It may seem easy to work out how much you earn, but when you are trying to get a mortgage to buy your first home you need to understand how the banks and lenders calculate your income differently from each other and it might be a bit different to how you would. The lenders will […]
Banks & Lenders Calculate Income Differently Read More »
It’s now been over three weeks since the Reserve Bank of New Zealand removed the loan-to-value-ratio (LVR) funding restrictions but we are still waiting for the banks to start offering low deposit home loans. The banks are now technically allowed to lend as much as they like. They could lend to everyone with just a
Why Are Low Deposit Home Loans Not Available Yet? Read More »
If you’re a first-time home buyer, or a previous home owner and you’ve been making regular KiwiSaver contributions for 3 – 5 years, you may be eligible for a First Home Grant of up to $10,000. It’s effectively free money so you should at least see if you can get it. You need to apply
Kāinga Ora Offer First Home Grant Read More »
So you are sick of wasting money on rent and know that you can afford a home loan but the bank says it can’t approve your home loan. You have checked on the online mortgage calculators and it is quite within your budget. But the bank keeps saying you cannot afford to buy a house.
Why Can’t The bank Approve Your Home Loan? Read More »
First home buyers have always struggled to get onto the property ladder, but now with co-ownership there is another way. For many years in New Zealand parents have helped their children with a deposit or part of the deposit needed to buy their first homes. That helps some people, but not everyone has parents that
Shared Ownership Helps Kiwi First Home Buyers Read More »
It was a year ago when Justin first approached us to ask about arranging finance to buy a family home. The situation was not simple due to having two defaults listed on the credit report, and income was marginal too. But Justin was determined to buy a family home and we knew with some effort
The 2-Step Approach Needed To Buy A Family Home Read More »
When you apply for any loan the lender will look at your credit score to determine if you have good or bad credit, but when you are looking at getting a home loan the lenders will also look at your bank account conduct to see how good you are at managing money. Bank account conduct
How Important Is Your Bank Account Conduct? Read More »
My name is Stuart Wills and I have been a mortgage broker in Auckland since 1997, Over that time I have spoken to a lot of people that are buying a first home or trying to buy a first home, and in all of those years I can say it has very rarely been easy.
Buying Your First Home Has Always Been Difficult Read More »
Does This Sound Like You? Many first home buyers struggle with deposits. You know that you can afford the repayments and often they look lower than what you are paying in rent. Buying a home seems like an obvious thing to do except the banks require a larger deposit than what you have. The banks
Many First Home Buyers Struggle With Deposits Read More »
When most Kiwis get a mortgage the mortgage broker and often the bank staff will ask them about mortgage protection insurance. They should explain that it’s a good protection to have so that you and your family can keep a roof over your heads should something go wrong and you either were to die or
Why Smart People Have Redundancy Protection Cover Read More »