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Read up on what you need to know if you’re looking to buy your first house or move into a new one.
House buying
What is a bridging loan and who can get one?
If you’re looking to sell and purchase a new property, understanding exactly what bridging finance is can make the difference between getting or not getting the property of your dreams.
Here, we cover the basics of bridging loans, explaining what they are and who should get one. Discover if bridging finance is the best [...]
5 May 2022Top 5 Most Affordable Places to Live in New Zealand
New Zealand has always had a great reputation for its quality of life and is considered one of the best places to live. However, the cost of living is quickly rising, and home loans are taking up more of our income. In this blog post, we explore some of the most affordable places to live [...]
29 April 2022Budgeting considerations for new homeowners
Saving for a home and making your offer will likely be the most stressful, yet incredibly exciting, experience of your life. Once you’ve got a place to call home, some financial adjustments often need to be made. With a new home loan, bills, and fees, a re-budget is often the first thing on the [...]
7 February 2022Key Factors to Consider When Buying a Home
Buying a first home is one of the best feelings in the world, but there are a lot of things you need to consider to ensure that you are making the right choice for you and your family. Here, we’ve come up with a list of some of the key factors to consider when [...]
How to pay a mortgage off faster
Mortgages are most often a person or family’s largest type of loan and are one of the most important things to review to stay on top of your money. Paying off your mortgage early can be a massive saver in the long run by lowering the amount of interest that needs to be paid.
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What is home equity and why does it matter?
Home equity could help you into a new home, grow your investment portfolio, fund renovations and construction or even go on holiday. But what is home equity, and how do you actually unlock it? Our guide breaks down what you need to know. WHAT IS HOME EQUITY?
Home equity is the difference between how much [...]
Fixed vs floating interest: what’s the difference?
Your choice of a fixed or floating interest rate for your home loan can make a huge difference to how much you pay and how fast you pay it. It’s one of the most important home loan decisions you’ll make!
Let’s look at what you need to know about the pros, cons [...]
Say goodbye to damp windows this winter: here’s how
How do you know it’s winter? When the windows start dripping. While it might seem like just another staple of New Zealand homes, you don’t have to put up with a pool of water at the bottom of your windows every morning. HOW CONDENSATION FORMS AND WHY IT MATTERS
Condensation is the result [...]
Can you still get a first home loan with bad credit?
If your credit score is stopping you from getting your first home loan, it can feel like you’ll never find a place of your own in New Zealand. But there is a light at the end of this tunnel.
WHAT IS BAD CREDIT?
‘Credit’, ‘credit score’, ‘credit history’. These are all different ways [...]
Getting a loan for an apartment
Buying an apartment as your first home could be a great alternative to buying a free-standing house.
Apartments can be more affordable, are often more central, and sometimes come with some added perks like a shared gym or pool. But getting a loan for an apartment can be a little different to getting a loan [...]
What’s a good credit score and why does it matter?
Heard someone mention a credit score and wondering what it means and how it affects your ability to obtain credit? Read on for a guide to what you need to know about credit scores. Read more: Fixed vs floating interest: what’s the difference?
SUMMARY OF CREDIT SCORES AND CREDIT REPORTS A credit score is [...]
Bad credit? A finance broker could help
Bad credit – it happens. But a few past mistakes don’t have to stop you from getting a loan now. Here’s how working with a broker could help ease your way with a bad credit loan.
Read more: Should you get a personal loan through a broker?
WHAT IS A FINANCE BROKER?
A [...]
How to buy your first home with no deposit
Putting together a deposit can seem impossible these days – but what if we told you that you could purchase a home in New Zealand without any deposit at all? Zilch, nada, not a penny in the bank required.
Read more: How to get a first home loan in NZ with less than 20 per cent [...]
Why self-employed home loan seekers should consider a near prime mortgage
Being your own boss is great, but getting a home loan when you’re self-employed can be tough. Without the right documentation (and the right amount of documentation), it can feel impossible to get into your own home. However, there is a solution.
If you’re self-employed and need a mortgage, a near prime home [...]
What is a near prime home loan?
If you’ve approached a main bank for a mortgage and they’ve rejected your application, a near-prime home loan might be right for you. Here’s what you need to know.
WHAT IS A NEAR PRIME HOME LOAN AND WHY SHOULD YOU GET ONE?
A near prime home loan is a mortgage designed [...]
Why “is it cheaper to rent or buy?” might be the wrong question
With interest rates at historical lows (and indications from bank economists that they could drop lower), renters ready to take on a home loan will be taking an even closer look at the property market than usual. Is it time to make the switch? Or is it better to stay renting?
We take a look [...]
Everything you need to know about mortgage holidays or deferrals
If you’re struggling with debt because of unexpected temporary hardship, a mortgage deferral or holiday might give you the relief you need to get back in the saddle. But before you take the plunge, it’s important to get the full story.
WHAT IS A MORTGAGE DEFERRAL OR HOLIDAY?
A mortgage holiday or [...]
What do the LVR removals really mean for first home buyers in New Zealand?
Following strained economic conditions for the country due to COVID-19, the Reserve Bank recently removed their loan-to-value ratio ‘speed limits’. But what does that actually mean for first home buyers in New Zealand? Will it really make it easier to get a loan? Here’s our breakdown.
WHAT WERE THE LVRS?
The loan-to-value ratios [...]
How to get a first home loan in NZ with less than 20 per cent deposit
Hitting a hurdle with your first home loan deposit? Sounds like you might need a boost – or another route! These are your options if it feels like that magic 20 per cent is constantly out of reach. We break it down below.
In this article Why you need a 20 per cent deposit
How to boost your [...]
What’s a good price for your first home?
The biggest barrier to buying a house in New Zealand for most first home buyers is the price. But don’t let medians and averages fool you: your first home could be a lot less expensive than you think, if you search with the right strategy. Here’s our breakdown.
In this article: How much [...]
Are you asking yourself these 3 important questions about your first home?
Welcome to the start of your property buying journey! It’s tempting to rush out to open homes and auctions, but you need to have a solid idea of what kind of home you want and need.
While everybody has different things on their first home wishlist, we’ve noticed that there are three primary [...]
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There are free and independent budgeting services that are available to help you assess your finances and help you with your budget.
Sorted – Sorted is a website offering plenty of free and user-friendly online budgeting tools and advice. Visit www.sorted.org.nz
MoneyTalks – MoneyTalks is a free helpline available to provide free budgeting advice to individuals, family and whānau. Call 0800 345 123 or visit www.moneytalks.co.nz