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Mortgage More Than 4%??

You Need to
talk to us

Got an
unexpected
Tax Bill?

Has the bank
said No?

Bad Credit?

Thinking about building your home?

Getting a mortgage doesn’t
have to be stressful!

Thinking about building your home?

Getting a mortgage
doesn’t have to be
stressful!

Get The Best Mortgage Rates and Friendly Expert Advice, All in One Place

Whether you’re looking to buy your first home, already have a mortgage, or are looking to invest, we’re here to help you through the sometimes quite daunting process of getting a mortgage or refinancing.

We make sure everything is set up correctly, help satisfy the bank’s conditions, and work tirelessly to get you the best mortgage rates and conditions… nothing goes in the too hard basket, that’s a promise!

And the best part? All this at absolutely no cost to you!

That’s right, we don’t charge you for our services, so get in touch and find out how we can save you time, hassle, disappointment and money, while making your house purchase a smooth and seamless process.

The 5 Steps To Getting A Mortgage

We’ll meet and discuss your needs

We’ll go and get approval from the best bank for you

Pre-approval!

We’ll negotiate interest rates and meet to talk about how you’d like to structure your mortgage

You’ve got yourself a house!

Our Services

Need a competent and reliable Mortgage Broker? We’ve got you covered!

worth of mortgages written

(based on expected mortgage volume in 2020)

Let us take the stress out of your next property purchase

You’re so close, you’ve been scouting the property market for months, you’ve been to countless open homes and talked to seemingly every agent in town and now you’re ready, you’ve found it… the one! Your dream home or investment opportunity!

Unfortunately, now comes the hard bit… getting it over the line. You need to tick many boxes and finance approval is one of the big ones.

Our mortgage brokers make sure you get the best deal, minus the hassle

We will walk you through the process of buying your first (or next) property, making sure to provide you with crucial information every step of the way, pulling out all the stops to get you over the line in time so that you don’t miss out on your dream home or investment opportunity.

FAQs

A pre-approval is an offer (typically known as a Letter of Offer of Finance) from a bank or lending institution that indicates the maximum they are willing to lend. The document may have a list of conditions to still be met by the client. This is known as a Conditional Letter of Offer. A document with no conditions is known as an Unconditional Letter of Offer.

Category: Home - FAQ

Mortgage Brokers are generally a free service but there will be a couple of unavoidable costs there. These may include:

  • A Registered Valuation ($800 – $1,200)
  • Solicitor Costs ($800 – $1,500)
  • LIM report ($150 – $400)
  • Builder’s Report ($100 – $500)
  • Weather Tightness Report for Monoclad houses ($300 – $1,000)
  • Finance fee for non-bank lending (~1%)

Prices can vary. Always request a quote before ordering a report.

Category: Home - FAQ

We are always looking for amazing people to join our team. To become a great Mortgage Broker, you need to enjoy working people and helping them through a (sometimes) stressful time.

To become a Mortgage Lab Adviser, you will need to demonstrate a good level of understanding of the mortgage market and an unrelenting willingness to put your clients first.

To find out more, head on over to our Careers page.

Category: Home - FAQ

We have Mortgage Advisers Whangarei, Auckland-wide, Tauranga, Hawkes Bay, Palmerston North, Wellington, and Christchurch.  Note that mortgage applications can be done remotely for most banks so you don’t need to be in the same city as your broker. See the full list of Brokers here.

Category: Home - FAQ

The banks typically say 5 working days.  Sometimes it can be as low as 2 days or sometimes it can be slightly longer.  If your application is urgent, let us know as soon as possible and we will mark it as urgent.

Category: Home - FAQ

You have to insure the houses that the bank has as security. However, the bank cannot force you to take any other form of insurance with them. We recommend getting independent advice on both insurance on your house and personal health insurance.

Category: Home - FAQ

Nope. Is that weird to admit? Bottom line is, you’ll get the same interest rates as us if you’re a good negotiator or if you’re especially charming to the branch teller.

So you’ve got those rates. Now which one are you going to choose? 1 year? 5 years? Interest Only? Partly Revolving? Should you take those bonuses they’re offering? Is it worthwhile bothering your Accountant?

We go over all of this for free and you don’t even need to go into a branch. And you’ve got our DDI if you have additional questions.

Category: Home - FAQ

This is called “shopping the deal” and it appeals to a certain type of customer but the short answer is… no.  We won’t shop the deal the majority of the time.

Each bank runs a Credit Check on you when they approve an application and the other banks can see this. This not only lowers your Credit Score (which is not great) but when the bank comes to offer you interest rates, they are not going to bother fighting for a good deal because you are clearly looking at other competitors.

