Navigating Your First Mortgage Pre-Approval: Top Tips from Fundmaster
The pre-approval process is a crucial step in purchasing a home. It involves a comprehensive evaluation of your financial status by a mortgage lender to determine the amount they are willing to lend for a home purchase. This process is important as it provides a clear understanding of your budget […]
Negotiation Know-How: Securing Better Rates with Your Current Lender When Refixing
Loan refixing is the process of renegotiating an existing loan’s terms and conditions. This may involve adjusting interest rates, extending the loan term, or modifying the repayment structure. The primary objective is to secure more favorable terms that better suit the borrower’s current financial situation and long-term goals. However, refixing […]
Perfect Timing: When to Refinance Your Mortgage in New Zealand
In order to make informed decisions about refinancing your mortgage, it’s crucial to have a clear understanding of the current market conditions. Interest rates play a significant role in the decision-making process, as they directly impact the cost of borrowing. Currently, the market is experiencing historically low interest rates, making […]
Maximising Your KiwiSaver: A Step-by-Step Guide to First Home Withdrawals
KiwiSaver is a voluntary retirement savings program in New Zealand. Established to assist individuals in saving for retirement, it offers various benefits including employer contributions, government contributions, and the option to withdraw funds for purchasing a first home. New Zealand citizens, residents, and those with indefinite right to live in […]
Unlocking the Door: A Complete Overview of Kiwi Government Assistance for First Home Buyers
The KiwiSaver First Home Withdrawal is a New Zealand government initiative that enables eligible first-time home buyers to access their KiwiSaver funds for purchasing a residential property. Participants can withdraw their personal contributions, employer contributions, and investment returns to use as a deposit or part of the purchase price. To […]
Refinance Mortgage Calculator NZ: How Much Could You Save on Your Kiwi Mortgage?
Refinancing involves replacing an existing loan with a new one that offers more favorable terms and conditions. This financial strategy can be applied to various types of loans, including mortgages, auto loans, and personal loans. The primary objective of refinancing is to achieve cost savings through a lower interest rate, […]
The Cost of Breaking Up: Understanding Refinance Mortgage Break Fees in NZ
Refinancing a mortgage offers potential benefits such as reduced interest rates, lower monthly payments, or access to home equity. However, refinancing before the end of the current mortgage term may incur refinance break fees. These fees are imposed by lenders to recover potential interest income lost due to early termination […]
The Ultimate Guide to First Home Buyers Deposit NZ: How Much Do You Really Need?
In New Zealand, the standard minimum deposit for home purchases is typically 20% of the property’s price. For a $500,000 home, this equates to a $100,000 deposit. However, exceptions exist, particularly for first-time buyers. The First Home Loan Deposit scheme allows eligible first-time buyers to purchase a home with as […]
OCR Decision: RBNZ Takes a Break from Raising Interest Rates as Economy Slows
In its recent monetary policy review, the Reserve Bank of New Zealand (RBNZ) decided to keep the Official Cash Rate (OCR) steady at 5.50%. This marks the end of nearly two years of consecutive increases in the OCR. The RBNZ stated that the current level of interest rates is having […]
Three signs that the market is turning
It’s been a tough sixteen months for kiwi homeowners and buyers. Ever since the double-whammy of the moronic changes to the Consumer Credit Finance Act, introduced in December 2021, and the dramatic increases in mortgage interest rates which started in early 2022, the property market has taken hit after hit […]
Why are we so angry about housing inequality?
The New Zealand Herald and NZME recently published the findings of an extensive survey on the attitudes of kiwis toward a range of issues to find out what had unified and what had divided the country. Titled ‘The New New Zealand: Rebuilding Better’, the survey concluded that New Zealand has […]