reduce this worry, by taking care of the mortgage repayments and other expenses for a short time in the event you’re unable to cover these costs due to injury or health reasons. If you’re considering adding a mortgage protection insurance policy to your existing insurance policy, read on to find out more.

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Topics: Insurance Advisers, Insurance, First Home Buyer

Preparing Your Finances to buy a First Home

Mar 11, 2022 11:51:52 AM

Saving a deposit is just one of the many hoops that first home buyers need to jump through when buying a first home. With recent changes to lending regulations, requiring borrowers provide more detail and evidence around income and expenses when applying for a home loan, it’s more important than ever to ensure your personal finances are in good order. So to help you get started, here are our tips for preparing your finances to buy a first home.

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Topics: Home Loan, Financial Health, First Home Buyer

What to Look for in an Investment Property

Mar 11, 2022 11:47:59 AM

Investing in property is a smart financial decision that can help you grow wealth and generate a passive income. But just like all investments, property investment can be risky too, which is why it’s so important to do detailed research before diving in. Whether you're just starting out investing in property or adding to an already significant property portfolio, here are some things to look for when buying an investment property.

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Topics: Property Investment, Financial Health

Dividing the Family Home in a Divorce

Feb 28, 2022 12:22:01 PM

Whether you’re married, in a civil union partnership, or a de facto relationship, when your relationship ends by divorce, separation, or death you are affected by the Property (Relationships) Act 1976 (the PRA). This act aims to provide a just division of the relationship property, including the family home and other jointly-owned property. Find out how the property of married couples, civil union couples and couples who have lived in a de-facto relationship is divided up in the case of divorce, separation or death.

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Topics: Mortgage Advisers, Financial Health, Home Loans

What to do if the bank says no…

Feb 28, 2022 10:06:55 AM

Stricter lending conditions have put the brakes on mortgage applications, with many more first home buyers struggling to meet the latest lender requirements. Along with tightened bank lending caps to low deposit borrowers, and a far greater scrutiny on expenditure, some lenders have introduced a minimum committed income for approvals over 80 per cent loan to value ratio (LVR), making it even harder to get home loan approval. Find out what it means for you if the bank declines your home loan application, and what the next steps are in this situation.

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Topics: Mortgage Advisers, First Home Buyer, Home Loans

The Benefits of Property Investment

Feb 17, 2022 10:44:49 AM

Property investment in New Zealand continues to be a hot topic, despite tighter loan to value restrictions aimed at investors, and stricter lending conditions that have been put in place to ease demand and slow house price rises. Savvy investors with a growing property portfolio stand to benefit from excellent capital gains and a sound investment for future wealth. However, there are some risks and it’s important to balance these with the benefits of property investment. Here’s a brief look at some of the benefits of property investment, as well as the risks.

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Topics: Mortgage Advisers, Property Investment, Home Loans

Top Tips for First Home Buyers Saving a Deposit

Feb 15, 2022 3:44:59 PM

Buying a first home starts with saving a deposit. But for most Kiwi first home buyers, already struggling with rising rents and food costs, setting good savings habits can feel like an impossible task. To help put first home buyers in the best possible position to buy a first home, we asked some of the Mortgage Express team to share their top tips for first home buyers saving a deposit.

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Topics: Mortgage Advisers, First Home Buyer, Home Loans

Navigating the New Lending Rules

Feb 2, 2022 9:43:16 AM

On December 1, 2021, the laws around lending money to consumers in New Zealand were changed. Under the new regulations, all lenders are required to follow robust processes to determine a borrower’s income and expenses, in an effort to ensure lending is both affordable and suitable. If you are considering borrowing money – whether a new loan or topping up - it’s important you know how these changes affect you and what to expect as a borrower.

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Topics: Mortgage Advisers, First Home Buyer, Home Loans

Non-Bank Lenders Offer Finance Options For Borrowers

Feb 2, 2022 9:39:53 AM

Recent changes to lending laws and tighter loan-to-value restrictions (LVR) have required banks to take a more conservative approach to approving finance. These changes are impacting borrowers who no longer meet banks’ lending criteria, with many now turning to non-bank lenders as a financing option. Unlike traditional banks, non-bank lenders are not subject to LVR and tend to offer greater flexibility around low deposit lending. For borrowers struggling to get bank finance approval, non-bank lending could provide a solution.

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Topics: Mortgage Advisers, Financial Health, Home Loans

5 Tips for Getting Financially Fit in 2022

Jan 21, 2022 5:19:00 PM

The start of a new year is a good opportunity to look at our finances with fresh eyes, and set goals for improving our financial wellbeing during the year ahead. Being financially fit means taking control of monthly financial obligations and day to day spending. Ensuring we have enough saved up to cover any unexpected financial emergencies. And making financial plans that enable us to do the things we enjoy. Here are 5 tips to help you get financially fit in 2022.

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Topics: Mortgage Advisers, Financial Health, Health and Wellbeing