Mortgagesuite

  Today, most home purchasers think about how much deposit do they need. Well, that entirely depends on your circumstances. A minimal deposit loan may be attainable if your conditions are good. While 5% of home loans are a thing of the past, banks still retain the option to offer low-deposit credit. If it’s your first home loan in NZ , you must meet specific criteria. Here are some suggestions for increasing your chances of getting a low-deposit loan. 1.     Keep track of your bills and pay them on time. Before extending credit to you, the bank will check your credit report to see if you can consistently meet your monthly obligations, such as bill payments and loan repayment. To minimize debt and pay needless interest, try using a debit card instead of a credit card. Paying bills on time, such as phone, internet, and electricity will help you boost your credit score 2.     Demonstrate that you are an excellent saver.   Prior to p...

Applying for a home loan is pretty straightforward for most people in New Zealand. However, it can be stressful and complex to apply for a home loan for those who are self-employed, running their own business, or working as a freelancer. But that doesn't imply it is unattainable; just it takes a little more work.       Why Do Banks Usually Reject Self-Employed People? When it comes to a home loan, financial stability is one of the crucial factors that lenders consider. Since a mortgage involves a lot of money, banks need to be assertive that you're in a good position to repay that debt. If you’re an employee, you’ll receive the same amount of money each month (with bonuses, etc.). It is easier for banks to picture your income and lend accordingly. But as a self-employed person, your income can vary each month. Consequently, banks are often hesitant to lend to self-employed individuals. How Can a Mortgage Broker Help? If you are a self-employed borrower, getting ...

When you want to purchase a new home after selling your current home to meet the growing needs of your family, it’s always a good idea to close the deal first on your current home and use the profit to purchase your new home. It protects you from any financial burden in the near future. But things don’t always work in your favour. What if you get a very good deal on a property you are looking to purchase before finalizing the sale of your current home? You will be out of cash to close the deal on your new home. It is where a bridging finance loan can help you with proper transition between two projects without facing any cash flow gap. Bridging finance loans in NZ provide a great financing solution to people who want to purchase a new home while their current property is being sold and the deal is not finalized yet. These are the short-term loans to bridge cash flow gap between the need to spend money and the time when you will receive the money after selling your current home. Fo...