Guide to Mortgages Aims to Tackle Homeownership Hinderances
New Guide to Mortgages Aims to Tackle Hinderances to Homeownership.
Much of the NZ media wrings its hands at what appears to be the inability for young first home buyers to become first homeowners.
The Kiwibuild reset documents proactively released by cabinet in October identified a number of issues that hinder young kiwis getting into their first homes. One identified factor is education.
That is why New Zealand property investment company, Opes Partners, recently released what they term, The Epic Guide to Mortgages.
This long-form article is a 9,500-word guide that shows both how to get a mortgage and then pay it off more quickly.
Andrew Nicol, Managing Director of Opes Partners says "Banks are great at advertising low-interest rates, but they are very poor at explaining basic financial concepts and educating consumers about the products that they sell."
He continues, "getting a mortgage appears to be shrouded in mystery, and some of the rules of thumb are hidden away in mortgage brokers head or are buried in old blog posts on bank's websites (generally written in financial jargon)."
From Nicol's perspective, New Zealand's shocking financial literacy is a major problem he seems poised to tackle.
"Late last year, we released our Epic Guide to Property Investment. It's been so successful that we wanted to bite off an even bigger challenge. Although this guide is a bit shorter (for now), it's taken significantly more research."