The mortgage market has tightened up somewhat but provided you have strong income and a stable job history or no debts, then 95% is still an option for you. We now have 4 or 5 different options if you are borrowing over 80%. In all instances they only apply to people with decent incomes –
My Opinion is not yet. There are some really interesting dynamics at play in the housing market and they differ across the country. The biggest driver will be “limited access to credit.” Most of the banks are only lending to 80% now for Residential and 70% for Investment Property. This rules out a lot of
Getting a mortgage out of a bank is getting as hard as fermenting wine in a gumboot! Naturally, with house prices and interest rates dropping, we have an increasing number of clients wanting to buy property. Frustratingly, the banks keep tightening credit criteria because (1) they don’t have enough funding to meet demand and (2)
Lenders have pulled-back from lending to First Home Buyers. Our view is that this has created opportunities for Investors to fill the gap and earn good returns (circa 10%-15%.) Each investment is small and you get to choose your Home Buyers. We’ll work with you to minimise the risks
Credit and lending decisions are increasingly being made by “Head Office.” This can have unwanted outcomes that you need to be wary of. More than ever it is important to plan your mortgages and split your relationship across multiple banks
most recent posts
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Banking and the Jaws of Death
September 9th 2010 -
Mortgage Packages | Best Mortgage Deals
August 21st 2010 -
NZ Mortgage Rate Forecast | Wet and wild with patches of sun
August 21st 2010 -
First Home Buyers | A New Mindset
August 7th 2010 -
Musings | Bank Economist versus Pikelet the Pig
July 31st 2010