Some homeowners don’t give much thought to their mortgage once it’s been approved. Aside from making regular repayments and checking the bank statement every month, they simply adopt a “set and forget” attitude when it comes to their home loan. However, a regular review of the home loan and financial situation could uncover opportunities to pay back the mortgage much sooner. And knowing when to refinance or refix is an important part of that process.

With New Zealand’s borders open once again to Kiwis from all over the world without the need for MIQ, it’s likely many will be returning to our shores to buy a home or investment property. Over the last two years, the COVID-19 pandemic has had a significant impact on New Zealand’s property market, with rising house prices, stricter lending requirements, and LVR’s (loan to value restrictions) just a few of the challenges facing returning Kiwis. Here are two things to think about when applying for a mortgage as a returning Kiwi.

Many first home buyers are left feeling mystified and confused by the amount of home loan jargon they’re expected to understand when buying a first home. The sheer amount of information can feel overwhelming, and many are left wondering what it all means. To help simplify things for first home buyers, we’ve unpacked some of the more common – and often most confusing – home loan terms and provided a basic explanation of each.

When it comes to credit scores, the general rule is the better your credit score, the better your chances of success with credit applications. That’s why it’s so important to regularly track your credit score and fix anything that could negatively impact it – such as late payments, defaults, or errors on your credit report. And if you do find yourself with a poor credit score, there are ways to fix it. Here are five simple steps to follow.

Following an announcement by Consumer Affairs Minister David Clark earlier in March 2022, lending restrictions, which were introduced in December 2021 under the CCCFA, will be changing. In response to feedback from the sector, consumers and mortgage advisers, a number of changes will be introduced to ease the controversial lending rules that have impacted creditworthy borrowers and first home buyers in particular. The announcement has received support from lenders and advisers.

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.

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.

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.

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.