A guide to why, when, and how to refinance your mortgage

Change is constant. When you set up your mortgage originally, the interest rates were applicable to the housing market at the time. Likewise, the size and term of your mortgage was appropriate to your income and outgoings at that time. You had a new home, lots of set-up costs and were just finding your feet […]

New rules for first home owner support

In Budget 2022, the government eased some of the criteria for the First Home Grant, First Home Loan and Kāinga Whenua schemes administered by Kāinga Ora. The changes were made to help more first home buyers (existing or new-build) by better reflecting market prices for homes in some areas, as well as the needs of […]

How parents can help their children buy a home

With house prices accelerating in recent years and deposits outpacing first home owners’ best efforts to save, parents are now helping their children into a first home more than ever before. While parents and their children might prefer to remain independent, for many it’s the only way to secure home ownership. So here’s an overview […]

How much income should go to my mortgage?

Whether you’re a first home buyer, looking for your next place or building a home, one of the most important rules is to know what you can realistically afford. And what you can afford isn’t the same as what you could pay if you really squeeze every last drop out of your income. It means […]

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 move your mortgage to another bank or lender

Moving from one mortgage provider to another involves applying for and getting a new loan, then using that loan to repay your old one, so it can be discharged. People switch lenders a lot more often these days, whether they’re buying a new home or refinancing an existing property. If you think your current mortgage […]