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.
Latest Posts
No reduction of the OCR Despite the diversity of opinions of whether to cut or not to cut the Official Cash Rate to 0.25%, the Reserve Bank unexpectedly held interest…
What is the OCR? The OCR is an interest rate set by the Reserve Bank of New Zealand which defines the wholesale price of borrowed money. This directly affects the…
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…
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…