The Mortgage Man - A podcast for everyone with or wanting a mortgage

Should you buy or build your first home? Before you answer that, it would be important to under the process and costs of building a property. That includes how to finance it from the bank. Because things are a little different. There is more than one option, but usually, it's a turnkey option or a progressive option. If you don't know what those terms mean then you neeeeeed to listen to this podcast. And if you know what those terms mean you should listen to this episode anyway as Steve from Classic Builders, and I cover alot more. Let us know what you think, and if you want to work with Steve his email is stephen.hape@classicbuilders.co.nz

Want to sell your property soon? Is now a good time to sell? How do you get the best price? Is it best to list via auction or negotiation? Completely renovate your house or leave it as is? All these questions are useful, and I didn't know the answers so I decided to ask someone who does know the answers, and the person is Rachael from Harcourts. Have a listen, and let me know what you think.

Open homes are scary - and auctions even more so. What can you do at open homes to give you a bit of an advantage over everyone else? What can you ask, & what are you supposed to look for when going through a stranger's home that you like? In this episode, I pose these questions and many more to Rachael from Harcourts as we discuss the open home process as well as the buying-at-auction process if you really like a home. How do you win the auction and what can you do to increase your chances? Enjoy

Do you need a property accountant? Probably - With guest speaker Anthony Appleton-Tattersall, my accountant. Property tax is becoming alot more complex with all the changes, so whether you think having a property accountant is worthwhile depends on a few things. And in this episode, I speak with my accountant on a few of those topics, including - Capital Gains Tax - Brightline - Trusts (do these really save you tax?) - Interest Deductibility changes And much more.. If you want to reach out to ask Anthony a question his email is anthony@aataccounting.co.nz

Buying a home is a big deal. It's a lot of money, and most of it isn't even yours. So you want to make sure it's done right. A big part of that is getting a lawyer to check the contract and property documents for you; and of course faclicate the purchase and any other issues that pop up. This week I talk to Adam from NZ Legal to explain at what stage a lawyer should be involved and all of the other things you need a lawyer for when it comes to property.

Surprise! Inflation is not as bad as we thought! Finally some good news - but does this mean interest rates are coming down?Not quite- but at least things are slowly turning around which hopefully means they won't go up any further. But we will see what the next OCR announcement holds as the OCR is more closely linked to mortgage rates than inflation. We discuss when we think this will happen and what the current interest rates are in today's podcast. And then once you have decided it is time for a chat to talk about your own mortgage chances then you can pencil that in here​ Mortgage Man Tiktok here

With all that is going on overseas, bank collapses, bailouts, and general uncertainty we are getting a lot of questions about this topic. What happens to my savings if the bank collapses? What about my mortgage? Is my KiwiSaver safe? For each question there is a very different answer. And realistically what is the chance of a bank in NZ collapsing? Listen in and let us know what you think. Pre-approval apply here The Mortgage Man Tiktok here

Sometimes there will be property features that you will love. Other times not so much, and even more so there will be times when alarm bells go off. So should you walk away or can you turn these red flags into opportunities? - Mono plaster cladding properties. - Unconsented works - Leasehold titles Have a listen and let us know what you think!

A complicated topic, but worthwhile, especially now as the 1-year interest rates and the floating rates are quite similar. Done correctly, a revolving credit or offset savings account can save you $100,000's on interest repayments. In this episode, Ant and I go through who these accounts are best suited to, and how to maximize these products. We also talk about the differences between them at different banks. It's worth the listen just to see if this will help you. Then talk to us to see which way is best for you. Book a call with Ant Here

Last week the inflation report came out and while it wasn't exactly what we wanted, it's still going to impact the housing market. Ant and I have been going over the numbers and want to share our thoughts with you. We're breaking down how the inflation report will affect house prices and interest rates in the near future. This week has been a little crazy in the mortgage world, with some banks raising rates and others lowering them. But, the good news is that long-term rates are now lower than short-term rates. This means that banks believe that interest rates will be lower in a couple of years. Yay! And that's great for you, especially if you're thinking about refinancing or buying a house with a 20% deposit. You have some serious negotiating power now and can either get more cash back or lower interest rates. Let us, your mortgage bros, help you make the most of this opportunity. We hope this email gave you a better idea of what's going on in the market. If you have any questions or just want to chat, hit us up!

