Interest-Only vs Principal & Interest Home Loans in New Zealand
When exploring home loans in New Zealand, a crucial decision is choosing between an interest-only loan and a principal and interest home loan. Each option has its own benefits and challenges, and understanding these differences is essential for making the right choice for your financial future in the Kiwi property […]
Is an Interest Only Mortgage NZ the Right Choice for You?
Interest-only mortgages have become a popular option for homebuyers in New Zealand. This type of mortgage allows borrowers to pay solely the interest on the loan for a set period, typically five to ten years, before commencing repayment of the principal. This can be an attractive option for those seeking […]
Is an Interest Only Home Loan a Good Option in New Zealand for 2024?
Interest-only mortgages are a form of home loan in which the borrower is required to pay only the interest on the loan for a specified period, typically ranging from 5 to 10 years. During this time, the borrower does not repay any of the principal sum borrowed. Once the interest-only […]
What Are the Costs to Refinance Mortgage in New Zealand?
Refinancing is the process of replacing an existing mortgage with a new loan, typically to obtain more favourable interest rates, lower monthly payments, or to access the equity in one’s property. The procedure involves applying for a new loan, undergoing the underwriting process, and completing the new loan. It is […]
How to guide for house hunting in New Zealand
The New Zealand housing market has been a prominent issue in recent years, with escalating prices and a dearth of affordable housing. Comprehending the current state of the market is essential for prospective property buyers in New Zealand. The market is highly competitive, particularly in major cities such as Auckland […]
Interest Rates NZ Plummet: OCR Slashed to 5.25% – What This Means for Your Mortgage
BREAKING: OCR Slashed to 5.25% – First Cut in 4 Years! The Reserve Bank of New Zealand (RBNZ) has just made a game-changing move by lowering the Official Cash Rate (OCR) to 5.25%. This reduction is the first we’ve seen since March 2020, marking a significant shift in New Zealand’s […]
KiwiSaver First Home Buyer Guide: Using Your Savings for a Deposit
KiwiSaver is a voluntary savings programme in New Zealand designed to assist individuals in saving for their retirement. It is available to all New Zealand citizens, permanent residents, and individuals from other countries who are entitled to reside in New Zealand indefinitely. KiwiSaver is a long-term savings programme, and contributions […]
Why should you consider a rate and term refinance home loan in New Zealand?
Rate and term refix is a form of mortgage restructuring in which the borrower aims to modify the interest rate, term, or both of their existing home loan. This refix type does not involve withdrawing additional cash beyond what is necessary to cover any associated fees. The primary objective of […]
Why do people refinance loan?
Reducing interest rates is one of the most common motivations for homeowners to refinance their mortgages. When interest rates decline, property owners have the opportunity to refinance their existing mortgage at a lower rate, potentially resulting in substantial savings over the duration of the loan. By securing a reduced interest […]
How to use our Mortgage Refinance calculator NZ to save money
Mortgage refinancing is replacing an existing mortgage with a new one, typically to take advantage of more favourable interest rates, reduced monthly payments, or to access equity in one’s property. When refinancing a mortgage, one effectively pays off the existing loan and obtains a new one, which may have different […]