Interest Rate Update

By WMB Admin In Uncategorized No comments

Major banks short-term rates have been quite low recently and it can be easy to get swayed by what appears to be cheap rates e.g. 4.35% 1-year specials. It’s not unusual for banks to be aggressive on rates at busy house buying seasons. Even HSBC specials well below market come with conditions hidden in the […]

Read more

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 […]

Read more

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 […]

Read more

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. […]

Read more

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 […]

Read more