When it comes to choosing a home loan, interest rate is not the only thing to consider. Loan features – like the ability to make extra repayments, a line of credit, an off-set account, or repayment holidays – are just as important. To help you understand what features you could be offered by your lender, we’ve outlined some of the more popular options.
Topics: Buying, LVR, Mortgage, new zealand real estate, First Home Buyer, Second Home, house sales, mortgage ready, property sales, mortgage stress, low equity margin, LEM, loan to value ratio
The 2017 New Zealand election may be out of the way but its impact is still being felt in the NZ property market. Uncertainty continues to weigh in with spring sales noticeably lower than previous years. Nationwide residential property values rose for September, although a much smaller increase was recorded in the Auckland region. Read on to find out how New Zealand’s property market is expected to perform, post-election.
Topics: Buying, LVR, Mortgage, new zealand real estate, First Home Buyer, Second Home, house sales, mortgage ready, property sales, mortgage stress, low equity margin, LEM, loan to value ratio
Changes to the Loan to Value Ratio (LVR) and an overall tightening up on low deposit lending has seen banks and lenders charge a number of additional fees to borrowers with less than a 20% deposit. One of these fees is a Low Equity Margin (LEM); a percentage added to your interest rate that remains there until your loan reduces to the 80% threshold. As a borrower, it’s important you’re clear on exactly how this fee is charged.
Topics: Buying, LVR, Mortgage, new zealand real estate, First Home Buyer, Second Home, house sales, mortgage ready, property sales, mortgage stress, low equity margin, LEM, loan to value ratio
Despite record low interest rates, more and more homeowners are struggling to meet their home loan repayments and are experiencing “mortgage stress”. Even the slightest increase in interest rates could leave these homeowners vulnerable and unable to repay their mortgage. Let’s take a look at what “mortgage stress” is and how you as a homeowner can deal with it.
Topics: Buying, Mortgage, new zealand real estate, First Home Buyer, Second Home, house sales, mortgage ready, property sales, mortgage stress
Finding the right home loan isn’t as easy as it sounds. With so many mortgages on offer – each with its own conditions, terms, features and rates – it can start to feel like you’re navigating a mine field. To help you avoid a potentially costly mistake, here are some of the mortgage traps you need to look out for when choosing the right home loan.
Topics: Buying, Mortgage, new zealand real estate, First Home Buyer, Second Home, house sales, mortgage ready, property sales, mortgage traps
It’s the latest buzzword in the property industry: Rentvesting. Renting where you want to live, buying where you can afford to. And it’s proving a popular option, particularly amongst younger first home buyers who are keen to invest in their future without foregoing their lifestyle. So, what are the benefits of rentvesting and is it for everyone? Read on to find out.
Topics: Buying, Mortgage, new zealand real estate, First Home Buyer, Second Home, family trust, house sales, mortgage ready, property sales, rentvesting
Buying a home today seems to be an insurmountable challenge. We’re constantly told that banks have cut lending, credit rules have tightened, and property prices have spiralled out of control. While these factors are indisputably true, there is still hope. If you’re a first home buyer looking to get into the property market, there are a few important steps you need to take in order to get mortgage ready.
Topics: Buying, Mortgage, new zealand real estate, First Home Buyer, Second Home, family trust, house sales, mortgage ready, property sales