Well, that was unexpected. Jacinda resigns. What does this mean for the future of the property market, first-home buyers, and the rental market in New Zealand? I think the biggest effect this is going to have is now it drastically decreases the chances Labour has winning the next election, thus meaning National is likely to get in. And for that, there are some clear policy differences- listen to this podcast as Chris & I dissect them.

Welcome to 2023... First let's talk about the elephant in the room: interest rates and house prices. Yes, they are currently on the rise and the market may seem a bit daunting. But don't let that discourage you. Rather let it be a warning. Some people would say buying now is risky. And it is. If you don't know what you are doing. But take some comfort in this- seasoned property buyers are buying now because things are cheaper than before, 20% cheaper in some areas. And although you might think house prices are going to get cheaper, it's pretty hard to pick the bottom of the market. It's nice for your ego to know you didn't overpay by $10-$20k, but that's a very small amount in the scheme of things if you are holding on to the property long term. You could just negotiate that as a discount today using the state of the market as evidence. Yes interest rates are high, but once they do what they are suppose to (reduce inflation) then they will come down, the 15 year average is around 5%. It's safe to assume that this could be the most expensive your mortgage will ever be, so it might be a struggle at the start but it will get easier as you go. If you have decided you want to explore the option of buying this year then you'll need to understand HOW to buy a house in 2023. You'll need a deposit and enough income to service the loan, watch this quick video to understand more. Then, if you are ready, fill in this form and we can call you to discuss options. Here's to a great 2023, for all of us!

As you start to unpack what a crazy year we've had in 2022 you might be thinking what on earth is going to happen in 2023? You'd be right to wonder if 2023 is going to be even more unpredictable than this year we've just had. We've had these same thoughts in the office so decided to do a podcast on it. Firstly we recap what happened in 2022 then dive into what our predictions for 2023 will be. How much higher will rates go up before they start to come down? When will they start to come down? Will house prices actually fall 40% like some people are saying? When will house prices start going back up? Is now the right time to buy? And if not, when is it? Hopefully, it's some easy listening for your New Year break! If you have booked a call with us using this form please be patient - someone will call you from the 9th of January 2023 onwards. Happy New Year!

It's never nice to talk about, but sometimes serious illness, accidents or death happens. In those situations, most people do not want to have to sell their homes to pay the bills or mortgage if one person can no longer work. That's where mortgage protection insurance can help. But do you actually need it? Today, Anthony & I discuss this and other potential insurance products to protect your assets. We also talk about other ways to protect your wealth if you and your partner were to separate; again this is something that most people don't like to discuss but you would rather have things in place just in case. Have a listen and if you have questions hello@tanta.co.nz

Fear of losing your deposit if the developer goes under? Fear of buying a house that's going to leak or fall over? Fear of overpaying in this market? Fear of rates increasing so much you can't afford them? Fear of the home value decreasing the day after you buy? A lot of fearful thoughts.. But no worry.. We are here to save you- hopefully. Chris and I cover why these thoughts, although quite normal, should not stop you from buying your first or any other home. Why? Because you have so many safety nets in place before you buy. After all the bank is taking more risk than you by giving you a mortgage as they will own up to 80-90% of the property at the start, and they want to make sure the property is not overvalued or going to fall over the next day. Have a listen to get more reassurance ..and remember buying when interest rates are higher is a good way to get a discount on a property; and that will make a bigger difference to the total interest cost over the lifetime of your mortgage.

