The New Zealand property market is booming, despite economists’ doom-and-gloom predictions earlier this year. Historically low interest rates, the removal of loan-to-value restrictions, and more New Zealanders returning home from overseas because of COVID-19 has seen a growing number of first home buyers entering the market. If you’re considering applying for a mortgage at this time, here are some things you can do to prepare yourself.
Topics: Selling, Financial Health, COVID-19
COVID-19 has impacted not only the way we work, go to school or socialize; for many, it’s had a significant financial impact too. Job loss or reduced hours has meant more people have to rely on credit or even miss repayments on financial commitments due to financial strain. While your health and wellbeing are understandably top of mind right now, it’s just as important you keep your credit score in the best possible shape. Here’s why.
Topics: Financial Health, Health and Wellbeing, COVID-19
If you’re feeling an extra spring in your step, you’re not alone! Scientists tell us that the start of spring can radically improve your mood and that those longer, warmer, sunnier days – with a promise of summer – bring an extra bit of cheer, and a feeling of happiness and hopefulness to most of us. Not convinced? Take a look at these scientific reasons* why springtime brings a little bit of happiness.
Topics: Selling, Health and Wellbeing, COVID-19
Banks in New Zealand have already deferred mortgage repayments up to a staggering $21 billion dollars since New Zealand first went into lockdown in March 2020*. Now the Reserve Bank of New Zealand says it’s extending the mortgage deferral scheme up to March 31, 2021*. But it comes with a warning: Do your homework first. Read on to find out if a mortgage holiday is the right option for you.
Despite economists predicting a “doom and gloom” slump for New Zealand’s property market, house prices continue to rise in some areas, defying the odds and reconfirming real estate’s strength as a solid investment. For first home buyers looking to enter the market, now may be the best time, with record low interest rates, no loan-to-value restrictions (LVR) and regional fluctuations in house prices. As always though, it’s important you place yourself in the best possible position to move quickly on a deal. Here’s how to do that.
Topics: Selling, First Home Buyer, COVID-19
Topics: refixing, Mortgage Advice, mortgage review, Refinance, Financial Hardship, COVID-19, Mortgage Holiday
Topics: COVID-19, Working from home, Kids
In the current global situation, many people may be struggling to meet their financial obligations and experiencing financial hardship. Most New Zealand banks have a financial hardship policy available to assist customers who may be experiencing some form of financial hardship due to Covid-19.
Topics: refixing, Mortgage Advice, mortgage review, Refinance, Financial Hardship, COVID-19, Mortgage Holiday
In partnership with participating approved banks, Government has launched the Business Finance Guarantee Scheme which will support targeted new loans to eligible businesses. Small and medium-sized businesses affected by the economic impacts of Covid-19 may be able to access a financial support package launched to protect jobs and support the economy.
Topics: Business Finance, Small Business Finance, Mortgage Advice, Financial Hardship, COVID-19
