First home, replacement home, new build or investment property, Financial Service Providers NZ Ltd offers clear advice on mortgages for every step of the property buying process
No one loves having a mortgage, but everyone loves owning their own home. The key is to find the mortgage arrangement and lender that works best for you - and that's where Financial Service Providers NZ Ltd can help.
There are plenty of lenders operating in New Zealand - both big banks and non bank lenders, so there is plenty of choice. Financial Service Providers NZ Ltd can help you assess your current financial situation and suggest a suitable mortgage structure - be that fixed or variable rates. We are not tied to any particular lender so you get a wider choice, or we can work with your preferred lender, and you'll be benefiting from talking to a financial advisor with years of experience.
See why our clients think we are the best mortgage broker in the business and then, for advice on the best move for your mortgage, contact us to arrange a meeting. We'll meet for an in-depth chat about your finances which can also include advice on planning for the future with retirement planning guidance and how your mortgage will be part of that.
Options for first home buyers including KiwiSaver withdrawals
Buying your first home can be daunting especially when property prices are so high. If you are needing a mortgage, talking to a professional advisor can make the process easier and less daunting. There are several options that might be open to you when you are buying your first home including:
KiwiSaver: If you have been in the KiwiSaver scheme for at least three years you may be able to withdraw some early to help finance your new home.
First Home Grant: If you have been a KiwiSaver member for at least three years you may be eligible for a First Home Grant of up to $10,000.
First Home Loan: You may be eligible for a First Home Loan which reduces the amount you will need to put down as a deposit to 5%.
If you are building a new home it can be trickier to get finance from your bank. Loan and lending criteria can be quite complex so it pays to talk to a broker early on. And, if you are building on spec, or managing your own build it may be even more difficult to get a loan with a greater deposit required from you.
We suggest discussing your options with us before approaching a builder so you know exactly what you can afford before plans are drawn up.
If you are thinking about property investment, it is important to get your strategy and long-term goals in place first. Think about whether you are looking for the best immediate return on investment - potentially a cheaper house in more affordable area where you can maximise rent, or you are looking for a property that will build equity for when you come to resell.
Whatever property you invest in, you need to treat your investment like a business, even if you are a mum and dad investor with just one property. Make sure you understand all the commitments involved such as insurance or property management fees and have a plan to pay off the mortgage as soon as possible so you can maximise your returns. Remember that your rental income may not cover all your expenses so you may need to also invest your own money.
We have investigated this process so much that we have even cowritten a book about it with Mike Pero.
If your fixed term mortgage is coming up for renewal, it's a great time to think about your overall financial situation and the next move for your mortgage. That might be re-fixing at a new rate or re-financing with a new lender.
While in the past we have promoted getting mortgage free faster, with the current low interest rates and better investment returns we are suggesting some clients extend their mortgage term and instead invest the money they would have otherwise used to reduce their mortgage.
Make arranging your mortgage stress-free with home lending advice from an expert broker and former banker
- Get access to a wider range of lenders and potentially better deals than off-the-shelf mortgages
- Clear explanations of the best mortgage structure and interest rate options for you
- See how your mortgage fits in your overall financial plan with our expert advice
Financial Service Providers NZ Ltd is based in Christchurch and works with clients throughout New Zealand and internationally