The bank of Mum and Dad has become the 5th largest home loan lender in New Zealand, with an estimated $22.6 billion being loaned out to family members to help them get into a home. But not everyone has this as an option to them.. Maybe, a sibling or friend can help instead. Either way, there are some benefits and negatives to using family or friends as a bank And there is a lot more information you should know before accepting a gift from someone.. Things like: - How does the bank view it? - Do I need a lawyer? - Do I need to pay it back? - My parents only have equity; can I use it? All the answers can be found in this week's podcast. If you need help please click here to book a call.

The OCR is up again, and this time a massive 0.75 jump. The biggest jump we've had. Should you care? Yes; especially when you hear The Reserve Bank say things like "we are trying to purposely put NZ into a recession" This podcast is quite sobering, but we do give you tips on how to get out the other side. If there is only one thing you learn by listening it is this; stop spending money you don't have and start saving more than you think you need.

Negative equity is a term most of us haven't heard in a while but is becoming a real possibility for some homeowners, especially those that brought in the last 12-18 months. But what exactly is it? Negative equity is when the property you own is worth less than the mortgage you owe against it. For example, you buy a property for $ 1.2 million, your mortgage is $ 1 million but then the house price drops to $900,000 - you now have $100,000 of negative equity. Is this a problem? Not really - only if you need to sell the property at a loss. And if that happens the $100,000 that you owe the bank will turn into a personal loan that you will need to slowly pay off, at a higher interest rate. You want to avoid that like the plague because your chances of buying again anytime soon and having to save a deposit again will be close to zero. So if you are in this position; with increasing interest rates and living costs, you don't really have too many options; but here are three.. 1. Grin and bear it, house prices will go back up. 2. Ask for an interest-only period, or mortgage holiday (more on these in our previous podcast here) 3. Figure out a way to increase your income (work more, get a flatmate) We go into this a lot deeper in our podcast so have a listen here Need help? Hello@tanta.co.nz

As interest rates go up, mortgages get more expensive and you might have heard about "going interest-only". What exactly does that mean? First off, your mortgage is usually split into two parts; The "principal" which is the actual amount you borrowed or the loan itself. So when you pay off the principal the mortgage amount you owe actually decreases. And the "interest" which is the cost of borrowing money from the bank. If you were just paying the interest-only portion but not the principal then your weekly cost will be lower (this is why people think it's a good idea) If you went interest-only and hypothetically kept it like that for the full 30 years of the mortgage then you would never actually pay down any of the amount you borrowed from the bank. This isn't great if you live in the home, you retire and you no longer have an income. Ideally, most people when they retire want to have no mortgage on their home so they don't have to worry about living expenses like rent or a mortgage. When is interest only a good idea? Well, this is a debatable topic, but some property flippers or investors do this or it might help if you are really struggling to pay your mortgage as a short-term fix. We dive a lot deeper into this and what consequences you'll have if you are thinking about using this facility; if you should do it from day dot or only use it as a backup plan. Book a call here with one of our advisers today to go over if this is right for you.

We always hear "I'm going to wait until house prices drop before I buy" The problem is, that for house prices to drop, the cost of money has to go up. The cost of money, also known as interest rates are the highest we've seen since 2008. Does this higher interest rate cancel out any house price drops? We've done the maths and although it does in some cases, it's pretty clear that there is not one size fits all and there are some very clear takeaways in this current market situation. Have a listen and if you need an explanation or a mortgage email us at hello@tanta.co.nz

This week's episode talks about the very first step of the mortgage process. KiwiSaver... Getting this right or wrong can be the deciding factor of "when" you buy your first home. Are you making the correct contributions? Are you in the correct fund? Are you with the right provider? All of these questions have specific answers for your own situation. It is certainly not "one size fits all" when it comes to KiwiSaver. We deep dive into all of this and the reasons why your KiwiSaver balance might have dropped a bit recently with none other than Luke Stockman, our KiwiSaver specialist. If you are thinking about buying a house, then you need to start here.

