Your next house: New or secondhand?

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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 […]

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Buying a house with a partner, friend or sibling?

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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 […]

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First-home buying—where do I start?

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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 […]

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OCR slashed to 1.0%

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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 […]

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What are non-bank lenders?

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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 […]

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Home buying step-by-step

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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 […]

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Lower interest rates to help lift economy

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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 […]

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OCR cut to all-time low

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The New Zealand dollar took a sharp dive yesterday as the Reserve Bank announced the Official Cash Rate was cut by 0.25 points to 1.5 percent, the lowest it has ever been. This is the first change in the OCR for nearly three years. It has sat at 1.75 percent since September 2016. As indicated […]

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Record first-home buyer numbers in Wellington region

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First-home buyers made up 33% of the Wellington region’s home-buyer market between January and March, and this is the highest proportion since records began in 2005, according to the latest figures from CoreLogic. This recent article from Stuff looks at what’s driving this and where first-home buyers are purchasing, and also talks to Craig Pope […]

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How many days should we have for a finance clause?

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This is always a difficult question. Firstly, consult your mortgage broker as to what is the best plan. Secondly, bank turn around times can dictate this and so can deposit size. Sometimes bank turn around times are slow, for example recently when it was Easter, ANZAC Day and school holidays. In this scenario conditions on […]

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