LoanPlan Mortgages and Finance - Latest News [Page 1]

Debt is bigger obstacle to home ownership than supply

Wednesday, 14 March 2018, 3:41 pm | LoanPlan Mortgages and Finance

Debt is a bigger obstacle to first home ownership than housing supply Getting rid of debt should be a greater priority than saving for a house deposit, says longstanding Auckland mortgage adviser Christine Lockie. The director of LoanPlan Limited , Ms ... More >>

Mortgage borrowers getting creative but banks shift goalpost

Monday, 12 June 2017, 11:19 am | LoanPlan Mortgages and Finance

New Zealand’s changing social dynamic is reflected in the co-operative approach many families and first home buyers are taking when applying for mortgage finance, but the banks – caught between a rock and a hard place by many factors outside ... More >>

NZ Banks now lending on income over equity

Friday, 9 December 2016, 12:03 pm | LoanPlan Mortgages and Finance

While your house may be worth a fortune, it’s now harder than ever to convert property assets into cash because New Zealand’s major banks are assessing mortgage and loan applications against income over equity. More >>

Banks charging mum and pop investors higher margins

Monday, 10 October 2016, 2:28 pm | LoanPlan Mortgages and Finance

Not only do New Zealand mum and pop investors have to come up with 40 per cent equity to buy an investment property, now the banks are charging them higher margins on their interest rates too. More >>

Equity no longer a sure thing when it comes to finance

Friday, 22 July 2016, 1:10 pm | LoanPlan Mortgages and Finance

New Zealanders continue to top up their mortgages at a steady clip, but more and more home owners are discovering that the equity in their homes is no longer enough for bank approval – even if they want to use the money to add value to their property. ... More >>

The RBNZ’s income cap will be a damp squib

Thursday, 12 May 2016, 11:17 am | LoanPlan Mortgages and Finance

The RBNZ’s income cap will be a damp squib because banks are already tougher than that More >>

Man working ‘too many hours’ gets mortgage declined

Wednesday, 10 February 2016, 3:02 pm | LoanPlan Mortgages and Finance

A recent example where the bank declined a mortgage application from an Auckland man who works 60 hours a week shows that the banks are also taking lifestyle factors into consideration under the new ‘Responsible Lending’ regime. More >>

Spending Habits and Mortgage Applications

Thursday, 3 December 2015, 1:51 pm | LoanPlan Mortgages and Finance

Your spending habits are far more likely to get your mortgage application declined in December 2015 – even if you have enough equity and a high income – because New Zealand’s bank’s have changed their credit policies, almost overnight, to ... More >>

Buyers take on greater risk with trend to new builds

Thursday, 3 September 2015, 3:48 pm | LoanPlan Mortgages and Finance

The increasing number of first time home buyers choosing the new build route to home ownership – as a means of bypassing the Reserve Bank’s loan-to-value ratio (LVR) restrictions – may be exposing themselves to greater risks. More >>

Banks surprise move on 30% equity LVRs shocks investors

Thursday, 16 July 2015, 5:20 pm | LoanPlan Mortgages and Finance

The mortgage door has closed suddenly for some mum and dad property investors with less than 30 per cent equity following an announcement by ASB last night that it will issue no more pre-approved mortgages for property investors in the Auckland ... More >>

Reserve bank 30% deposit rules hurt entry-level investors

Tuesday, 9 June 2015, 10:06 am | LoanPlan Mortgages and Finance

Reserve bank 30% deposit rules hurt entry-level investors and first home buyers Reserve Bank rules that will force residential property investors in the Auckland Council area to provide a deposit of 30 per cent from October is another blow for ... More >>

Home owners move to break fixed term mortgage contracts

Monday, 24 March 2014, 11:22 am | LoanPlan Mortgages and Finance

Home owners move to break fixed term mortgage contracts for peace of mind The Reserve Bank of New Zealand’s move to increase the Official Cash rate by .25 of a percentage point at the end of last week, has seen a surge in inquiries from existing fixed ... More >>

New Zealand’s Christmas property siesta an opportunity

Friday, 20 December 2013, 3:28 pm | LoanPlan Mortgages and Finance

In view of the competitive nature of the Auckland housing market and recent changes in homebuyer behaviour, the coming holiday period could give enterprising home seekers an edge when it comes to finding their dream home. More >>

Home buyers looking for ways around low equity restrictions

Wednesday, 4 September 2013, 2:23 pm | LoanPlan Mortgages and Finance

The Reserve Bank of New Zealand may be seeking to cool the housing market in Auckland with restrictions on low equity mortgages, but local mortgage brokers are already seeing evidence of home buyers looking to circumvent the move and increasing their ... More >>

Ordinary Kiwis will bear brunt of RBNZ borrowing policy

Monday, 13 May 2013, 4:25 pm | LoanPlan Mortgages and Finance

Intentions by the Reserve Bank of New Zealand (RBNZ) to force banks to hold more capital for people with a less than 20 per cent deposit towards a mortgage will only hurt ordinary Kiwis. More >>

Developers squeezing out home buyers

Thursday, 4 April 2013, 4:58 pm | LoanPlan Mortgages and Finance

With the Auckland mortgage and housing market under pressure from developers – particularly in older suburbs like Birkenhead, Beach Haven, Belmont and Forrest Hill on the North Shore – local home buyers will have to think outside the square when ... More >>

 

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