Should You Listen To Your Parents Advice? The rebellious teenager inside you screams no... But you are no longer a teenager and some of the advice parents give their children is pretty helpful...after all they have been around a-lot longer. But financial advice is different. Some peoples parents don't even own property- so should they be giving you advice on whether you should buy a home and when? Probably not. Even if your parents have multiple properties, their advice might be outdated and not relevant to your situation. Unless they are actually buying and selling in this market regularly or work in this industry then you parents advice should always be taken with a grain of salt (that goes for everyone's advice really). One thing parents are great for is to be a sounding board, and to offer an alternative point of view to yours. But like you realised when you were 12 or 13; your parents don't know everything and financial and mortgage advice should be left to the professionals. In this podcast we expand on that premise and discuss when its a great time to listen to your elders and some real life examples of when it's not. Book a free 10 min call with one of those professionals now (your parents can join too) ​

We made it to 50 podcast episodes! Free mortgage approvals for everyone!!​​ This episode I have both Chris and Ant joining me to go over our most popular episodes and if the information them is still relevant. Spoiler: some of it's not so its super important to get this update in your ears. ​Here are our most popular topics that we discuss.. ​​- First Home Buyer Grants ​- Home Buying Requirements - How To Make Your Bank Statements Look Pretty ​- Is Now The Best Time To Buy? ​​This podcast is super interesting as we have three slightly different views on the above - so if you want the most updated and current information from people that do this EVERYDAY then it's important that you listen to it to help your first home buyer journey. Apply for a mortgage here

With the cost of living and inflation at all-time highs, it's a real possibility that you might miss a mortgage payment- especially if you have over-leveraged yourself with other debts or decided to have a child (down to one income). If you already have a mortgage and your interest rate is going from 2.5% up to 5.35% then your monthly repayments could be going up by around $800. That's on a mortgage size of only $500,000. Up by around $1600 per month on a $1,000,000 mortgage. If you don't have a mortgage yet and are looking to buy then you might be worried that interest rates are still going to go up and paying a mortgage will become impossible; resulting in you just waiting and waiting and waiting to buy. The good thing here is that banks test your mortgage at an 8% interest rate now, so if they approve you and your financial situation doesn't change then you should be ok. So what actually happens if you can't actually afford your mortgage? Fear not- Chris and I go into the many options that you have well before the dreaded mortgagee sale. In fact, a mortgagee sale is the absolute last thing the bank wants to do. Before that, there are interest-only periods, mortgage holidays, and other ways to make things manageable. Your quality of life might take a hit but that's ok - you probably spend too much on stupid stuff anyway ;) Have a listen to this week's podcast to give you some peace of mind and then book a free strategy call with one of us HERE to talk about how we can help or start the process of getting you pre-approval for your first home.

Most people just want a home as a roof over their heads - but then what? It's very likely that your first home isn't going to be your dream home, so how can you use the first home you purchase as a way to also springboard you closer to that next home, or another home? The people we speak to don't usually think about that next purchase after their first home and how the first home they buy can speed up or slow down the likelihood of buying their forever home. Yes, house prices usually go up - but if all of the houses go up in value have you actually made any money if you have to buy and sell in the same market? How can you increase the value of your first home regardless of what the market is doing? Is buying a new build going to help or hurt your long-term goals? Do you even care? In this podcast we go deep on the reasons why people buy and the two main types of first home buyers we see; with the best advice for each type.. Are you a fast mover that is an impulse buy that will take action but maybe without considering all options? Or are you an over-thinker that has so many questions, over-analyses the process, and is too scared to actually buy? Maybe you are a bit of both? What's the best way forward? The answer is the same for both. Talk to someone that knows the property, knows the bank's rules and you are comfortable telling them your long-term goals and why you want them. How can you do that? Book a strategy call with us and we can help understand where you are at, where you want to go and how to get there with the knowledge you need to know. Do that here (this is a free service)

