This is bad news for first home buyers! In a time when it is hard enough to save a deposit to buy your first home, the Reserve Bank is wanting to see bigger deposits as a way to protect the property market from a drop in house prices. The Reserve Bank plans to tighten LVR […]
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It’s not easy buying your first home with a small deposit and in many cases it can seem that home ownership is an impossible dream. You can speak with most banks and they just say “NO” that you need a bigger deposit, or some banks and mortgage advisers might suggest the First Home Loans scheme
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Changes to the First Home Products come into effect on 1 April 2021. This includes the First Home Grants and First Home Loans. What Are The Changes? The changes recently announced include: lifting the house price caps for both new properties and existing properties in those places where access to a First Home Grant or
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This Government had us waiting since the end of last year for the changes for first home buyers, and today they were finally announced It’s intended that the changes will mean house prices increase less quickly, but economists are not so sure. The Government believe that the changes will help open up more opportunities for
Changes For First Home Buyers Announced Read More »
As mortgage advisers we often see people on social media either praising a mortgage adviser for getting them a home loan after getting frustrated with the banks who said “NO” or saying that it’s easier and faster to get a home loan approved directly with a bank. There is of course more to this that
Mortgage Advisers Get Frustrated With Banks Too Read More »
Many people will ask family and advisers if they should buy a house now or save a bigger deposit. This is a question that all first home buyers ask, and not just in New Zealand. In 2020 when COVID hit there were a number of economists that were predicting house prices to fall in which
Should I buy A House Now Or Wait? Read More »
While many Kiwi’s still think it’s out of reach to buy your own home, it is often cheaper than renting. Banks have tightened credit criteria significantly since the COVID-19 pandemic struck, but first home buyers still have a good chance of getting on to the property ladder particularly as buying a home under current low
It’s Often Cheaper To Buy Your Own Home Than to rent Read More »
You’ve found a home, but have you decided on what home loan suits? Often people compare the various banks saying the best loan is the one with the lowest home loan rates. In many ways that is due to the way the banks have promoted home loans. They tend to focus on what is easy
How Important Is Getting The Lowest Home Loan Rates? Read More »
It no secret that it is hard to buy your first home, but it’s “almost a secret” about the help to buy available too. Successive Governments have said they want to “fix” the housing problems that we have in New Zealand, but really they are tinkering with the issue and they have not been able
Who Needs Help To Buy Your First Home? Read More »
Have you heard of co-ownership with property? It’s a way to get into your first home when you do not have a large deposit. Traditionally you may have entered into a co-ownership agreement with a family member (typically a parent) where the other party may have the equity to enable you to buy a property,
Co-Ownership Helps You Get Into Your First Home Read More »