The Official Cash Rate (OCR) Explained
Date Published: 2 April 2024
As of 2nd April 2024, the Official Cash Rate (OCR) for New Zealand is set at 5.5%. What is the Official Cash Rate? The Official Cash Rate (OCR) is an…
Pay Down Your Mortgage Or Save Into Your KiwiSaver?
Date Published: 27 March 2024
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…
4 tips to making an offer by Tender
Date Published: 10 January 2024
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…
Purchasing at Auction – A Step by Step Guide
Date Published: 9 January 2024
Buying at auction can be exciting but also intimidating. Much like your year 5 school production, knowing what to do and when to do it will help you feel more…
The worst financial decision you can make
Date Published: 7 January 2024
Saving is a long, slow process. That’s why so many of us are so bad at it. You could put $20 aside every week and after a year, you’ll have…
Fixing or Refixing Your Mortgage: Three Questions to Ask
Date Published: 2 November 2023
Fixing/refixing your mortgage isn’t as exciting as buying a new house. Or, for that matter, as exciting as getting a pizza coupon in the mail. But gives you a valuable…
Budgeting with PocketSmith
Date Published: 28 April 2023
If you’ve ever watched one of the Mortgage Lab’s webinars or Facebook livestreams, you will most likely have heard us rave about this app. It’s one of our favourites –…
Should You Refinance to Another Bank to Get a Better Interest Rate?
Date Published: 27 April 2023
You’ve got a fixed-term account maturing soon and the bank or your broker has sent you some interest rates. Maybe your current bank is offering 0.1% higher than another bank…
Is it Worth Getting a Flatmate to Help Pay My Mortgage?
Date Published: 27 April 2023
Getting a flatmate to help pay the mortgage is a big decision. You have to share your home, and you wanted to keep a spare room for guests. But look…
The Bank Said No Because of My Income
Date Published: 3 April 2023
It happens to almost everyone eventually. You walk into the bank, and ask for an amount of money, either to buy a car, house, or business and the bank declines you. Today…
The Bank Declined My Investment Property Mortgage Application – Equity Hurdle
Date Published: 1 April 2023
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. We look…
6 Tips for Bidding at Auction
Date Published: 17 March 2023
Auctions can be an exciting and competitive way to purchase a property. However, the auction process can also be intimidating and stressful for unprepared people. To increase your chances of…
NZ Mortgage Interest Rates Prediction 2023
Date Published: 16 November 2022
It’s the time of the year when the Mortgage Lab buffs up our Crystal Ball, gazes into the infinitely complicated world of economics, and comes up with sufficiently generic interest…
Getting a Divorce and a Mortgage – Here’s What to Know
Date Published: 16 October 2022
Divorce is usually an incredibly stressful, time consuming and brain draining process. Conversations over dividing the kitchenware can be as tense as a peace treaty negotiation – yes, who gets…
Can I Buy an Investment Property?
Date Published: 1 August 2022
Our childhoods have betrayed us. Property investment is not as easy as rolling a four to land on Mayfair, paying ￡400 then sitting back to wait for someone to land…
What is a Reverse Mortgage?
Date Published: 18 June 2022
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. …
Cost Fluctuations in Build Contracts – Guest Blog
Date Published: 10 June 2022
Just a couple of years ago, the use of the words “cost fluctuation” in the residential building industry was about as common as the use of the word “liquefaction” prior…
Prepare, Don’t Panic – 3 things to do right now to prepare for a recession (and 1 thing you shouldn’t)
Date Published: 9 June 2022
We are entering an unprecedented time. The Reserve Bank has announced an Official Cash Rate increase from the historic low of 0.25% up to 2%. Some economists expect a recession…