Last week we spoke about how to figure out how much money you could get from the bank in 3 different ways. But what if you were expecting more? Or that number is way less than you know you could actually afford? Is there a way to magically increase the loan amount? Well no, But also yes.. Let me explain. If you've just gone into the bank and told them your usual details the person you speak to is going to read that form you filled in and give you a number you can borrow. They aren't going to workshop it with you to see if there are anything little things you can do to help increase the loan amount. Things like… - Can you pay off your student loan with some of your deposit so your income is higher? - Can you lower your KiwiSaver contribution so that you get more useable income? - Instead of getting paid a massive bonus for your work (which is scaled down in the bank's calculations) can you ask for an increase in your salary and less bonus? - Can you buy a new build or increase your deposit to 20% to “unlock” different policy criteria at the bank? - Are you thinking about having a flatmate? …the average bank broker won't ask these questions. And they certainly won't be able to look at any other banks' rules that might actually suit you better. A mortgage broker will. Especially the creative ones like you'll find at Tanta. So here is what you got to do.. 1. Listen to the podcast so you get an understanding of what we are talking about 2. Apply for a call with one of us to plan how we can get the max borrowing. Do that here That's it.

As soon as people decide that they want to buy a house, the next question is how much can they borrow. Sound familiar? So then you go onto your favorite bank's website to use one of their basic calculators to get a ballpark figure. However, they are just that. Very simple. In fact we have tried them all and there was a difference of $210,000 between the highest and lowest loan amounts based on the same data between the 5 big banks in NZ. That's not very helpful when you are trying to narrow down your search criteria. So is there a better way? 100% It just depends on how far down the rabbit hole you want to go. But ultimately remember this; The bank decides how much you can borrow and the bank is going to do the most thorough search of your expenses, debts, and credit history. Have a listen to this insightful podcast on how to refine your max borrowing amount and make sure you listen to the next episode where we go over ways to increase your borrowing amount so you can get more money (if you want more money that is) hello@tanta.co.nz if you need help or have any questions.

To this point, most of our content has been about how to get a mortgage or buy a house. But what happens once you have actually got a mortgage? Are you stuck with it for 30 years? Or are there some ways to pay it down faster? Yes, there are 3 main ways. Depending on how actively or passively you want to manage your mortgage will depend on which one might be best for you. Or a combination of the three. These are 1. Making more than the minimum repayments 2. Making lump sum repayments 3. Utilising a revolving credit account correctly. Have a listen to see which is best for you and then chat with us to confirm and see if we can offer you any other guidance. Hello@tanta.co.nz Or if you don't have a mortgage yet, but want one.. then email us too!

Lots of different opinions on what fixed rates are doing, and what you should do with either a new mortgage or a part of your mortgage that you need to refix; these options are more important during times of high inflation. The current rate for 1 year fixed is 4.95% and the floating rate is around 6.75% The main thing when deciding what to do with your rates is your personal situation, how you get paid, and what your plans are for the property. Having a mortgage broker who understands your situation is super helpful with this. So would being able to tell the future, but that is not possible, we can only recommend the best way to reduce the risk going forward by setting up your mortgage structure in a certain way. This podcast covers what we think you should do during this economic time and covers a bit of background as to why the interest rates are at today's levels.

Banks have been getting a bad rep lately with all the new rules and them just trying to de-risk themselves in a property market full of unknowns. But if you want a home, you kinda need a bank to give you money. So, which is best? Well, it depends on your situation and the current rules at the bank. If you want a new build, then some banks are better. If you have a smaller deposit then you might only be able to go to your own bank. If your income comes from a self-employed business or from overseas then others a better for you. The great thing? You don't really have to know which is best based on your situation, you just need to entrust your application with a mortgage broker that knows what they are doing. So listen in, learn some stuff and then send us your information. :)

It might be tempting to want to buy in a different town to where you work to make it more affordable for you to buy your first home. However, it doesn't work like that. There are rules.. Firstly the commute - it kinda needs to be less than a 1-hour drive from where you work. But now if you can work from home. If you are thinking you can live in one place on the weekends (your home) and then rent in the city you work in then we need to add that extra rent to your expenses which will usually throw the numbers out. Or you could buy an investment out of town? Then there are other things to consider. You won't be able to use your Kiwisaver for one and then what is the long-term plan? A lot to think about, hence the podcast episode. Have a listen, I am sure it will help you.

