When it comes to applying for a home loan, not everyone ticks the boxes with a lengthy permanent employment, more than 20 per cent deposit, and an impeccable credit history. But that doesn’t mean you have to miss out. Fortunately there are a range of lenders who will still consider applications even if you’re not the ideal borrower. Read on to find out what to do if the bank says no.
Topics: Home Loan, First Home Buyer, Home Loan Advice, Mortgage Advice, Home Loan Application
New Zealand is one of the least insured nations in the developed world according to research by the Financial Services Council, with many Kiwis relying on a “she’ll be right” attitude when things do go wrong. The reality is that tragedy can affect anyone at any time and being unable to work for a period of time has a significant financial impact on you and your family. If you’ve been putting off getting insured, now’s a good time to remedy that.
Topics: Home Loan, nz mortgage, NZ Mortgage Adviser, Home Loan Advice, Mortgage Advice, Mortgage Protection Insurance, Home Loan Insurance, Life Insurance
From 01 July 2019, ceiling and underfloor insulation is compulsory in all New Zealand rental properties, where suitable. In addition to this, landlords have just over two years to ensure rental properties meet the Government's healthy homes standards, the minimum requirements for heating, insulation, ventilation, moisture and drainage, and draught stopping in rental properties. Here’s what you need to know about insulation requirements and healthy homes standards.
Topics: Property Management, Kiwisaver, Rental Market, Home Loan, nz mortgage, NZ Mortgage Adviser, NZ Property Manager
There are some changes being made to KiwiSaver in 2019 and 2020, most of which have already come into effect. The proposed changes to the structure of KiwiSaver could see a greater number of New Zealander’s saving for retirement and the risk of a retirement savings shortfall decreasing over time. These changes will allow more people to join the scheme and also allow members to better tailor their KiwiSaver account to fit their needs.
Topics: Kiwisaver, Home Loan, nz mortgage, NZ Mortgage Adviser, Home Loan Advice, Mortgage Advice, Kiwisaver withdrawal
Have you ever considered what would happen if you were unable to work? How long could you continue to pay your mortgage for before your savings run out? Mortgage and Income Protection Insurance could be the solution you need. It’s an insurance designed to meet your mortgage repayments when you can’t. Read on to find out more.
Topics: Mortgages, Home Loan, Mortgage, nz mortgage, NZ Mortgage Adviser, Home Loan Protection Plan
Earlier this year (2018), the Reserve Bank of New Zealand increased the cap from 10 to 15 per cent for banks’ lending to home buyers with a deposit of less than 20 per cent. How has this change impacted first home buyers? And what should you be doing to improve your chances of a low deposit home loan? Read on to find out.
Topics: Mortgages, Home Loan, Bad credit, NZ Mortgage Adviser, Low Deposit
Older home buyers entering the market for the first time appear to be growing in numbers in Australia and New Zealand, as a combination of rising rents and low interest rates makes buying property a more attractive proposition. But, how big a factor is age when it comes to lenders determining your lending ability? Read on to find out.
Topics: Retirement, Mortgages, NZ Finance, Home Loan, reverse mortgage, Mortgage Debt
Timing is often a challenge when it comes to buying a new home and selling an existing one. In a perfect world, both transactions would happen simultaneously. In reality though, you could end up owning two properties while you sell your existing home. That’s where bridging finance comes in.
Topics: Retirement, Mortgages, NZ Finance, Bridging Finance, Home Loan, reverse mortgage, Mortgage Debt
An alarming number of New Zealanders will retire with mortgage debt, says credit rating business Credit Simple, indicating that a financially secure retirement is out of reach for many Kiwis. But it needn’t be. Planning ahead today goes a long way towards securing your retirement income stream tomorrow.
Topics: Retirement, Mortgages, NZ Finance, Home Loan, reverse mortgage, Mortgage Debt
Many retirees depend entirely on their NZ Superannuation for their income during retirement. As a result, money can be tight, and any unexpected expenses can leave a sizeable hole in the budget. That’s where a reverse mortgage may be an option. A reverse mortgage could free up some much-needed cash when times are tough, but it’s important you understand the pros and cons of this type of lending.
Topics: Mortgages, NZ Finance, Home Loan, reverse mortgage
