New rules make securing finance tough but not impossible for first home buyers

In our last update we discussed how the Reserve Bank’s latest lending restrictions, in place from November 1, were set to make securing finance tough for first home buyers. With the Reserve Bank changing the amount of high loan-to-value ratio (LVR) lending permitted, banks were required to cut new lending to owner-occupier borrowers who have […]

December Lending Update

Our mortgages and lending update, as the end of 2021 approaches We’re certainly nearing the end of the year, and many will be looking forward to 2022 as a fresh start from the alert level restrictions we have been dealing with since August. I thought now is the ideal time to both reflect and update […]

Planning for the Future: A Guide for New Parents

Planning for the Future: A Guide for New Parents Your bouncing bundle of joy might need more than diapers and love right now, but, rest assured, as kids grow, so do the expenses they incur. Between cars, college and clothes, you’re in for 18 years of expenses. It’s estimated that it costs somewhere in the […]

Interest Rates May Fall Further

The fact that NZ Dollar remained quite stable even during global financial crisis and recession around the world allowed RBNZ to keep interest rates high for a long time. This naturally attracted foreign investors who enjoyed high yield from banks in NZ and their money helped in boosting the housing sector.  RBNZ announced a reduction […]

August Update

Welcome to our August update, continuing on with our series of market commentary from one of New Zealand’s top financial journalists, Bernard Hickey. New Zealand’s economic outlook may have stumbled through August, but the outlook for property markets and interest rates remains positive as Auckland’s boom begins to spread and the Reserve Bank keeps cutting […]

Property And Mortgage Market

The property market in New Zealand is still growing at a reasonable if not high rate. Home values across New Zealand have generally recouped any losses they suffered between 2008 and 2010 in the last four years. The availability of housing across New Zealand has increased by 13,500 units per year and the sales of new and […]

Property Price Rise Gains Momentum

The strong upswing in the property prices in New Zealand, seen last year has slowed drastically in the recent few months. The asking value for properties and real estate has inflated by a mere 3.9 percent this year in comparison to healthy 8.7 percent, which was recorded last year. Only 6,608 house sales was recorded […]

Interest-only Loans – What are They and are They for You

A loan is said to be interest-only if the monthly instalment payment that has to be made by the borrower consists of only the interest. The luxury of paying the interest lasts only for a specific period of time though, which normally ranges from five to ten years. The borrowers though have the option of […]

Thinking About Refinancing? Your Timing could not have been Better

Homeowners, this is the perfect time for you to refinance in New Zealand. The mortgage rates are sliding down. The average mortgage rates in January this year was around 4.53 percent which has come down to 3.92 percent as recent as last week. The decline in interest rates has increased mortgage refinancing.

‘Locking In’ Mortgage Rates: What Is the Catch?

A mortgage rate lock, also known as lock-in, is the lender’s approval to provide a home loan at a certain fixed interest rate for a certain amount of fee. This means that within the lock-in period, any fluctuations in the current market’s interest rate will not affect the rate at which you are getting your […]