Improve your home loan approval chances with these tips

By WMB Admin In Uncategorized No comments

1. Watch your bank statements! Close any accounts you hardly use and make sure you don’t go into unauthorised overdraft. Banks like to see a clean 3-6 month history of tidy accounts where there has been no unauthorised excesses (overdraft), bounced APs/DDs. 2. Speak to your mortgage broker about everything that is required and be […]

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Changes in lending policy for 2018

By WMB Admin In Uncategorized No comments

As we lead into Xmas there are some changes in the lending world to be wary of for January 2018. The Reserve Bank recently relaxed the restrictions slightly, and the major banks have now started making changes to their policy. For stand alone residential investment properties you can now obtain finance with 65% LVR and […]

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Lending restrictions set to ease early 2018

By WMB Admin In Uncategorized No comments

The Reserve Bank has today announced a ‘modest’ easing of Loan to Value Ratio (LVR) restrictions from early 2018. From 1 January, banks will be able to loan up to 15 per cent of their mortgage lending to owner occupiers with a deposit of less than 20 per cent of the value of the property. […]

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How to avoid finance falling over on your property deal

By WMB Admin In Uncategorized No comments

There has been some interesting articles this week relating to property deals (it appears mainly attributed to Auckland) falling over at the last minute due to finance. The articles implied buyers had finance pre-approved, but when it got down to the offer agreement, the banks were pulling out or asking for valuations. In the current […]

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OCR held at 1.75% for fifth time

By WMB Admin In blog No comments

The OCR (Official Cash Rate) remains unchanged again, at 1.75%, for the fifth consecutive review. “Monetary policy will remain accommodative for a considerable period. Numerous uncertainties remain and policy may need to adjust accordingly,” said Reserve Bank Governor Graham Wheeler. “Growth is expected to improve going forward, supported by accommodative monetary policy, strong population growth, […]

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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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