The Reserve Bank decision to hold the OCR at 1 percent has come as a surprise, as all the major banks were expecting a drop of 0.25 basis points. Even Westpac economists had reversed their earlier forecast, which was in contrast with their rival commentators. After a surprise cut in August of 0.50 percent, and […]

Have you seen your home equity grow over the last year or so? With property values increasing significantly and record low mortgage interest rates, now could be an ideal time to use your increased equity to buy a rental property. We often see customers who are in a position to invest in their first rental, […]

Looking to buy your first home? With lending criteria becoming increasingly stringent, it’s important to make your home loan application as competitive as possible. Having the least amount of debt possible is a way to increase your borrowing capacity. But when you’re also saving for a deposit at the same time, paying off your debt […]

Contemplating the purchase of a new house can be an exciting time. You consider where you might want to live, what kind of house you want, which features are must-haves and which are a little further down the priority list. But if you’re in the market for a new home, should you buy an existing […]

The current housing market and lending restrictions can make it very difficult to purchase a house on your own, particularly if you’re not a high income earner. A more affordable option can be to purchase as a couple or even with friends or family. If this is an option for you, there are some key […]

One of our most typical questions we get asked is “I want to buy my first home but don’t know where to begin”. It is a complex lending world, which is where our help comes in at Wellington Mortgage Brokers! The first thing we do is have a quick phone chat and with a few […]

The OCR has been slashed by 50 basis points today to a record low of 1%. The Reserve Bank has gone a step further than anticipated, with speculators estimating the new rate would be 1.25%. It was agreed by the bank’s Monetary Policy Committee that a lower OCR is necessary to continue to meet employment […]

Also known as second-tier lenders or non-retail lenders, non-bank lenders fill an important gap in the market. Most of them mainly just deal with mortgage brokers and have gained a larger market share since the banking industry and the Reserve Bank toughened up on lending criteria. The more ‘main stream’ non-bank lenders can still be […]

Embarking on your first home-buying journey is exciting but sometimes the logistics of where to start can be overwhelming. We’ve broken down the key steps you need to think about in your home-buying process. Get clear about your first-home goals — the ideal home is very specific to your personal situation and will be different […]

Last week the Reserve Bank announced the OCR would stay at 1.5 per cent for now but that a further reduction may be required. There continues to be a downside risk with employment and inflation while the global economic outlook remains weak. The bank expects that an increase in government spending and lower interest rates […]