This is counter-intuitive to what you might think. Often people think that banks realise they’re in competition and sharpen their pencils. Branch staff will tell you that competition is healthy, but trust us, the internal staff respond much better to loyal customers.

Category: Home - FAQ

As above, sometimes a bank just isn’t looking for you as a client. In this instance, they can either decline you or make the terms of your lending so ridiculous that you either accept (sucker!) or you go away. We know what banks have an appetite for and send you to the right bank without you shopping around banks.

Category: Home - FAQ

The banks pay The Mortgage Lab to find and prepare the entire application for them. This means they need less people in the branch which is much cheaper for them.

Additionally, the bank can control the type of business they receive. A bank might call The Mortgage Lab and say, “we don’t want high risk clients this month but we do want business owners”. And immediately, they will begin to receive those kind of clients from us. In a branch, the banks are forced to accept whatever client walks through the door.

Category: Home - FAQ

For almost all our clients, there is no charge at The Mortgage Lab. We work with the banks and they pay us. The only time you’ll pay a fee is if we have to involve a non-bank finance company. You’ll always be made aware of these fees long before they are locked in.

Category: Home - FAQ

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In This Book You’ll Learn:

The Investment basics every property investor needs to know

How to easily calculate the most important numbers in your head

Who you need in your investment team

What you’ll need to get a mortgage

Check Out Our Podcast

Articles

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    Read More

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    Read More

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    Read More

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    Whenever you’re dealing with complex numbers, it helps to have a few tricks to make quick calculations easy.  So here’s an easy way to calculate how long an investment will…

    Read More

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    Read More

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    A common phrase in mortgage world is the “one bank trap”. It’s when you have all your lending with one bank which gives the policy makers at the bank all…

    Read More

  • The Bank Said No Credit Hurdle

    It happens to almost everyone eventually.  You walk into the bank, ask for an amount of money, either to buy a car, house or business and the bank declines you. …

    Read More

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    It happens to almost everyone eventually.  You walk into the bank, ask for an amount of money, either to buy a car, house or business and the bank declines you. …

    Read More

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  • For the past 12 years, interest rates (both mortgage and the Official Cash Rate) have been decreasing.  That means that almost everyone who has fixed their mortgage at some point…

    Read More

  • Preparing For Your Mortgage - Documentation

    Getting a mortgage can be stressful and a lot of that stress is caused by waiting for the bank to make their offer. You can significantly reduce wait time by…

    Read More

  • Interest Only

    In recent years, the Reserve Bank has been working on reducing the amount of Interest Only mortgages in New Zealand. In the article below, we look at how it affects…

    Read More

  • Yield

    When you’re looking for an investment property, you are often either looking for capital growth or yield (ideally a positive cash return).  There’s a quick and easy trick that we,…

    Read More

  • A lot of the nerves that first home buyers feel when they decide to buy is around the mortgage.  When the maximum loan you’ve ever applied for is a $2,000…

    Read More

  • For the past 12 years, interest rates (both mortgage and the Official Cash Rate) have been decreasing.  That means that almost everyone who has fixed their mortgage at some point…

    Read More

  • When to get your Accounts done

    If you happen to be a salary earner, proving your income is relatively easy.  As long as your Employer issues decent quality Payslips, you can provide the 3 most recent…

    Read More

  • The banks are currently overwhelmed by hardship applications as a result of the Level 4 lockdown for Covid-19.  In this article we look at what your options are and why…

    Read More

  • Article current as of 1st April 2020 (no April Fools jokes are contained – all information accurate) With the recent announcements with bank relief packages and mortgage holidays, we are…

    Read More

  • Banks are businesses and their goal is to make money and become the leading brand in the industry. This is the same goal as most other businesses and their reputation…

    Read More

  • We are entering an unprecedented time.  The Reserve Bank has announced an Official Cash Rate drop of 0.75% leaving the cash rate at a historic low of 0.25%.  Most economists…

    Read More

  • First home buyers are often nervous about the size of their Student Loan and how it will affect their chance of getting a mortgage.  But how much does it really…

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  • Credit Card, Bad debt

    Kiwis like Credit Cards… a lot.  If you’ve got 10 minutes, you could get one online right now (don’t).  And the price for easily-acquired, unsecured debt is usually ~20% p.a.…

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  • What does LVR mean?

