Frequently Asked Questions
Buying your home can be a daunting task so we aim to make getting finance as easy as possible for you. We have got some of the most frequently asked questions below, so have a read and please get in touch if your question is not here, or you would like to talk to us personally.
Why don’t I go straight to my bank?
Your bank can only provide details of their own products and services. We can see what your bank is offering to other customers and can provide a range of banks and lenders with just one set of application forms. We are not a 9-5, Monday to Friday service, we work for you 7-days a week and ongoing after you draw down your loan. So talk to us first for a far higher level of service than going direct to your bank.
Do you favour any particular banks or lenders?
No we don’t. We give you fair and impartial advice based on your personal situation. We have to adhere to strict guidelines set down by the Financial Markets Authority to ensure we put your needs first.
Will you come to us?
As there is a big demand for our service, we are unable to provide a mobile service at this stage as we are more effective being based in the office. We can see you during work ours at our Wellington office on week days or we are available 7 days by phone and email. Skype and Facetime is also an option.
I need to act quickly or am not available to see you, can you still help me?
Yes we can help you 7-days a week via email, telephone and face-to-face. You can contact us on 0800 000 518 to see how we can help you. We love outside the square situations too!
We live overseas and want to buy property in New Zealand, can you help?
We sure can. We can help you through the entire process of finding a home, getting finance and then purchasing your new home. We can put you in touch with other professionals, such as lawyers, that can help you to buy your new home.
The bank said no, can you still help?
It’s highly likely your bank just doesn’t understand your personal circumstances or the complexity of what you are trying to do. So let us talk to them on your behalf and look at the other options including preparing your application in a way that will help your approval chances. We have a great strike rate of getting approvals and often it’s how something is prepared, or the sending of your application to the right lender.
I am self-employed and my financials are not up to date, can you still help?
We are self-employed ourselves and understand the challenges of getting a home loan when your affairs are set up to minimise tax, or you don’t have up-to-date financials. We can talk you through the options that will help.
What are your rates?
Being brokers and advisers, we do not set the rates. The bank or lender does. We will always negotiate the best rate possible with the bank or lender. We see rates on a daily basis that are not advertised. Banks also have ‘gimmick’ employee packages which may not actually be the best deal for your situation. For example, a bank with a company employee discount off a floating rate of .50%, however their standard floating rate is .50% higher than the other banks! We cut through the sales gimmicks to give you unbiased advice and the best possible deals for your situation. Often we can negotiate better than ‘package’ discounts including Government.
For outside the square lending for adverse credit and low/no doc the lender might charge a premium on the interest rate to account for the risk.
How do you get paid? Do you charge a fee?
For most of our day-to-day business the insurers, banks and lenders pay us a commission/brokerage when you draw down a loan or take out a policy. So usually our service is paid for by the lender/insurer. The banks/lenders/insurers pay us a commission because we are a cost-effective way of introducing business to them, and we do all of the initial work of introducing you to them.
There are rare times we do charge a fee; this may be to cover work done whereby we do not get paid a commission by the lender. Fees are always agreed upfront, if charged at all. Situations that may incur a fee are:
- A bit outside the square such as bridging finance (sometimes) and asset lends
- A lender that doesn’t pay us brokerage and where we used as your situation as ‘outside the square’
- Commercial finance, sometimes personal loans
- Caveat loans, development finance, business lending
We would always discuss any fee upfront and payment is often made when a loan is drawn down, unless otherwise stated.