Category: Blog Posts
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What Is The Definition Of A New Build For Lending Purposes
Most of us probable think we know what a new build is, but do we really know the definition of a new build for lending purposes? It’s a little more complex than what one might think, and the definition of a new build differs depending where you look. The Definition Of A New Build When…
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The Banks Special Deals For New Builds
Some of the major banks have introduced special deals for new builds, but not all. We have a look at what the deals are and review how good they are too. ASB and Sovereign Home Loans introduced a special deals for new builds called “Back my Build” with a low interest rate at 1.79% in…
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Property Investors Now Buying New Builds With Lower Deposits
The Government and Reserve Bank love to blame property investors on the housing crisis and so have implemented higher deposit requirements; however they also know there is a real need for more housing so new builds are not covered by the same rules. When the Government relaxed the LVR rules in 2020 they had not…
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Our Online Buying Guide For The Best Smart Light Bulbs
If you’re thinking about turning your house into a smart home but you don’t know what to start with first, the best smart light bulbs make the transition. All you have to do is replace your conventional bulbs with smart bulbs and then use your tablet, smartphone, or a smart light switch to operate them.…
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BNZ Update The LVR Rules For New Builds
When the Reserve Bank announced that the pending changes to the LVR rules for investors the banks all hastily started re-implementing the LVR criteria restricting investors to a minimum 30% deposit. On the 11th November the Reserve Bank stated that in December, they will consult about re-instating loan-to-value ratio (LVR) restrictions on high-risk lending with…
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Popular Reasons That First Home Buyers Choose New Builds
The real estate market is booming at the moment and that has seen an increase in the number of first home buyers that are choosing new builds. Of course a lot of Kiwis do dream of a brand new home, but often first home buyers are told to start with a run down place. Yes,…
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New Build Homes Are A Popular Option In Hot Markets
As the property market booms people are starting to flock to new build homes. With a new build you can select something that suits your stage in life, is within your price range and it’s going to be new with minimal maintenance. New homes are also generally more efficient to heat and cool which means…
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Will Low Home Loan Rates See More New Homes Purchased?
This week we have seen The Reserve Bank slash the official cash rate (OCR) to ensure the New Zealand public have lower home loan rates and therefore more money in their pockets to spend. Well that’s what they want to happen anyway! But how will Kiwis react? The rates have only just dropped and the…
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Westpac Improve Options For Building Loans
When people think of building loans they often think that all the banks offer the same. Of course they all do have building loans available, but they are not all the same. Westpac Make Improvements To Building Loans As mortgage brokers that specialise in building loans we are always reviewing the banks loans and making…
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Not All Mortgage Brokers Can Offer Both Turn-Key And Progress Payment Options
When you are looking at buying a house and land package you may be offered either a turn-key or a progress payment agreement. Most people like the idea of a turn-key option as it seems more simple. You just pay a deposit to secure the purchase, with the balance being payable upon completion when you…
