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Lifestyle and Technology

Seven ways to save money on your mortgage

In a perfect world, your bank would let you know every time there was an opportunity for you to save money. But the world isn’t perfect so it’s up to you to stay on top of your home loan. It could save you thousands of dollars. How? Here are seven things to consider.

Housing Market

Housing market still supported by low interest rates this year

Two weeks ago, I wrote on the theme that young buyers will probably hold back from the residential real estate market until they see older investors returning – then they too will return. Evidence for this has already been shown from my surveys.

Housing Market

What’s happening to Mortgage Rates?

It’s just a little bit odd at the moment trying to make sense of mortgage rates. The mortgage rate signals that borrowers are receiving are somewhat confusing.

Housing Market

How to manage 60% - 70% LVR restrictions for property investors

In March the Reserve Bank will reimplement LVR (loan-to-value ratio) restrictions on property investors. This will mean lending for investment properties will be required to have a 70% or possibly 60% loan-to-value ratio.

Housing Market

Why property investors should consider refinancing

There are numerous reasons to regularly review your mortgages and make sure you still have the right overall solution for your lending. Part of that includes not putting all your eggs in one basket, and splitting your lending across different banks to avoid sticky situations.

Housing Market

Professional property investing when a home loan is no longer a home loan

As a general rule of thumb, any property investor who has at least six rental properties is viewed as a "professional" property investor through the eyes of the bank. And the way these investors are treated by the banks is markedly different to someone whose main income is not from property.

Housing Market

What I’d do if I was a first home buyer in 2020

There’s a lot of mixed messages out there about property at the moment. Some is from complete pessimists who think the world is coming to an end. Some is from the industry who are far too bullish and whose income is in some way tied to property. We’re arguably in the latter camp (given we’re mortgage advisers) – but we try to call it as we see it.

Lifestyle and Technology

Does going on a Mortgage Holiday affect your credit score?

In response to Covid-19 and the financial stress that many Kiwis are suddenly facing, the Reserve Bank of New Zealand is allowing banks to offer 6-month ‘mortgage holidays’. Although we prefer the term Mortgage Repayment Deferral because it’s not really a holiday.

Lifestyle and Technology

COVID-19 - How to apply for a mortgage repayment deferral or switch to interest-only

Among all of the current madness you may have heard about the banks offering mortgage holidays, or repayment deferrals. Here's how the process works with each of the main banks.

Lifestyle and Technology

Why you don’t need a mortgage broker near you

In this ever-changing crazy quagmire of a world, there has never been a greater need for seamless online services. Fortunately, Squirrel is well set up to provide the same service for all our clients, whether you're stuck at home, or at the beach.

Lifestyle and Technology

How to manage your mortgage through the coronavirus crisis

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.

Financial planning

How to pay off your mortgage faster

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.