Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


New LVRs mean home buyers should seek professional advice

For immediate release

New LVRs mean home buyers should seek professional advice before making decisions: Mortgage Express

New loan-to-value ratio (LVR) restrictions mean home buyers should be fully informed before committing to a loan, says mortgage and insurance advisory company, Mortgage Express.

“Mortgage advisers are up to date with the regulations and lending climate and are able to advise on the full range of options for each individual’s situation,” says General Manager of Mortgage Express, Sarah Johnston. “Navigating home loan lending can be quite a complicated exercise. Mortgage advisers are involved with lenders on a daily basis so can give the best advice for their clients. I would strongly recommend that home buyers seek out professional advice so they are fully informed.”

Mortgage advisers can be useful to scope out a range of options broader than what the traditional banks can offer. Some of these options include second-tier lenders, or specialist lenders, that offer competitively priced loans, often available only through mortgage advisers. 

“Since the Global Financial Crisis, all lenders, including these specialist lenders, have much more stringent compliance, and are underwritten by the banks. Often, their fees are no more than the commercial banks, their rates are competitive, and feature many other facilities that borrowers are used to and expect from a lender,” says Johnston. “So there are alternatives out there that a mortgage adviser can help people negotiate.”

Advisers can often get better deals on home loan packages because they are up to date with the lenders’ policies in the market and also talk within their adviser network to find the most competitive deal. 

“Many people aren’t aware that mortgage advisers have long-standing relationships with lenders and thoroughly understand the ins and outs of applying for a loan,” says Johnston. “I believe a mortgage adviser can be invaluable in helping clients navigate the world of home loan lending. I would strongly recommend to people that they get professional advice before they make any decisions.”

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news