In early August, the Reserve Bank of New Zealand (RBNZ) lowered the official cash rate to a record low of 1.0%, and indicated it could go lower. Along with some of the other possibilities described below, this has revitalised the old saying that “cash is trash” – or in other words, cash left for the long term in bank accounts is rubbish compared with what can be achieved by properly investing...
Read moreRead more
Articles
End of year financial checklist
As the weather warms, the beach and barbeque are probably calling your name. Though something else worth spending a little time and attention on during the holiday season is your finances.
Just like your physical health, your financial health needs a check-up at least annually.
Before the year that has been like no other winds down, take some time to check in on your financial...
Read moreRead more
Investment
Financial advice plans and pricing
Not sure what your retirement will look like? Deciding whether to invest in property? Retiring and need to know what to do and how much you can spend each year? Wondering if you're overpaying for insurance? Not sure what to do after paying off the mortgage? Deciding what to do with an inheritance or other sum?
Read moreRead more
Buying your first home can be a daunting undertaking, so we’re here to remove technical language, simplify the process, and make sure you get a great mortgage.
Read more
First home buyers with a ready deposit and stable employment have been making the most of record low interest rates and a yearlong loosening of deposit rules. This is part of the reason there has been a surge in housing market activity since the Covid crisis first struck.
Younger Kiwi’s still love property
Before Covid, some had suggested that younger generations might...
Read more
We have now officially said goodbye to winter and are enjoying the first days of spring. Now is the time to take a fresh look at your finances to ensure you are on track to achieve your financial goals. Talk with us about your financial plan but, before doing so, consider the following:
Are you getting the best from your mortgage?
Interest rates are likely to start rising, so...
Read moreRead more
Articles
How could proposed banking changes impact your mortgage rate?
Recently proposed changes to the amount of financial backing New Zealand banks need to operate could have a significant impact on all New Zealanders with a mortgage – or about to get one. Such changes could also impact those saving money in the bank.
Read moreRead more
Articles
How to buy your first home
Buying your first home can be tricky. Over recent years it’s been difficult to visit any New Zealand news site and not see an article about housing unaffordability. The increase in property values over recent years has pulled back a little (even before Covid-19 struck), but for many, purchasing your first home can still seem like a far-fetched pipedream. Despite this, home...
Read more
While it’s always been a challenge to get together the deposit for a home, it’s certainly not got any easier for first-home buyers over recent years. Having a roof over your head to call your own is the cornerstone of most people’s financial plan, so to help out, here are the top five ways you can get a bigger home deposit:
1. Increase your savings
Increasing your savings is a...
Read moreRead more
Articles
How to improve your credit rating
Even if you have a faultless record of repaying any debts, if you’ve ever applied for a credit card, home loan, phone contract or hire purchase agreement, you probably know the feeling that comes when you hear the words, “I’ll just have to run a credit check”.
When a lender runs a credit check, they’re requesting information that relates to your history of repaying debt to help...
Read moreRead more
Articles
How to make the most of current mortgage rates
The last few months have provided the perfect storm which has benefitted borrowers and punished savers.
New Zealand interest rates (or more specifically, the Official Cash Rate) remained unchanged at one percent in November. This left those who’d been holding out for a further drop in mortgage rates disappointed.
Given the next review is not until February, with several...
Read moreRead more
Articles
How to prepare for a home auction
Auctions can be a great way to buy a home, however they can also be challenging and stressful, particularly if it’s your first time. Auctions can bring out emotions based on attachment to a potential home, excitement, and sometimes they can also bring out a sort of primitive urge to win.
With other methods of sale, you can make an offer, but you usually won’t know how many other people...
Read moreRead more
Articles
LVR restrictions removed
The Reserve Bank of New Zealand (RBNZ), who regulate NZ mortgage lending, has decided to remove the loan-to-value ratio (LVR) restrictions until 1 May 2021 in response to the Covid-19 pandemic. This change marks the end of nearly seven years of LVR limits.
What were the LVR restrictions?
LVR restrictions were limits placed on banks by their NZ regulator to reduce the amount of...
Read more
Mortgage mistakes can be costly – if not now, in the future. For all of us who already have a mortgage, here are the top six mortgage traps we should avoid, along with a few tips of what we can do instead.
1. Getting extra lending to buy things you don’t need
As we repay the loan on our home, and as property prices increase, it’s natural for us to start feeling wealthier. We...
Read moreRead more
Mortgages
Mortgage advice
When it comes to finding a great mortgage, we have the know-how to help you get an impressive deal. After you reach out to us, we’ll assess your situation and provide you with professional mortgage advice on your options, how to strengthen your application, how to structure your mortgage to suit you, what traps to avoid, and how to become mortgage-free faster. You could save...
Read more
Enter your loan amount, interest rate and loan term below then click "calculate". To compare different combinations, add calculators using the "add another calculator" link.
Read moreRead more
Articles
Mortgage holiday extension
The Reserve Bank of New Zealand’s (RBNZ) Deputy Governor doesn’t want there to be an abrupt end to the six-month mortgage repayment deferrals (sometimes called a mortgage holiday) banks have been offering existing customers since the end of March.
This has been predicted by most commentators in the area, as NZ’s general election and the end of the extended wage subsidy scheme – which...
Read moreRead more
Articles
Mortgage lending soars
The more funding there is available to purchase homes, the more the price of homes can rise.
The mortgage lending market is growing robustly according to the Reserve Bank’s latest figures, which recorded a $1.1 billion jump compared with the same month a year earlier, the fourth such increase in a row and the strongest burst of activity in four years.
The total we all owe in...
Read moreRead more
Articles
Mortgage rates to increase
Interest rates on mortgages and other loans are estimated to rise by between .20 and .60 percent as a result of the Reserve Bank's decision to require banks to put an extra $20 billion of capital into their businesses. The Reserve Bank put the figure at .20 percent, while ANZ believed the impact could be up to triple that, with other estimates somewhere in between.
This is because the...
Read moreRead more