Revolving credits are complicated. It's one of those things that you learn by doing; but in this episode, Chris & I try our very best to describe how these accounts can save years off your mortgage & save you $10,000's in interest. We cover who these kinds of faculties are good for and who should stay well clear. We also go over how to make the most of the accounts and what pitfalls to look out for. They are not for everyone but used correctly they can be very effective. hello@tanta.co.nz if you think our explanation was on point.

We sometimes forget that the language we use when talking to first-home buyers is not appropriate. I don't mean we use swear words or shout profanities but more so we use words that you may have never heard of. Our fault. But also lawyers, real estate agents, and other pieces of educational material use these same terms. So in this podcast, we get to be a walking, talking dictionary - with a bit of banter mixed in. It's important that you know these terms so you are 100% certain when you hear them and avoid any confusion when buying a house (it's kinda a serious thing)

It's tempting. Pooling your money & income with a friend or family member so you can buy a home or a better bigger home that usually wouldn't be able to afford. Although it's a great idea at the start of the process, what about at the end? What if one of you no longer lives there or wants to sell? Or has to sell? There are many things that could happen and not all of them turn out great for the relationship. In this podcast, we cover what you should do, and what to be aware of in two different scenarios. - Buying with a sibling or friend - Buying with parents It's very likely that you have considered one of these two options so knowing what to look out for is essential. All of the three boys here at Tanta have brought with a sibling in the past so we know more than enough on this topic as well as doing mortgages for multiple people in this situation.

It's been a busy month in July for mortgages and offers. This podcast covers all of it. We go over 7 key things. 1. 1% cash back from BNZ 2. 1% interest rate for top-ups at ANZ 3. Inflation is at 7.3% 4. OCR is up 0.5% 5. Test rate is up at ASB 6. Which banks are offering loans to people with less than a 20% deposit. 7. Today's current interest rates. And a whole lot of banter. Enjoy!

It's taken us a while to realize that after 36 episodes we haven't done one on the benefits of using a mortgage broker instead of going directly to the bank for your mortgage. There are a lot of benefits that we discuss within this episode but it comes down to a few key benefits; - Advice; we teach you how to buy a house - Personalisation; We know which bank and which products suit your situation best - Ease of Use; Instead of you visiting each bank separately and explaining your situation we can do that for you ..and of course, it's free to use us and we will get you the same if not cheaper rates than what the bank offers you. hello@tanta.co.nz to work with us.

Did you know that the average first home buyer in 2021 put 49% of their household income towards their mortgage? Back in 1949, the average house cost was only 2x the average household income. Now it's up to 10x. So is now the worse time to be a first home buyer and should that stop you from buying? We can't change the past; only learn from it. And although that might speak true for the last 65 years, what about the next 65? Could right now be the best time in the next 65 years to buy? We don't know. So if you want a home and can afford it because the bank has said so. Then you can either get your home now or "wait and see". There are still people from 5 years ago "waiting and seeing" that would be a lot better off if they were brought back then. Maybe you are thinking "You guys just want us to buy a home so you get paid" Listen to the podcast to see if that is the case (it's not)

Kāinga Ora is great - if you meet their eligibility criteria for help. In this episode, we discuss the three ways that Kāinga Ora can help you buy your first home. - Home-Start Grant (that's up to $20,000 of free money towards your deposit) - Shared Ownership ( you both own the property, they can contribute up to $200,000 for this) - 5% Deposit Lending (they will lend you money to top up your deposit) Each of these has its own rules so listen up and figure out which if any, can help you. hello@tanta.co.nz

