Deposits: How much do you need to buy your first home?
Date Published: 19 April 2024
If you have less than 20% deposit, you are referred to (by the banks) as a Low Equity (or Deposit) Borrower. You are required to meet a different set of…
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…
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…
Mortgage Deposit: Can I take out a loan to increase my deposit?
Date Published: 6 January 2024
As you may know from our other blogs, there are some key levels of deposit that you need to get to in order to buy a new home. The main…
5 Things To Know About Your Mortgage Pre-Approval Letter of Offer
Date Published: 4 January 2024
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…
Where Am I Going To Find My Mortgage Deposit?
Date Published: 3 January 2024
One of the simplest ways to grow your deposit is KiwiSaver. Below, we take a quick look at how quickly your deposit could grow and the numbers around this. Let’s…
3 Things You Can Do to Get Ready for Your Mortgage (No Matter When You’re Buying)
Date Published: 2 January 2024
Whether you’re getting serious about buying a house or are thinking you’d like to buy sometime in the future, doing these three things today will help you get ready for…
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…
What does LVR mean?
Date Published: 26 October 2023
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 the bank…
The Mindset You Need to Get into Your First Home
Date Published: 25 October 2023
When you start thinking of owning your first home and considering the steps and challenges involved, it can feel like an impossible goal. There’s no getting around the fact that…
What is Price By Negotiation?
Date Published: 13 July 2023
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…
Small Steps – Credit Report
Date Published: 13 July 2023
In today’s world, having a strong credit report is essential for achieving financial success. Your credit report not only determines your eligibility for loans and credit cards, but it also…
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 –…
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…