The Reserve Bank has cut the Official Cash Rate (OCR) for the first time in two years; down 25 basis points to 1.5 per cent, the lowest it’s ever been. Retail banks have been quick to pass on the rate cut: Good news for home owners and first home buyers.
Topics: Interest Rates, Lenders, nz mortgage, NZ Mortgage Adviser, Home Loan Advice, Mortgage Advice, Borrowing Advice, Borrowing Capacity
Before going house hunting, it makes good sense to know how much you can actually borrow from your lender. Your borrowing capacity is the amount that a lender will lend you to buy a property. Sounds simple but it’s not: there are all kinds of factors involved that determine the amount a lender comes up with, and your loan amount can vary from lender to lender. Read on to find out more about borrowing capacity.
Topics: Lenders, nz mortgage, NZ Mortgage Adviser, Home Loan Advice, Mortgage Advice, Borrowing Advice, Borrowing Capacity
If you’re struggling to save a deposit to buy a property, you may be wondering what your options are. Should you keep saving and potentially miss out on a bargain or optimal buying conditions in the market, or do you push ahead and apply for a mortgage with a small deposit? While it’s not easy securing a mortgage with a small deposit, it is certainly possible. Here are three ways to do this.
Topics: LMI, nz mortgage, NZ Mortgage Adviser, Low Deposit, Home Loan Advice, Low Doc Home Loan, Mortgage Advice
Recent data from REINZ shows a nationwide drop in house sales with all indications pointing to a buyer’s market. As the number of property listings at the end of March 2019 was up 14 per cent year on year in Auckland and down just 3 per cent year on year for the rest of NZ, the drop in house sales is not due to less houses coming onto the market. So, what do you do if your house isn’t selling?
Topics: Properties for sale, house sale, nz mortgage, for sale, NZ Mortgage Adviser, Home Loan Advice, Mortgage Advice
When it comes to buying property, money is the number one thing on most people’s minds! And understandably so, as it’s likely the biggest purchase you’ll ever make. While a lot of the information you can find online is about preparing a mortgage application, it’s just as important you feel confident about what you’re signing up for once your mortgage is approved. Here are some of the practical things to think about.
Topics: Lenders, nz mortgage, first home buyer, NZ Mortgage Adviser, Home Loan Advice, Mortgage Advice, First time homeowner, Home Loan Application, Borrowing Advice
When buying your first home, it’s easy to get swept up in a whirlwind of excitement and make mistakes that could end up costing you later on. Even if you’ve done your research and have a good understanding of the property market, there’s a lot to take in and to think about. Here are 5 first home buyer mistakes to avoid.
Topics: nz mortgage, first home buyer, NZ Mortgage Adviser, Home Loan Advice, Mortgage Advice, First time homeowner
For many young people, owning a home can seem like an unattainable goal. Paying off the mortgage and getting debt-free, even more impossible. But being mortgage-free needn’t be an impossible dream: If you’re serious about shaving off thousands of dollars of interest from your mortgage and paying your mortgage off faster, start with these 3 simple steps.
Topics: nz mortgage, NZ Mortgage Adviser, Home Loan Advice, Debt-free, Mortgage-free, Mortgage Advice
The heated mortgage battle amongst home loan providers could get even more interesting, as economists now believe the Official Cash Rate could be cut as soon as May or August 2019, and interest rates could start to fall in August this year. This follows comments made by the Reserve Bank of New Zealand at the end of March 2019. A home loan review could help you decide whether refinancing is the right option for you.
Topics: Interest Rates, nz mortgage, NZ Mortgage Adviser, Home Loan Advice, Mortgage Terms, Mortgage Advice, First time homeowner
If a bad credit rating is making it hard for you to get a home loan, it doesn’t mean you need to shelve your home ownership dreams. Credit history can be affected by several factors including missing payments and late payments. Take a look at these five tips to help you get on top of the credit issues that could be impacting your home loan application.
Topics: Credit Check, credit score, Bad Credit Home LOan, Bad credit, NZ Mortgage Adviser, Home Loan Advice, Low Doc Home Loan
If you need to free up a little cash as you head into retirement, a reverse mortgage could be the solution. A reverse mortgage lets you mortgage your property so you can access your equity with no repayments required until you move out. For many retirees, a reverse mortgage offers financial security to cover those unexpected expenses – like home repairs or major surgery – without having to sell the family home. Read on to find out more about a reverse mortgage.
Topics: Retirement, Home Equity Loans, reverse mortgage, NZ Mortgage Adviser, Home Loan Advice
