When Plans Go Pear-Shaped: Handling Cost Overruns in Your NZ Build
Cost overruns in construction projects are attributed to various factors. Inadequate initial planning and budgeting is a common cause, leading to unexpected expenses and delays during project execution. Design or scope modifications during construction can also result in cost overruns, especially when necessitated by unforeseen circumstances or client requests. Poor […]
Construction Loans vs Standard Home Loans: Key Differences for Kiwi Borrowers
When financing a home building project, two primary options are available: construction loans and standard home loans. Construction loans are specifically designed to fund new home construction, while standard home loans are used to purchase existing homes. Construction loans are typically short-term and cover the costs associated with building a […]
Making Sense of the Bright-Line Test: Essential Info for NZ Property Investors
The Bright-Line Test is a tax regulation in New Zealand that applies to residential property sales. Implemented to address property speculation and reduce short-term property flipping, the test requires individuals who sell residential property within a specified period to pay tax on any profits from the sale. The timeframe has […]
Refixing vs Refinancing: Which Is Right for Your Kiwi Mortgage?
Refixing and refinancing are distinct options for homeowners managing their mortgages. Refixing involves selecting a new fixed interest rate for a specific period, typically ranging from six months to five years. This option allows homeowners to secure a favorable rate and maintain stable mortgage payments during the fixed period. Refinancing, […]
Fixed or Floating? Making the Smart Choice When Refixing Home Loan NZ
refixing home loan NZ
Investment Property Tax NZ: 2024 Update and What It Means for Kiwi Investors
Investment property tax in New Zealand are a complex and evolving aspect of property investment. These taxes include income tax on rental earnings, potential capital gains tax on property sales, and various property-related expenses. The tax laws surrounding investment properties frequently change, necessitating ongoing education for investors. The tax implications […]
Are You Eligible for the First Home Loan Grant NZ? Here’s What You Need to Know
The First Home Loan Grant NZ is a government program designed to assist first-time homebuyers in purchasing their initial property. This one-time grant varies in amount based on the property’s location, with higher sums typically allocated to areas with increased housing costs. Recipients can use the grant towards their deposit […]
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 […]
Mastering Negotiation: How to Secure Better Refix Rates NZ with Your Lender
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 […]