What is a revolving credit?

By WMB Admin In blog No comments

As part of numerous measures to curb access to credit, the banks have started to restrict the availability of revolving credits—mainly around the size of accessible limits, and linked to the LVR (loan to value ratio). What is a revolving credit? (also known as a flexi facility) A revolving credit is like an overdraft or […]

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No change to Official Cash Rate

By WMB Admin In blog No comments

Today the Reserve Bank has again left the Official Cash Rate (OCR) unchanged at 1.75 percent, but suggests that the slowdown in house price inflation could be temporary. Reserve Bank Governor Graeme Wheeler says that global economic growth has increased and become more broad-based. However, major challenges remain with ongoing surplus capacity and extensive political […]

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Can you pay your mortgage off quicker?

By WMB Admin In blog No comments

Well the year is nearly half gone and it’s anyone’s guess where interest rates and property prices will head this year. But I think it’s expected both will rise a little. Are you prepared for a future increase in interest rates? Have you made the most of recent low interest rates to pay more principal […]

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Government Housing Affordability Measure study

By WMB Admin In blog No comments

Interesting article in the Herald recently about the Government Housing Affordability Measure (HAM) study saying that renting is cheaper than owning. There are so many variables to this study which uses average data to come up with results. Everyone’s case is different, and of course somewhere like Auckland it’s extremely difficult to buy a house. […]

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Official Cash Rate held again

By WMB Admin In blog No comments

The Reserve Bank has left the Official Cash Rate (OCR) unchanged today at 1.75 percent. Governor Graham Wheeler said “Monetary policy will remain accommodative for a considerable period. Numerous uncertainties remain and policy may need to adjust accordingly”. ASB chief economist Nick Tuffley said there was little change to Wheeler’s stance from February. “We had […]

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Take Care When Making Offers

By WMB Admin In blog No comments

In a hot property market it’s easy to get carried away in the moment and be in a hurry to make cash unconditional offers. Every month or two we get asked to help people out of a tricky situation where they have placed an unconditional offer just based on a verbal “approval” from the bank. […]

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Reserve Bank Requesting Debt to Income Tools be Made Available

By WMB Admin In blog No comments

The Reserve Bank has now officially asked the Government if it can have Debt to Income (DTI) tools available to use incase of further housing market instability. Whilst it doesn’t plan to use them, it plans to keep them up it’s sleeve for possible future use. The October 1 restrictions appear to have had some […]

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Now is the time to have a Broker on your side!

By WMB Admin In blog No comments

Its been a challenging time of late with the Reserve Bank restrictions turning the lending world for investors upside down. Its also put a little more of a squeeze on first home buyers as well. What makes it even more challenging is that each bank has their own restrictions/criteria change they have imposed. For example […]

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KiwiSaver & Housing NZ HomeStart Subsidy Thresholds Increased

By WMB Admin In blog No comments

As of the 1st of August those looking to use KiwiSaver & Housing NZ HomeStart Subsidy will find some relief in seeing the house price caps and income thresholds increase. The changes will see the house price caps increase, with existing properties increasing by $50,000, while if you are building your cap will increase by […]

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