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: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Scoop Business: NZ Broadcasters Launch Battle Against Global Mode ISPs

New Zealand broadcasters have confirmed they’ve launched legal proceedings against internet service providers who give customers’ access to “global mode”, which allows customers access to offshore online content, claiming it breaches the local content providers’ copyright. More>>

ALSO:

Sanford: Closure Of Christchurch Mussel Processing Plant Confirmed

The decision comes after a period of consultation with the 232 staff employed at the Riccarton site, who were told on 9 April that Sanford was considering the future of mussel processing in Christchurch. Recent weather patterns had impacted on natural spat (offspring) supply... More>>

ALSO:

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Scoop Business: Reserve Bank’s Spencer Calls On Govt To Rethink Housing Tax

The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland property market. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news