Right now, first-home buyers have got it tough. And it's easy to blame that on the banks or the government which tells the banks what to do. But instead of just complaining about it (don't worry we do that too); we wanted to give you a helping hand to use this tough time to your advantage. Are banks making it harder for you? Yes. If you have a less than 20% deposit then you will be treated as a "risky borrower" and banks have been told to reduce the about of borrowing to this group. But you can see why right? They are protecting their business. And to be fair if one of the major banks collapsed our economy would be in pretty horrible shape- so we don't want that. But here is the good part; If you are wanting to buy a new build and even if you have a 10% deposit then the policy rules are in your favor. Plus you get a new build property. Listen to Ant and I as we discuss and talk segways. hello@tanta.co.nz if you need help :)

Having friends and family is great. Especially when they can help you buy a home. But how? In this podcast, we cover three ways that your nearest & dearest can help you buy depending on if you need help with your deposit, the income side of things, or both. These are 1. A guarantor 2. A Gift 3. More people Ultimately everyone's situation is different and having a First Home Buyer Expert like us figure out your current situation and what needs to happen to get you into your first home is the next step forward. hello@tanta.co.nz is that next step.

We are hearing a lot of headlines about the struggles of builders, new builds, and the cost of living. All this adds up to the end buyer to represent extra risk - that is an extra risk for you. Is a new build still worth looking at for a first home purchase? Yes! But; you just need to be a little more careful with your due diligence. Not only on the land and the area and the plans but also on the builder and the developer. So how do you do that? And what other things can you work on to help reduce this apparent risk? Listen to Chris & I as we talk about - How to find a good project - Why banks are going to want you to buy a new build (and reward you for doing so) - Sunset Clauses And more..

Believe it or not - the buy now pay later facilities are debt and need to be treated as such when applying for a mortgage. We see some people manage these well and others manage them not so well. Like any debt, if you have too many and miss payments - it's unlikely you will be given a mortgage. But if you are paying them on time then your chances are better. The bank likes to see that you are living within your means. Spending money you actually have. If you have all of these accounts are you managing your money wisely? If you want to max out your borrowing capacity then all of these need to be paid off and closed. If you are going to keep them open then they need to be put on the debt side of your application form. Simple as that! Or is it? Chris & I recorded a podcast to summarize and explain what other things you should know about these tricky buggars.

The home start grant is free money given by the government, this was in the past quite hard to meet the eligibility criteria as there were very low price caps you had to buy the property for, and you had to earn under a certain amount to be able to get the free money. (up to $20k per couple) Yes, free money!! But now those criteria have changed to be a bit more realistic. For example; Income requirements In the 12 months before you apply, you must have earned: $95,000 or less before tax for an individual buyer (up $10k) $150,000 or less before tax for an individual buyer with one or more dependents $150,000 or less before tax for 2 or more buyers, regardless of the number of dependants (up $15k) Price House Cap Changes (you need to buy a property under this price to get the free $$$) This is specific for each region so listen up to this podcast to understand what they are and what they mean for you. If you now have a 10% and think it's time to check if you can get pre-approval with us then fill this in and we will call you back if we think we can help.

A lot of people tell us that they think the bank should give them a mortgage because they figured out that the repayments are around the same as their current rent payments. However, it's not that simple. The bank is going to give you 100,000's of $$$ so want to be pretty certain that you can pay it back. This means that they test your mortgage at a higher interest rate (just in case), they add in other expenses, and still want to see you can save a bit of money. So what can you actually do to show the bank you can afford a mortgage? Listen to the podcast and it will tell you all of our secrets. Questions? hello@tanta.co.nz

Out of all the debt you could have; student loans are probably one of the best. However, this doesn't get ignored when applying for a mortgage. Just like with other expenses, this needs to be added into the expenses part of your home application. The good thing is that it's taken as a % of your income, so doesn't really matter how big or small the loan is. However, if you are wanting to maximize your borrowing capacity and your student loan is quite small then paying this off could make a big difference. Having a broker test different options for you is the best way to go. So here is what you got to do. 1. Listen to this podcast 2. Tell your friends 3. Click this link to fill in our basic form to see if we can help 4. Wait for our call or email.

