Current NZ Mortgage Rates
Date Published: 12 December 2024
Click here to find the latest NZ Interest Rates for major banks. Info for current home owners and new buyers.
What Your Mortgage Application and Tinder Profile Have in Common
Date Published: 21 July 2024
Applying for a mortgage is much like creating a Tinder profile. You want to make your mortgage application as attractive as possible to get a bank to “swipe right”. Banks…
NZ House Prices Drop for Second Consecutive Month as Sellers Adjust Expectations
Date Published: 20 June 2024
Key Facts House prices declined for the second consecutive month in May. National median house price dropped to $770,000 in May. House prices fell by 2.9% nationally over the last…
Affordability Improves as Auckland Sees Spike in Budget-Friendly Townhouse Listings
Date Published: 7 June 2024
Key Facts Ōtara townhouse listed for $539,000, described as “cheap as chips”. Auckland house prices have slowed down for the second month according to CoreLogic data. Some townhouses are in…
Can I Buy A Home With Friends
Date Published: 4 June 2024
While house prices have eased, getting the deposit together for a first home is still a big ask. Kiwis are asking whether it is worth buying with friends instead of…
Mortgage Deposit: Can I take out a loan to increase my deposit?
Date Published: 4 June 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…
Deposits: How much do you need to buy your first home?
Date Published: 4 June 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…
Nationwide Property Values Rise, But First-Home Buyers Still Have an Edge
Date Published: 4 June 2024
Key Facts New Zealand’s average property value increased by 3.33% year-on-year to $975,000. In the last three months, property values dipped 0.2% nationally. Property values decreased quarter-on-quarter in Auckland, Bay…
Rising Personal Debt Forcing Most Families Out of Rent-to-Own Housing Schemes
Date Published: 29 May 2024
Key Facts Increasing levels of personal debt are barring people from rent-to-own housing schemes like those offered by Habitat for Humanity. Habitat for Humanity’s affordable housing schemes do not require…
Banks Increase Lending to First Home Buyers with Low Deposits Despite Risks
Date Published: 28 May 2024
Key Facts Banks are lending more to first home buyers with less than a 20% deposit. Average mortgage for first home buyers with at least a 20% deposit in April:…
Debt-to-Income Restrictions Set to Tighten Mortgage Access for Borrowers and Investors
Date Published: 28 May 2024
Key Facts Debt to income restrictions may make it more challenging for some people to qualify for a mortgage. CoreLogic’s report indicates first-time buyers with the ability to service a…
Mortgage Brokers Stunned as Government Cancels First Home Grant: Impact on Buyers
Date Published: 24 May 2024
Key Facts The New Zealand government has eliminated the First Home Grant, surprising most prospective homeowners. Mortgage brokers are now facing a rise in customer inquisitions following this unexpected development.…
Government Ends First Home Grant Scheme Amid Calls for More Housing Solutions
Date Published: 23 May 2024
Key Facts Government is scrapping the first home grant scheme. Kāinga Ora will no longer accept new applications for the grant. First home loan scheme will remain, allowing purchases with…
Small NZ Bank Offers Lowest One-Year Mortgage Rate, But Optimal Conditions Apply
Date Published: 21 May 2024
Key Facts SBS Bank has cut its one-year interest rate for first-time home buyers to 6.14%, which is at least 1% lower than other banks’ current rates. This rate is…
Flatmates and Your Mortgage
Date Published: 16 May 2024
So you’re looking to purchase. Could a flatmate help you purchase a more expensive house? Will a bank take that extra income into account? How much interest will flatmate income…
First-Time Home Buyers in New Zealand Finding More Value for Their Money
Date Published: 13 May 2024
Key Facts First home buyers in New Zealand are currently gaining more for their money due to real estate trends. Property experts attribute this shift to lower deposit rates and…
Rental Shortage Boosts First-Home Buyers: A Peek at the Current NZ Housing Market conditions
Date Published: 12 May 2024
Key Facts New Zealand’s housing market is currently in a buoyant phase, causing issues for first-home buyers. Increasing house prices have created a rental shortage, with first-home buyers often getting…
First Home Buyers Capitalise on Lower Property Prices and Reduced Competition in Q1 2024
Date Published: 8 May 2024
Key Facts First home buyers accounted for 26% of property purchases in the first quarter of 2024, which is higher than the long-term average of 21%. Buyers are taking advantage…