What is a mortgage cashback?

For some years now, New Zealand’s main banks and other mortgage lenders have been known to offer a cashback reward to eligible customers when they draw down (start) a new mortgage. It’s typically a lump sum cash payment of $1,000 to $3,000 – or even significantly more, depending on how much you’re borrowing. In this […]

How to get a mortgage when you’re self-employed

Whether you’re a sole trader, a freelancer, in a partnership with someone or a director of a limited company, being your own boss comes with a lot of satisfaction. However, when you want to get a mortgage – for your home or an investment property – mainstream bank lenders will ask you to jump a […]

What happens if a registered valuation isn’t high enough?

Whether you’re buying your first home, next home or an investment property, you might need to get a registered valuation to finalise your home loan. What happens if that valuation isn’t high enough? If you’ve purchased a property at auction and there’s a shortfall between the amount you need to borrow and the amount supported […]

Guide – How to pay off your mortgage faster

When you have a mortgage ticking away with regular repayments happening automatically, it can be easy to simply let things continue as they are. But finding little ways to repay your mortgage faster will have an ever-accelerating effect. Every little extra you pay off will immediately reduce the interest you have to pay each time. […]

Types of mortgages – which one is right for you?

When you’re borrowing to buy a home or an investment property there are several different types of mortgages to choose from. Once you understand how they work, and the pros and cons of each, it’s easier to pick the types that might suit you best. Most people choose a combination of two or more. It can […]

What is an interest-only mortgage?

As its name suggests, an interest-only mortgage means your regular weekly, fortnightly or monthly repayments only include the interest charged. So you don’t repay any of the money you borrowed (known as the principal) until the end. The agreed length, or term, of an interest-only loan is usually a year or two, but it can […]