The adage 'cash is king' is never truer than in a crisis. Cash gives you the flexibility and freedom to respond to changes. Now is a good time to have a small cash buffer in your mortgage. The thing to remember is banks don’t want you to default on your mortgage, and they have temporary options in place which are designed to support those who find themselves in financial hardship.
Making it onto the property ladder is a huge milestone, but the journey doesn’t end there. Now you're in a huge amount of debt. We've put together some of our top tips for helping you manage and pay your mortgage off faster.
Anyone that’s moved properties knows just how exhausting it can be. Between getting your place on the market, heading to open homes and making offers, both buying and selling can be overwhelming in their own right.
Property development carries with it many risks and currently it’s perhaps the most difficult market to find finance. Often, I find clients who haven’t exercised much patience and as a result can find themselves in a pickle.
Our view is that mortgage rates will stay low for the foreseeable future, but they are unlikely to drop much further. To explain this, we'll look at the bigger picture, and shed some light on how the OCR affects mortgage rates.
Working with development and commercial property funding, price is often an obstacle that I come up against. Many people have little understanding of how risk-based pricing works, and it can come as a bit of a shock when pricing is uncovered.
When it comes to property, the risk is that borrowers (and speculators in particular) think tomorrow will be better than today and don’t act. Watching a speculator in action is like putting a frog in water and gradually increasing the temperature. The frog never jumps out.
A mortgage isn't something you set and forget. It should be reviewed regularly with the ups, downs, plot twists of life and interest rate fluctuation. Especially if you want to pay it off as fast as possible and save money on interest. If you haven't had yours reviewed in a while, here are 5 simple things to consider.
For the last while we’ve been grappling with ever tightening rules on interest-only for investors, and that’s just the beginning of the hurdles. Servicing is getting stricter and investors are having to jump through a few hoops to keep the banks happy.
Over the last 12 months there has been a huge influx of investors into the Commercial Property market. Those chasing yield are shifting towards it because it historically gives you a better bang for your buck than residential property. We see plenty of investors who don't fully understand the finance side of these investments, so here's our advice.
As New Zealand’s leading mortgage broker, Squirrel has engineered a new financial product called Squirrel HomeBuild that makes building a new home simpler, and without the traditional hassles associated with building.
We're covering off some quick things to look out for when doing a development so you don’t get caught high and dry. I'll talk GST, development costs, two key ratios and second tier lenders.