The OCR (Official Cash Rate) remains unchanged and appears it could remain on hold for some time. This is good news for borrowers and probably indicative that 1, 2 and 3 year rates seem to be the most popular.
Now is still a good time to be ensure that you have the best loan structures in place so you can take advantage of low interest rates and pay as much principal as possible.
The banks are still making it hard to borrow money, almost self-regulating (otherwise the RBNZ could enforce new tools) their own serviceability calculators.
Whilst the lending environment is difficult with banks’ increasingly pedantic assessments, a mortgage broker will work hard to come up with solutions and even more importantly prepare your application before it gets seen by the bank and minimise the chance of road blocks. In addition to that, as there is often a ‘case by case’ element of assessments, a broker will work on your behalf pushing the positives to the banks.