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There is an amazing amount of information on the web and you can Google almost anything with instant results.  But I thought it would be a good idea to introduce you to some specific websites which are very helpful when budgeting, building or purchasing a home. They all provide some great information and generally very easy to navigate around and understand

Over the last 3 years we've really seen the banks tighten their lending criteria. Gone are the days of approving loans based on your previous history & good character. These days we’re at a point where loans are approved based on if the ‘computer says yes’.

With the average house price in New Zealand being at least 6 times the average income and Auckland housing affordability around 9 times the average income, it may seem nearly impossible to live the dream of owning your own home.  However, over recent years we’ve seen a shift in the types of home loan applications we receive – with an increase in family members or friends purchasing homes together to get onto the property ladder.

In a decade or two we’ll probably look back on 2019 as a holding pattern year.

As the New Year fades away and the hustle and bustle of the holidays subsides, it is a good opportunity to revisit your financial goals and start implementing some simple tips and tricks to help you rebuild your equity.

The word deposit can cause a little confusion when it comes to buying a home, particularly if it’s your first home.  You’ll talk about deposits with the bank and you’ll also be asked for a deposit by the Real Estate agent. 

So, the word deposit comes up twice when buying a home, but are they the same thing?

I always say to my clients,

“Fix for you and not the market.”   

Although a lot of us may not know what we are doing in 5 years’ time, we do have an idea of what we will be doing in the next 1-3 years.

As interest rates are something we don’t have control over, if you structure your lending based on what you think they'll do rather than your personal circumstances---you’re likely to be disappointed.

Sometimes it seems that when you deal directly with the Bank you receive the above answer.  In my experience, a mortgage broker can give you a completely different one.  

The benefits of using a mortgage broker have become very apparent to me over the last few years, especially since earthquakes. 

There are all sorts of ideas and actions you can put in place to help reduce the loan term on your home loan.   The simplest way is to increase your repayments to reduce your mortgage term which ultimately means you save money by paying less interest.  But something generally needs to be sacrificed for this to happen. 

 http://platomail.platodesign.co.nz/t/r-CAD49771EE7C3BEC2540EF23F30FEDED