Home Loan Changes: Free seminars for home buyers

Media Release

20 September 2013

Home Loan Changes: Free seminars for home buyers

With the Reserve Bank’s restrictions on mortgage lending coming into force next month, three Tauranga businesses aim to help home buyers to better understand the changes and their effects by offering free seminars entitled ‘Snakes and Property Ladders: How the New Restrictions on Mortgage Lending Affect You and Your Family’ in early October.

The seminars run by Financial Independence (Financial Advisers), Holland Beckett Lawyers and Property Solutions (Valuers) will cover:

• The lending changes - what, how & why
• Welcome Home Loans, Kiwisaver and grants
• Guarantees and joint loans - the risks and how to manage them
• Property Valuations in Tauranga

The Reserve Bank’s new rules will restrict the ability of banks to lend more than 80 per cent of the value of homes, meaning home buyers with less than 20 per cent deposit will find it difficult, if not impossible, to get on the property ladder. Alan Hitchcock, mortgage broker at Financial Independence, hopes the seminars will help first home buyers understand the changes better and educate them on options still available to them.

“We have had a lot of comments from people who have been working hard to save a deposit but now feel that buying a home is completely out of their reach. Some have said they feel that home ownership is now limited to the ‘rich’ and ‘established property investors’.

“We want first home buyers to know that they still have options, especially if they have some savings and/or family support. There are also first home buyer grants available to Kiwi Saver participants from $3,000 to $5,000,” says Alan.

These free seminars will take place at Holland Beckett Lawyers on Cameron Road on:
Monday 7th October 6.00 - 7.15pm
Thursday 10th October 6.00 - 7.15pm
Wednesday 16th October 5.30 - 6.45pm
Complimentary refreshments will be provided

To find out more or to reserve your place online - visit www.homeloanseminar.eventbrite.co.nz
You do not have to sign up to register. Early registration is advised as spaces are limited.

If you would prefer to make a private appointment to discuss your home loan options call Emma Robinson at Financial Independence 07 557 8322 or emma@youradviser.co.nz

-ENDS-

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