Inflation is up, so as a bid to control this the OCR is creeping up too. What does this mean? Higher interest rates on loans. Mortgage costs are usually one of the biggest expenses in a household so by making a mortgage more expensive the theory is that people will have less spare money to spend on goods and services so the prices of those things don't go up as fast. So how high will rates go and should you panic? Historical data suggests the max will be a 1-year rate of 7%. However, this will only be temporary if it does go that high. Should you wait to buy? As long as you can afford a mortgage at that level of 7% (which is what the banks test your mortgage at) then you should be fine as long as your situation doesn't change dramatically (ie have a baby). If the bank says "yes" then you should take comfort in the fact that the guys giving you money are confident you can pay it back, but what if you can't? Even if you do miss a few mortgage payments it is an absolute last resort for your bank to take back your house and sell it as a mortgagee sale. This podcast episode explains exactly what to look out for, and how you can make the most of the deals in this current buyers market. Need help? hello@tanta.co.nz

If you are a first home buyer with less than a 20% deposit then this is something that you need to get during part of the due diligence process. Today- Ant & I discuss what these are; when you need them and how long they will take. Plus, what happens if the value comes back lower than the price of the house? Does that mean the purchase falls over? Or are there other options available? Got questions? Reach out at hello@tanta.co.nz

If you have extra money should you use it to pay down your short-term debt or save more to get a bigger deposit? The annoying and unhelpful answer that most people will tell you is "it depends" And it truly does depend - but we want to be a bit more helpful than just giving you a useless answer. First off, the three of us recorded a podcast around this topic so listen to that here when you have a chance (it's only 15mins long). But to get to the original question it would depend on a few different situations on whether paying down debt or saving a bigger deposit was best, but ultimately we are just trying to make the numbers on the bank calculators add up. So if you already have quite a big deposit, it might be best to pay down the debt with any spare money. If you only have a bit of debt and just need a little bit more deposit to get you to the 10% mark then focusing on getting that deposit up should be where the spare money goes. Or maybe you are a high-income earner and having a bit of debt and a small deposit isn't going to matter much and we would still be able to get you approved for a mortgage. Another thing to think about is if you were to get a gift from a family member - is that better to add to the deposit or pay off debt? A few different scenarios - hopefully, you can identify with one of them - but again we are the experts, and these kinds of questions are exactly why you have a mortgage broker. Wanna chat; click here

For some of you, this will be the first (of many) podcasts episodes that you will listen to. You've probably downloaded our Free KiwiSaver Guide and instead of wanting to read it, you would rather listen to it on your way to work. So here you go; 13 minutes of gold to give you the basics of how KiwiSaver in NZ can help you buy your first home much sooner. Your next step, get free individual advice from one of our KiwiSaver advisers; express your interest here and we will call you back or email us at hello@tanta.co.nz Ps If you want to download the guide do so here

A lot has happened in the last 7 days. For most of us, the new war is so far away that we are not affected by it too much; apart from maybe the disbelief that war still can happen in 2022. Regardless, the one thing that does react to overseas invasions is our investments and KiwiSaver balances. You might have seen your balance drop; so what should you do? Change funds or ride the wave? That depends on what you are using your Kiwisaver for and the timeframe that you think you will withdraw it. Chris and I, coming from our new office in Takapuna talk about what you should do and what you should not do in these very interesting times. And like always; if you need individual advice please email hello@tanta.co.nz

Two very different things. Although you might think you earn enough money to get a mortgage that doesn't mean the bank agrees. Bonuses, commissions, self-employed income, and rent are viewed differently at banks than in the real world. This is because a mortgage is for 30 years so they want to make sure your income source continues to be reliable, and if it's not or is new then it's unlikely this will be factored into the income side of the bank's equation for your application. Equity - don't get confused, this isn't free money, it is a loan secured against an asset, and the amount of "useable equity" depends on what that asset is used for (home or investment property, new build or not) and who is giving out the money. A lot of things to expand on and that is why Ant & I did this podcast. Need help? hello@tanta.co.nz