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The Week that Was - Week Ending 19th November 2021

The clock has struck 12, and new lending restrictions are here, hitting first home buyers really hard, especially this past week. With the over 80% lending restrictions now well intrenched, we have seen a number of banks pull out of the space altogether. This week we have seen Kiwi Bank pull existing pre-approvals for those without a 20% deposit, something I haven’t seen in my career. BNZ have also announced today that they are no longer accepting any applications for clients without a 20% dep...

November 19, 2021

The Week That Was - Week Ending 8th October 2021

The Week That Was - Week ending Friday 8th OctoberThis past fortnight we have had some interesting developments, with the first OCR increase in 7 years taking the headline. Although widely expected, it does show the shift in perceptions with interest rates, and how the Reserve Bank will factor regional lock downs, with both the Waikato & Auckland regions in Level 3 during the announcement. We have also seen one of our largest mortgage lenders adjust their policy for over 80% LVR lending, a resul...

October 8, 2021

How to buy your new home when you've still got to sell your own - Conditional of Sale Offers

To follow on from our last post regarding the different ways to buy a home when you’ve got one to sell, we’re now going to take a look at making offers ‘Conditional of Sale’. This is the way most people go about buying a new home when they’ve got one to sell, and when it pulls off, can be a fantastic option to secure a home prior to having to sell your own. What we’re doing here, is making an offer on a property on the condition that you sell your own home, so securing a contract on ...

September 29, 2021

The Week That Was - Week Ending 24th September 2021

Welcome to Level 3 Auckland! This week has been a quieter week on the news front, as we see a lot of main banks finalise their policies on the upcoming changes to CCCFA. However we have had some pretty significant (unfortunate) news from the RBNZ this week, which is they have reduced the banks ability to lend funds to those without a 20% deposit, which is mainly first home buyers. This change means  banks can now only lend 10% of new mortgages to those without a 20% deposit, which is a redu...

September 24, 2021

The Week That Was - Week Ending 17th September 2021

So the past week hasn’t really been the bearer of good news unfortunately, with a number of changes that have been brewing for quite some time starting to be introduced. However, we are now in Spring, and we’re (sorry Auckland) out of Level 4, and starting to be able to get out and about again, so it’s not all bad in the world. But lets take a look at some key things that have happened in the past 7 days News this week. • One of the Major Banks have increased their servicing requirements...

September 17, 2021

How to buy your new home when you’ve still got to sell your own – Bridging Finance

With listings across the country at all-time lows, and the vast majority of properties selling being Auction campaigns, buying a new home can be pretty tricky when you’re also needing to sell your existing home as part of the process. The current listing stock is a bit of a double-edged sword, with a lot of people I talk to looking to sell their homes being somewhat fearful of selling first and not being able to find the suitable property in the time they have until settlement of their home. S...

September 15, 2021

What Are Some of The Costs of Buying Your First Home

The process of buying a home can be one of the most exciting (& stressful) times of adulthood, however it does come with some costs.  So let’s break these costs down & take a look at some of the most common costs you may incur from house hunting to settlement date ·      Building Report. A building report is certainly one of the musts with due diligence. A building report not only picks up any major issues, it will also walk you through things that require ongoin...

July 30, 2021

Non-Bank Lending - Credit Impairment 101

In this 101, we're going to be looking at Non-Bank Lending & credit Impairment, and the options available in this space for homeownership to those who may have experienced issues in the past. Non-Bank lending is becoming such a vital space in the New Zealand lending landscape, as it provides a vast range of alternative options to Kiwi Families in comparison to what mainstream banks can offer, and helps us as advisors with options to those who a bank may not be willing to support....

July 1, 2021

The Difference in Deposits - 10% - 19%

A 10% deposit is generally the goal for most first home buyers, & is generally the starting point for most banks outside of the First Home Loan. So if we can tick this box, it’s a great start to the journey of buying your first home. However, there are limitations. So firstly, you will need a registered valuation for the property you intend on buying. This can be difficult for auction properties, as you need the valuation before you can bid, so can costly, with a valuation costing anywhere fro...

June 28, 2021

The Difference in Deposits - Under 10%

One of the main barriers for Kiwi’s looking to buy their first home, is coming up with the deposit. The Reserve Bank has restrictions in place on banks that means they are restricted in how much they can lend to those without a 20% deposit, so what does it mean for you at different levels of deposit. Today we’re going to look at the options for those who have between 5% & 9.9% deposit. So the minimum deposit requirement across the board is 5%, but there will likely be some strict criteria yo...

June 23, 2021

Bank Statements 101

One of the most important documents of a loan application is 3 months bank statements. This is because it is the way that lenders get an idea of how you manage and spend your money. For today's 101 we're going to be talking about at what a lender is looking at in these statements, and how to have your bank statements clean and tidy to help get that loan approval....

June 16, 2021

Cash Savings 101

In Today's 101 we're finishing up different ways to come up with a deposit, and we're going to be looking at cash savings. This video covers off any misconceptions around how much cash you may need for a deposit on your first home, and also the benefits of having a bit of savings in the back pocket....

June 9, 2021

Guarantees 101

To round out the different ways that family may be able to help with coming up with a deposit to buy your first home, in todays 101, we're going to be looking at Guarantees and how they work for all involved....

June 2, 2021

Help from Family/Deposit 101

To continue on from our previous 101 videos, we're going to continue our focus on different options for coming up with the deposit. Sometimes we're lucky enough to have family that are in a position to help us with buying a home, in the form of assistance with the deposit. So for today's 101 we're going to take a look at how family can help with getting into your first home...

May 26, 2021

First Home Grant 101

The First Home Grant (previously Homestart Grant) can be a great boost for some First Home Buyers, with the potential for some to have access to a $10k boost to their deposit! However, there are a lot of T's & C's that need to be met, so for today's 101, we're looking at what you need to know, and what needs to be met to be eligible for the First Home Grant....

May 19, 2021

KiwiSaver 101

KiwiSaver frequently plays a major role in coming up with the deposit for a first home, you can even use KiwiSaver to make up the entirety of your deposit! Here's a quick 101 on some of the key aspects of using KiwiSaver to help buy your first home!...

May 12, 2021

Debt 101

One of the most common questions for first home buyers is around debt, and what impacts it has on a home loan application. So for this weeks 101 - we're looking at what effects debt can have when applying for a home loan....

May 6, 2021 Posts 1-17 of 17 | Page