    Think of the Loan to Value Ratio (LVR) like this:  What percentage of the house is covered by the mortgage…  Or, in other words, what percentage of the house does…

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  • First Home Grants and KiwiSaver

    First home buyers can often get tangled up in the pile of new concepts to learn.  In this article, we explore the basics of withdrawing your KiwiSaver and meeting the…

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  • 3 Thinks you can do to get ready for a mortgage

    Order your Credit Report It’s free to order your own Credit Report and is a great insight into what the bank will know about you. See what loans are recorded…

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  • Paying Down Your Mortgage or Savings Into KiwiSaver

    It’s a question we get asked a lot. If we have an extra amount of money in our salary, should we use the money to pay down our mortgage or…

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  • How to purchase an apartment

    Apartments are a very tempting purchase, especially for first-home buyers.  They tend to be lower cost and therefore much more within reach.  But there are a few things to be…

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  • 6 Tips for bidding at auction

    Auctions can be a little bit overwhelming.  They’re meant to be.  It’s why they result in higher prices for the Vendors.  To help ease the stress, here are 6 quick…

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  • Fixing your mortgage

    About 5 years ago, 80% of all mortgages were sitting on a floating rate. And with good reason. The interest rates were falling off a cliff. In a couple of…

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  • Preparing For Your Mortgage - Documentation

    Getting a mortgage can be stressful and a lot of that stress is caused by waiting for the bank to make their offer. You can significantly reduce wait time by…

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  • Letter of Offer

    Good news! You’ve completed your application, handed over a mountain of paperwork (just kidding, our system is paperless) and now you’re pre-approved for your mortgage! After a phone call from…

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  • Investment Property

    So you’ve decided to purchase an investment property, here are first 3 things you can do to get the ball rolling.

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  • financial stability report, RBNZ, LVR, Economy

    The Reserve Bank of New Zealand has released it’s 6 monthly Financial Stability Report. Previous Financial Stability Report Almost exactly one year ago, on the 29th November 2017, the RBNZ announced…

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  • Tender

    Recently we looked at some tips for bidding at an auction.  But what if the house you love is for sale by tender?  Tenders are much less time-pressured than auctions…

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  • property expert

    Surrounding yourself with property experts is not just a good idea; it’s absolutely necessary. And while it sounds expensive, you don’t have to go full-Thomas-Crown to get the advice you…

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  • one bank trap

    A common phrase in mortgage world is the “one bank trap”. It’s when you have all your lending with one bank which gives the policy makers at the bank all…

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  • The Bank Said No Credit Hurdle

    It happens to almost everyone eventually.  You walk into the bank, ask for an amount of money, either to buy a car, house or business and the bank declines you. …

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  • income

    It happens to almost everyone eventually.  You walk into the bank, ask for an amount of money, either to buy a car, house or business and the bank declines you. …

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  • equity

    It happens to almost everyone eventually.  You walk into the bank, ask for an amount of money, either to buy a car, house or business and the bank declines you. …

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  • What is a reverse mortgage?

    Retirees often find themselves in a difficult financial position.  Short on income but lots of equity, usually stored in their homes.  A typical mortgage top-up won’t work in this scenario. …

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  • Bad debt

    You may have heard the term “bad debt”. But what is it? Is all debt bad? Can bad debt become good debt? Order your bad debts In “The Successful First…

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  • app of the month - mortgage calculator

    We are very proud to announce the release of our Mortgage Lab Calculator on the iPhone App Store! With the focus on being simple to use, it has everything you…

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  • Your mortgage rate is 8%

    Repeat after me.“The interest rate I pay on my mortgage is 8%…”“The interest rate I pay on my mortgage is 8%…” No it’s not You’re right, it probably isn’t.  If…

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  • what does a million dollars buy you in the major cities

    Maybe you’re in Auckland with your deposit ready to go for a house.  Or maybe you’re looking to purchase your next investment property.  For fun, we scoped out TradeMe to…

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  • What is Price By Negotiation?

    Until recently, selling a house by Auction has been the most popular method of selling in Auckland.  It takes advantage of the excitement in the market and pits buyers directly…

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  • All About Conveyancing

    When you’re buying a house, there are a lot of things to think about.  One of the steps that is often a mystery for our clients is conveyancing; ie; what…

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  • Ready To Buy: 3 Things First Home Buyers Can Do Today

    Purchasing your first home can be confusing.  The key to being ready to buy is to be organised.  Here are 3 things that first home buyers can do today to…

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  • Calculating The Interest On Your Progress-Payment Construction

    Calculating the amount of interest expected in a progress-payment contract on a newly built house can sometimes seem daunting.  In this article, we walk you through some easy calculations. Recently…

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