Home Loans - June 7th What is the Average Home Loan in New Zealand? Over the past few years, the mortgage and housing markets in NZ have been on a wild ride. As the Official Cash Rate was slashed to a record low of 0.25%, mortgage interest rates slumped. …
Home Loans - June 5th Low Deposit Home Loan: What are Low Equity Premiums? Recent rule changes around mortgage lending to borrowers with small deposits means it's easier to secure a low deposit loan. However, if you've only got a small deposit, it's likely you'll have to pay more …
First Home Buyers - June 4th What is a Loan-to-value Ratio (LVR)? Loan-t0-value ratios (LVRs) were first introduced in 2013 in an attempt to cool the overheated property market. Over the years, they've been amended a few times. They were removed entirely in response to the economic impact …
First Home Buyers - June 4th What Are Debt-to-income (DTI) Ratios? In an attempt to further strengthen financial stability in New Zealand, the Reserve Bank of New Zealand (RBNZ) has introduced new debt-to-income (DTI) restrictions on banks' mortgage lending. But what are DTI ratios and how will …
First Home Buyers - May 24th How to Buy a House with a Small Deposit It’s been a tough few years for first home buyers (FHBs). First, house prices soared, due to pandemic-induced low interest rates. Then, as a consequence of rising inflation, mortgage rates more than doubled. In August 2021, …
Home Loans - May 24th Can You Buy a House With No Deposit? Can you get a home loan with no deposit? You want the good news, or the bad news? The good news is, yes, you probably can. However, now for the bad news! For a lender …
First Home Buyers - May 23rd What was the Kāinga Ora First Home Grant? As of May 22, 2024, Kāinga Ora stopped accepting applications for its First Home Grant. However, while the cash grant is no longer available, Kāinga Ora is still running its First Home Loan scheme, which …
First Home Buyers - May 23rd What is the First Home Loan? It's always been tough to save a deposit to buy a first home. However, there is some assistance available for first home buyers. And one option is the First Home Loan from Kāinga Ora. So …
First Home Buyers - May 23rd What is a Mortgagee Sale? What is a mortgagee sale? People often use the terms "home loans" and "mortgages" interchangeably, but there's a subtle difference. A mortgage is essentially a guarantee on a property. When a bank lends money, it requires …
First Home Buyers - May 23rd Help for First Home Buyers: What’s on Offer? First home buyers (FHBs) have got it tough. House prices remain sky-high, but all is not lost. There is some assistance available to FHBs. Canstar explores the First Home Loan and incentives on offer in NZ. Help …
