Source expert help from your local mortgage broker prior to making an offer on any property; your Loan Market mortgage broker has access to every major bank and secure lender in Australia, and can assist you to find an appropriate home loan.
A New Zealand economist says the RBNZ should stop hiking up interest rates, amid evidence that the economic recovery is not as strong as expected.
New Zeland Institute of Economic Research Quarterly Survey of Business Opinion chief economist Shamubeel Eaqub released a report this week revealing a drop in business confidence, from 36 per cent in the March quarter, to 28 per cent in the June quarter.
"It's not quite double-dip recession, more a stumbling recovery," he said.
“But the very weak growth evident in the QSBO showed a far weaker economy than would normally be expected a year into the ...
read more...
Categories: New Zealand. Tags: Interest Rates, New Zealand, Reserve Bank of New Zealand.
Good news for prospective New Zealand home buyers, with the latest Home Affordability Report from Massey University revealing homes are more affordable than they were six years ago.
The national affordability index is currently about the same as it was in 2004, after improving 11.1 per cent over the past year.
There has been a 0.16 per cent decrease in the average monthly mortgage interest rate, but the average weekly wage has gone up by $3.70 in the last quarter.
The increase in affordability has been attributed to a subdued housing market and a slow recovery in the world economy.
Eight regions showed improved ...
read more...
Categories: New Zealand. Tags: Home Loan, Loan Market Group, New Zealand.
House prices could be on the decrease in New Zealand, with the number of properties for sale going up and the demand for properties going down.
QV’s residential property indices for May shows that property values are 5.6 per cent above what they were last year.
The national average sales price for the three months to May went down, from $403,070, compared to the three months to April at $405,235.
Research Director for QV.co.nz, Jonno Ingerson, said the supply and demand balance is very different compared to this time last year.
Where last year consumer confidence was high after the GFC recover, Mr Ingerson ...
read more...
Categories: New Zealand. Tags: Home Loan, Loan Market New Zealand, Mortgages, New Zealand, Property.
New Zealand residents have lost confidence in the housing market, according to a new ASB survey.
The softened confidence is a result of a decrease in activity over the last six months, and the RBNZ hinting at rate rises in the not-too-distant future.
According to the ASB Housing Confidence Survey, a net 59 per cent of respondents expected interest rates to rise in the next 12 months and a net 35 per cent of respondents expect house prices to go up over the same period.
A net 29 per cent of people surveyed thought now was a good time to buy ...
read more...
Categories: New Zealand. Tags: Home Loans, Loan Market New Zealand, New Zealand, Reserve Bank of New Zealand.
First home buyers who qualify for the first home deposit subsidy will not be taxed on the funding, provided they’re a member of the KiwiSaver scheme.
New Zealand Revenue Minister Peter Dunne announced changes to the tax rules this week, meaning the subsidy will be treated as a social assistance suspensory loan.
As per the usual conditions, first home buyers must live in the home for a minimum of six months.
"Changing the tax rules to treat the subsidy as a social assistance suspensory loan will be good news for the recipients of the subsidy when it becomes available ...
read more...
Categories: New Zealand. Tags: First Home Buyers, Home Loan, KiwiSaver, New Zealand.
The latest statistics from QV show property prices are rising in parts of New Zealand, including in the Waikato area.
According to the report, Waipa values increased by 3.9 per cent, Thames Coromandel 0.4 per cent, Hauraki 4.6 per cent, Waikato 3.1 per cent and Matamata Piako 6.1 per cent on prices the same time last year.
Waikato-based mortgage broker, Brett Wood, said the price rises signal a confidence in the economy and housing in New Zealand post-GFC, and that's good news for many.
"For existing property owners, the increase in equity these rising property values bring is invaluable," said Brett.
"It makes ...
read more...
Categories: Mortgage Brokers, New Zealand. Tags: Brett Wood, Equity, Home Loans, Loan Market, New Zealand, Property Prices, Waikato.
Fixed rate home loan interest rates in New Zealand, particularly the longer term 3 and 5 year fixed rates, have been going down recently.
Cuts to fixed rate home loans began coming into force around February, after 12 months without a fall, and are continuing to filter through as lenders make adjustments to their fixed rate home loan pricing.
The news of falling fixed rates is good for New Zealand borrowers, particularly those who are about to come out of a previous fixed term on their home loan.
In the past, New Zealand borrowers have predominantly chosen to utilise fixed ...
read more...
Categories: Finance News, New Zealand. Tags: Fixed Rate Home Loans, Fixed Rates, floating rates, New Zealand.
The median home loan on the Sunshine Coast in 2009 was $309,000, according to figures drawn from Loan Market's Sunshine Coast mortgage brokers.
And our Sunshine Coast mortgage brokers should know - they secured home loan approvals to the value of $155 million during 2009.
The Sunshine Coast has been a particularly popular destination for property buyers in recent years, thanks to the diverse living options available, from beachside to hinterland settings.
And it has proven to be popular also amongst immigrants looking to settle in Australia, especially those from New Zealand and the UK.
But new arrivals to the Sunshine ...
read more...
Categories: Finance News. Tags: Home Loan, Mortgage Broker, New Arrivals, New Zealand, Property, Queensland, Sunshine Coast.
December 18, 2008
Restrictions on lending by New Zealand’s largest banking group may have an upside on broker business, according to Auckland mortgage broker Bruce Patten.
ANZ and sister bank National Bank announced in November they would no longer be taking on new loans where the loan amount exceeded 80% of the property value (LVR).
The banks also tightened a number of other policies, including the restriction of low-doc lending to a maximum of 60% LVR.
According to the New Zealand mortgage magazine, ASB is also understood to have cut back to a maximum LVR of 80% in most cases.
Sovereign, ...
read more...
Categories: Finance News, Media Articles, New Zealand. Tags: Anz, Auckland Mortgage Broker, Low Doc, Lvr, New Zealand, Nz.
