In the busyness of daily life, it's easy to adopt a "set and forget" mentality when it comes to finances. And that includes the mortgage, often fading into the background once it’s in place, ignored for the duration of the loan term. But did you know that regularly reviewing your home loan can unlock a wealth of benefits? From saving money to shortening your loan term to accessing your equity, a mortgage review is an essential part of home ownership.
Topics: Home Loan, Refinancing, Mortgage Advice
Maintaining your home may seem overwhelming, but it doesn't have to be. Keeping on top of the smaller tasks helps ensure your home is well-prepared to handle the changing weather and prevent expensive repairs in the future. From safeguarding against chilly drafts to preventing potential hazards, prioritising these autumn home maintenance tips will ensure your home remains safe, comfortable, and cosy throughout the cooler months.
Topics: Home Maintenance, Refinancing, Home Renovations, Mortgage Advice
The start of a new year is the perfect time to assess your financial health and set realistic goals for a financially successful year ahead. Whether you’re a first home buyer, a seasoned homeowner, or just looking to make the most of your financial situation, a proactive and informed approach is the key to achieving financial success. Read on as we share three essential steps to help you reach your financial goals in 2024.
Topics: Kiwisaver, Financial Health, Refinancing, Budgeting
Mortgage refinancing is a strategic financial decision that can have a significant impact on a homeowner’s overall financial health. An understanding of when and how – as well as how often – to refinance the mortgage can lead to substantial savings and improved financial flexibility. Read on to find out why homeowners choose to refinance the mortgage and how often, how the refinancing process works, along with the pros and cons of mortgage refinancing in New Zealand.
Topics: Debt Consolidation, Refinancing, Financial Advice
As Kiwis struggle with the rising cost of living, higher interest rates and recent weather events that caused significant damage to homes in certain regions, many more homeowners and first home buyers are turning to mortgage advisers for financial advice. With fixed rate mortgages at a record high, and close to half of those due to expire in 2023, there’s never been a better time to talk to a mortgage adviser about refixing or refinancing options to fit the budget.
Topics: Mortgage Advisers, Refinancing, Financial Advice, refixing
Like much of the world, New Zealanders are facing a sharp rise in the cost of living, with already overstretched household budgets being pushed even further by mortgage interest rate rises. Those homeowners who entered the property market at the peak of the property boom with record low interest rates, may already be feeling the pinch as interest rates continue to rise. Here’s what to do if you are unable to repay your mortgage.
Topics: Financial Health, mortgage adviser, Refinancing
Falling house prices in some parts of New Zealand combined with rising interest rates could see some homeowners in a position of negative equity. As the higher cost of living stretches household budgets further, just how concerned should you be about negative equity? For the answer to this question and others, read on to find out what negative equity is and how it could impact some homeowners in New Zealand.
Topics: Financial Health, Refinancing, Negative Equity
Family, food, and festivities is what Christmas is all about. Unfortunately, Christmas can also be a time of stress, juggling extra expenses and a further strain on the budget. And often, once the holiday is over, the reality of overspending sets in. If you’re applying for a mortgage – whether to buy a first home or to refinance – it’s important you keep a tight rein on spending. Avoid blowing out the budget and jeopardising your borrowing power with these 3 tips for managing Christmas spending.
Topics: First Home Buyer, saving tips, Refinancing
Rising interest rates are bad news for first home buyers and borrowers alike, with new homeowners (those who bought homes in the last 18 months) facing much higher mortgage repayments for the first time. With the Reserve Bank of New Zealand signalling further interest rate hikes are on the horizon, how can homeowners avoid placing strain on already tight budgets and stay on top of bigger mortgage repayments? Here are some options.
Topics: Mortgage Advisers, Interest Rates, Refinancing
In the first quarter of 2022, house prices across New Zealand experienced the biggest drop in more than a decade. After several years of steep house price rises, this comes as good news for prospective homeowners locked out of the property market. But with rising interest rates, tougher lending conditions, and a higher cost of living continuing to impact housing affordability, even the 10 percent drop predicted by economists is unlikely to have a significant impact on first home buyers.
Topics: Mortgage Advisers, Refinancing, refixing
