The Pros and Cons of a Reverse Mortgage

Jun 27, 2022 2:15:06 PM

While reverse mortgages have traditionally been seen as a little unconventional, it’s not surprising that New Zealand’s major lenders of reverse mortgages have seen a sharp rise in new approvals. Rising house prices and a higher cost of living have forced some homeowners approaching retirement to re-evaluate their financial position, and consider a reverse mortgage as a means to a financially comfortable retirement. To help you decide, here are the pros and cons of a reverse mortgage.

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Topics: Retirement, Mortgage Advisers, reverse mortgage

Managing Property Investment into Retirement

Jun 3, 2021 9:50:55 AM

Nearing retirement age often leads to a mindshift in our view of property investment. The closer we get, the less appetite for risk we typically have, and the more cautious we become about ensuring our retirement savings go the distance. So, what are the main risks retirees need to consider when reassessing their property investment strategy? And what could they do to minimize risk and ensure they plan ahead for longevity?

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Topics: Selling, Retirement, First Home Buyer

Downsizing your home to fit your lifestyle

Mar 13, 2020 7:51:27 AM

There comes a point in most people’s lives when downsizing the family home makes good financial sense. Ongoing maintenance, empty bedrooms and costly monthly bills can make you seriously think about selling your existing home and finding something smaller or easier to maintain. Whether you’re an empty nester or just looking to get into a smaller apartment in the city, here are our tips for making those key downsizing decisions.

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Topics: Retirement, Smaller Property, downsizing your home, Home Loan Advice, Mortgage Advice

What is a Reverse Mortgage?

Mar 20, 2019 12:22:34 PM

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.

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Topics: Retirement, Home Equity Loans, reverse mortgage, NZ Mortgage Adviser, Home Loan Advice

FIRE: Financially Independent, Retire Early

Nov 9, 2018 5:00:46 PM

The latest buzzword to hit the finance streets: FIRE. It stands for “financially independent, retire early” and is a philosophy inspired by a wave of millennials who are no longer content to amass wealth by traditional means or wait to retire at age 65. In simple terms, FIRE means living frugally while saving most of your income. Sound crazy? Perhaps not.

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Topics: Retirement, Mortgages, NZ Mortgage Adviser, Early Retirement, Debt-free, Mortgage-free

Helping your kids onto the property ladder

May 11, 2018 1:47:30 PM

Despite a slowdown in property price increases, many first home buyers are still struggling to get a foot onto the property ladder. Which is why they’re turning to the bank of mum and dad for help. Is this a viable solution or are we just shifting the problem? Find out more about helping your kids onto the property ladder.

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Topics: Retirement, Debt Consolidation, Mortgages, Savings, First Home Buyer, Bank of mum and dad

Inspiring Good Saving Habits

May 11, 2018 1:39:15 PM

Most of us are aware of the importance of saving: Saving for a first home, saving for a holiday, saving for retirement. But how often does that message filter through to our children? Experts say it’s never too early to start talking to children about money, and this amazingly simple formula could help kickstart their good saving habits.

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Topics: Retirement, Debt Consolidation, Mortgages, Savings, First Home Buyer

How old is too old when it comes to a mortgage?

Apr 16, 2018 11:27:06 AM

Older home buyers entering the market for the first time appear to be growing in numbers in Australia and New Zealand, as a combination of rising rents and low interest rates makes buying property a more attractive proposition. But, how big a factor is age when it comes to lenders determining your lending ability? Read on to find out.

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Topics: Retirement, Mortgages, NZ Finance, Home Loan, reverse mortgage, Mortgage Debt

Buying and selling at the same time

Mar 21, 2018 9:48:45 AM

Timing is often a challenge when it comes to buying a new home and selling an existing one. In a perfect world, both transactions would happen simultaneously. In reality though, you could end up owning two properties while you sell your existing home. That’s where bridging finance comes in.

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Topics: Retirement, Mortgages, NZ Finance, Bridging Finance, Home Loan, reverse mortgage, Mortgage Debt

Retiring with mortgage debt

Mar 19, 2018 3:00:00 AM

An alarming number of New Zealanders will retire with mortgage debt, says credit rating business Credit Simple, indicating that a financially secure retirement is out of reach for many Kiwis. But it needn’t be. Planning ahead today goes a long way towards securing your retirement income stream tomorrow.

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Topics: Retirement, Mortgages, NZ Finance, Home Loan, reverse mortgage, Mortgage Debt