It’s not uncommon for couples to contribute different amounts when buying their first family home. Under New Zealand law, once a couple has been living together for three years or more, they are subject to the Property (Relationships) Act, which states that assets are shared equally regardless of how much each person initially contributed. A “pre-nup”– or a Contracting Out Agreement – is a way to preserve respective contributions in the event of a separation or divorce.
Topics: Buying, NZ Finance, NZ Mortgage Adviser, Home Loan Advice, Contracting Out Agreement, Pre-nuptial
Recent changes to KiwiBuild could help more first home buyers into the property market. Early in September 2019, Government announced a reset of the affordable housing policy including a drop in the deposit requirements for Welcome Home Loans, progressive home ownership schemes, and the removal of the earnings limit so multiple buyers could be eligible for combined HomeStart Grants.
Topics: First Home, NZ Finance, First Home Buyer, NZ Mortgage Adviser, Low Deposit, Home Loan Advice
Whether you’re buying or selling, determining the value of a property is an important step in the process. A property valuation – an assessment of a property’s market worth – can help you set a realistic sale price when you’re selling and be a valuable tool when it comes to negotiating a purchase price when you’re buying. Here is a guideline to understanding property valuations.
Topics: NZ Finance, property value, Home Loan Advice, Property Valuation
If you’re feeling weighed down by the amount of debt you have and the number of repayments you’re trying to manage each month, debt consolidation could be the answer. Debt consolidation rolls multiple high-interest debts into a single payment which could help reduce your total debt over time and ensure you pay it off faster. Not convinced? Here are 5 ways consolidating your debt makes financial sense.
Topics: Credit Card Debt, Debt Consolidation, Finance Update, NZ Finance, Credit Check, Home Loan Advice, Debt-free
Buying a first home is a big decision; quite possibly, the biggest one you’ll ever make. Which is why it pays to understand exactly what you’re getting yourself into. To ensure you’re armed with the right information so you can make good decisions about your financial future, here is a step by step guide to buying your first home.
Topics: NZ Finance, NZ Mortgage Adviser, Home Loan Advice
Understanding how lenders assess lending criteria could help improve your chances of success when it comes to a home loan application. Your borrowing power and borrowing capacity will depend on your income, family size, current debts and the type of loan you’re applying for. But did you know that there are a few simple steps you can take to improve your borrowing power? Take a look at what these are.
Topics: Credit Card Debt, Debt Consolidation, Finance Update, NZ Finance, Credit Check, Home Loan Advice, Debt-free
Over the past few years, we’ve seen some significant changes to the way we pay for things. As well as using our phones for payment, tapping our cards instead of swiping them, and having the ability to transfer money instantly online, the arrival of part-payment systems like Afterpay are changing how we shop. Here’s what you need to know about Afterpay.
Topics: Finance Update, Financial Decision, NZ Finance, Home Loan Advice, AfterPay, Part Payment, Payment
As technology evolves so too do our digital lives, sometimes to the point where we can start to feel bogged down by the plethora of time-saving tools and life-changing apps. When it comes to improving productivity, most of us could use a little help. Take a look at these 3 tech hacks that are guaranteed to improve productivity in your digital life.
Topics: Mortgages, NZ Finance, Tech Hacks, Life Hacks, Cost effective, Productivity, Efficient
While interest only mortgages have come under intense scrutiny across the Tasman over the last year (2017), this type of lending can offer a viable solution for property investors looking to grow their portfolio. Read on to find out more about interest only loans, along with the benefits and risks.
Topics: Interest Rates, Mortgages, NZ Finance, mortgage rates, Variable versus Fixed, Variable Interest Rate, Fixed Interest Rate, interest only loans
Deciding between a fixed and a variable interest rate, or a combination of both, is largely a personal choice. Do you need the certainty of set monthly repayments or are you looking for a little more flexibility and a saving when interest rates drop? Each option has its own set of pros and cons. Read on to find out what these are.
Topics: Interest Rates, Mortgages, NZ Finance, mortgage rates, Variable versus Fixed, Variable Interest Rate, Fixed Interest Rate
