Buying a first home is an exciting milestone, but it comes with the challenge of saving up for a deposit. In New Zealand's dynamic property market, saving a big enough deposit can make all the difference when it comes to getting a home loan approval...
Maintaining debt at a manageable level is important when applying for home loans NZ, as debt-to-income ratio (DTI) rules on mortgage lending could make it harder for first home buyers and existing homeowners to secure finance. The DTI ratio is used by some lenders to...
When it comes to applying for a mortgage in New Zealand, credit score is one of the most important factors that lenders use to decide whether or not to approve a mortgage application. Determined by credit history, credit score is an indication of how well...
Mortgage refinancing can be a smart financial move for homeowners looking to lower their interest rates, access equity, consolidate debt, or adjust the terms of their home loan. While you may have to jump through a few extra hoops to get mortgage refinancing with bad...
For first home buyers, transitioning from renting to owning a home can feel overwhelming, while getting onto the property ladder in New Zealand is not without its challenges. It’s helpful to know the top reasons to buy a first home instead of continuing to rent,...
As a first home buyer or property investor, choosing between buying a new build and buying an existing property can be a difficult decision. While new build homes promise lower maintenance and improved comfort with benefits like sustainable building materials, better insulation, and eco-friendly heating...
If your mortgage application has been declined and you’re not sure which way to turn, start by understanding the reasons why the bank said no. Whatever’s holding you back, whether it’s bad credit, too much debt, low deposit, or a property that’s unacceptable to the...
Many homeowners only really think about mortgage refinancing when their fixed loan term is coming to an end. But there are a few other instances when mortgage refinancing makes good financial sense. Read on to find out four great reasons to refinance your mortgage. 1. Increase...
Long-established banks are often considered by many Kiwis as the first port of call when it comes to lending. They’re usually seen as having the best home loan features, the most competitive interest rates, and a superior level of service. But there’s another type of...
Many New Zealanders face significant financial strain as record-high inflation and the rising cost of living continues. Add to that increasing interest rates and higher mortgage repayments, and it’s not hard to see why so many homeowners are already struggling to repay the mortgage. For...
