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 […]
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
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 […]
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 […]