As we start on the final run up to Christmas, here are my Top 5 Tips for saving, borrowing and making money over the next few months.
Take 5 minutes to learn about:
Need a mortgage top up before Christmas? There's still time!
Christmas gifts for clients, friends or family (mention my name for a discount!)
New loan products that are making it easier to buy a property. Do you qualify?
Buying an investment property? Here’s a great service for people short on time and/or experience
Why it’s a great time to be a saver (and what to do if you're a borrower).
Need Some Extra Cash for Christmas and the Holidays?
I’ve worked with a number of people lately who’ve built up some credit card and HP debt this year. In many cases we’ve been able to top up the mortgage to refinance this debt at a much cheaper rate.
If you want to refinance some debt or you want some additional funds to replace the car, renovate the house or simply to give you some financial breathing space, please feel free to give me a call. 10 minutes over the phone and you’ll have a pretty good idea of what’s possible and what the costs will be. Phone (09) 630 8252.
Christmas Gifts for Clients, Friends and Family
Truly personalised gifts are always welcome and they don’t come much more personal than having your message printed or embroidered onto an item that people will actually use.
Roger and Helen Masters at EmbroidMe (showroom at 171 Hobson St in Auckland) have a HUGE range of merchandise available from mugs and key rings to clothing, picnic sets and bags of all kinds.
Mention my name and you’ll receive:
A 10% discount for orders over $250,delivered before Christmas.
A 15% discount for orders over $250 placed before Christmas for January delivery.
Here’s a suggestion: What about team T-Shirts for Round the Bays next year? Check out the website at EmbroidMe or phone them on (09) 354 3340.
New Lenders Make Buying a Property Easier
Property sales are up 36% on a year ago, fuelled in part by the willingness of some lenders to make it easier for people to buy property. Here are some loans that have been approved recently by non-bank lenders:
A loan for 95% of the purchase price for a young couple with good incomes and clean credit, who’d managed to save a 5% deposit
A loan for 90% of the purchase price with a 10% Gifted Deposit from Mum & Dad. The borrowers had been renting this property in a smaller North Island town for some time and had a great rental history. The loan was approved over 25 years with mortgage payments almost the same as the rental they had been paying.
A Kiwi living in Australia, wanting to purchase an investment property in Wellington. The security property was a great little house with an existing tenant. As income / deposit / rent details were relatively easy to verify, the loan for 80% of the purchase price was approved easily.
In addition, I’ve also been approached recently by lenders offering:
Development and Commercial funding up to 5m;
2nd mortgages;
Mortgagee sale refinances;
Credit impaired lending;
Business Finance;
100% finance;
Low doc / No doc loans;
Interest only and Capitalised facility’s;
Do you qualify for a mortgage? For a FREE consultation and Mortgage Pre-Approval service please contact me on (09) 630 8252 or email me on stever@qbg.co.nz.
Thinking About Buying Investment Property in NZ or Australia?
I had a great meeting this week with Noel Avenell from a company called New Zealand For You (and Australia For You). Noel sources properties from builders and developers and publishes the information on his website.
The NZ properties have often been promised to Housing New Zealand on 10 year leases; one development that caught my eye was only available to HNZ clients over the age of 55. From an investor’s point of view, what could be better than older tenants with no kids who want to live in your property long term?
It’s a Great Time To Be a Saver – But What About Borrowers?
Changes to the regulations governing NZ banks mean that they must significantly increase their reserves of liquid assets (cash) by April 2010.
One way to achieve this is to attract more money from savers into Term Deposits and other bank investment products. This is the reason we’re seeing the banks increasing the returns on these investments - which is great for savers.
For borrowers, floating interest rates are at their lowest in four decades and are likely to remain fairly static until 3-6 months into 2010 before increasing by 3% by 2011.
House prices in the 3 major cities have risen 9% so far this year (though not in the provinces) and an overall shortage of homes for sale (we’re not building enough for the amount of people moving here) will ensure they continue to get more expensive.
Quick Tip: It may be a great time to buy a section. There are few avenues for developers to get finance to subdivide land at the moment so any existing sections will become more valuable as the squeeze takes hold.
And Finally…
I would like to take this opportunity to thank you for receiving these newsletters from me each month; I hope that you have enjoyed them and found them informative.
Please don’t hesitate to Facebook them and/or pass them onto friends and family – your referrals are the lifeblood of my business and are ALWAYS appreciated.
Have a fantastic festive season and look out for my next newsletter in late January 2010.
In the meantime, please don't hesitate to contact me over the summer if you need any assistance.
Steve Robinson
Accredited Mortgage Broker
Quantum Broker Group
Ph (09) 630 8252
Fax (09) 307 7099
Mobile 021 614 002
