If you are a first home buyer you may have heard people mention the LMI fee and wonder what is lenders mortgage insurance, and ask yourself why it is being added to the loan. Obviously you don’t really want the extra cost of the LMI fee, but on the other hand you do really want […]
What is Lenders’ Mortgage Insurance and Why Is It Used? Read More »
In response to feedback received on its proposed policy for debt serviceability restrictions (DSRs) on residential mortgage lending, the Reserve Bank of New Zealand said it will design a framework for debt-to-income (DTI) restrictions. The Reserve Bank sought feedback in November 2021 on the merits and the potential design on a Debt to Income system which if
Reserve Bank May Introduce Debt To Income Ratios Read More »
As kids we loved to jump through hoops, but as new buyers it’s not much fun at all. New lending rules have created more hoops to jump through, cut off credit to borrowers who would have qualified only months ago, and generally shrunk the size of loans being approved. The key driving force that is
Mortgage Advisers Are Helping New Buyers Jump Through The Hoops Read More »
It’s been a long time since we’ve had to be concerns about inflation. In the past it’s been caused by people spending too much, which typically means the economy is booming. Normally that means wages have increased and keep pace with the price increases so people are not normally too concerned. Back in the 1970’s
Understanding What’s happening With Interest Rates & Inflation Read More »
Buy now pay later providers offer the ability to buy products or services now while paying for it with intertest free instalments over a period of usually four to six weeks. While they don’t charge interest to the buyer, they can have hefty penalty fees if a payment is missed. The providers charge the seller a
Avoid The Buy Now Pay Later Debt Trap Read More »
As mortgage advisers we talk to first home buyers all the time about making a smarter start and with this we see the struggles that many people have too. Sometimes people are so close to being able to buy their first home, and it may be something small that means that they cannot make that
What’s The One Change You Will Make In 2022 Read More »
It’s sometimes funny why people say use a mortgage adviser! So often in New Zealand people say “just go and see your own bank” and that makes you question where a mortgage adviser fits. Where or why does a mortgage broker add any value? If you are a first home buyer and your mother or
why people say use a mortgage adviser Read More »
Anyone In New Zealand that is looking at buying your first home will have noticed that it’s become a lot harder. It’s always been hard enough to buy your first home, but the buyers in the market now have been hit in a number of ways and they’ve hit all at the same time too.
How Hard Is It Buying Your First Home Read More »
Buying your first home is not always that easy, so as a mortgage adviser I am sharing five tips to improve chances for first home buyers and enable them to buy a better home sooner. Let’s look first at the major challenges that first home buyers have, and then we will share some ideas that
Five Tips To Improve Chances For First Home Buyers Read More »
We often look at the prices that houses are selling for and question if New Zealand houses too expensive. Most of us probably think they are, but what is too expensive? Let’s Get Some Detail What we decided to do was to look at how New Zealand house prices compare to the average prices around
Are New Zealand Houses Too Expensive? Read More »