In New Zealand, banks do the majority of lending for mortgages and are often the first point of contact for borrowers. But they’re not the only choice. For home buyers and property investors who may be struggling to fit banks’ strict lending criteria or loan to value restrictions, non-bank lenders – or second tier lenders – are sometimes an option, providing competitive interest rates, fees and mortgage features outside the mainstream banks.

For some first home buyers, getting onto the property ladder could be a little easier, after Government announced in Budget 2022 changes to the First Home Loan and First Home Grant. Along with updates to house price caps, other changes included support for solo first home buyers as well as a 6-monthly review of house price and income caps, ensuring these remain up to date and reflective of market changes. Here’s an overview of the changes along with helpful information for eligible first home buyers.

There’s a lot you can do to chip away at your home loan, beyond just making regular repayments. While working towards being mortgage-free usually means making some sacrifices – like cutting back on spending, or paying more of your income into your home loan – there are a few quick wins that aren’t quite as painful but are just as effective. Here are 5 ways to save on your home loan.

In New Zealand, redraw and offset facilities are fast becoming more popular home loan features for good reason. While mortgage interest rates are an important factor when it comes to choosing the right home loan, extra features – like a redraw or offset facility – play a big part too. These two home loan features allow you to use any extra funds you pay into your home loan while reducing the amount of interest you pay. And for diligent savers, that means significant savings. Here’s more about each of these features.

Most homeowners tend to set their home loan structure and then forget about it. They fix their rates for a set period of time and take comfort in knowing how much to budget for their mortgage each month. However, interest rates change, and while it may seem easier to simply set and forget, in the long-run it could be costing you several thousands of dollars more in interest charges, simply because you haven’t refinanced. Here are 3 instances when it pays to refinance your mortgage.

With interests rates at an all-time low, the cost of servicing a mortgage has never been lower. However, rising house prices mean deposit requirements have never been higher, and therein lies the big problem for many first home buyers. For those with parents or family members who may be able to help with a deposit for a first home, here are some of the options and the key things to look out for.

Mortgage Express branded mortgage advisers are often asked the question, “Is it better to work with a mortgage adviser or go direct to my bank?” And because we know your home is quite likely your single largest purchase – and certainly your biggest financial commitment – we believe that working with a mortgage adviser may provide you with options when it comes to finding the right home loan. Here are some of the benefits to using a mortgage adviser instead of going direct to your bank.

A new arrival in the family means some big changes ahead for your finances. In fact, a growing family is one of the top reasons people choose to buy a new home. During this challenging and often stressful time, it’s easy to forget some of the important things you should be considering when buying a home with a new baby on the way. Take a look at 3 things you should be thinking about.