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Mortgage People Online

2012-05-16T20:29:00.003-07:00

Yes, it's true you can now "Like" us on Face Book ...

Shopping around...

2012-05-10T16:16:00.000-07:00

Competition amongst the banks is heating up.

... and as a result homeowners with mortgages are being advised to shop around now that competition among banks is heating up and we see interest rates dropping.

ANZ and National have dropped their one-year fixed rate to the lowest it's been in 17 years, and more banks are expected to follow.

Executive director at the Commission for Financial Literacy & Retirement Income, David Kneebone says it's a good time for consumers, particularly those on floating rates, to test where their bank is at.

"I think now it's fair to say that the balance has swung back to consumers, and this is a good time for people to exercise the power that they have at their hands, and barter and shop around with banks and see what kind of deal you can get."
David Kneebone says now's the time to change lenders or at least think about it.

With this in mind, this is where you need a good mortgage adviser ...
True story: a Mortgage People adviser negotiated a 1 year fixed rate of 4.85% on a $300,000 home loan plus $2,000 towards costs for a client!

If you haven't used a mortgage broker before - what they do is simple, we get you the best possible mortgage that suits your lifestyle. Mortgage advisers negotiate with the lender on rate, contribution to costs and structure - so that your next or first home loan suits you and doesn't in anyway prevent you from enjoying life!

Alternatively, if you want to fast track repaying your mortgage, you need a good debt management programme that keeps you on the right path. In this instance you need a specialist mortgage adviser who can work through options that some mortgage advisers and banks just can not provide.

For a coffee and chat about your circumstances or to enlist a specialist mortgage adviser who will check the market out on your behalf freephone 0800 823 823 or email now!

Disclosure statement available free of charge on request.

OCR holds at 2.50%

2012-04-25T16:19:00.002-07:00

The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 2.5%, in a short statement Dr Bollard confirmed "For now it is appropriate for the OCR to remain at 2.5%".

"The domestic economy is showing signs of recovery...
"Housing market activity continues to increase...
"A recovery in building activity appears to be underway - as forecast...
"That recovery will strengthen as repairs and reconstruction in Canterbury pick up later in the year."

The main concern for the Reserve Bank appears to be offshore "the global outlook remains of concern. Near-term indicators have moderated and financial market sentiment is still fragile."

"The New Zealand dollar has stayed elevated despite recent falls in commodity prices. Should the exchange rate remain strong without anything else changing, the Bank would need to reassess the outlook for monetary policy settings."

But what we don't know is what that reassessment may involve - as previously indicated a longer period of no change to the OCR; or whether they would see a cut to the rate.

The next Monetary Policy and OCR rate annoucement is 14th June.

If you are interested in reading past announements and statements from the Reserve Bank click here

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If you want to speak with a mortgage adviser about your circumstances then click here to meet the Mortgage People team or freephone 0800 823 823

To fix or not to fix

2012-04-09T19:58:00.005-07:00

We are certainly being asked that question time and time again at the moment and guess what we don’t have a crystal ball that gives us the answer so the next best thing to do is to weigh up your priorities and choose the rate and the term that best suits you. So with that in mind here are some things to ponder over...

WHY CHOOSE A FIXED RATE?

A fixed rate means you’ll know exactly what your repayments are and you can budget with certainty.

WHY CHOOSE A FLOATING RATE?

Right now floating rates are lower than fixed and the cheapest way to borrow money, but will they stay that way… probably not. They are also very flexible and allow extra or early repayment to be made without penalty.

WHAT CAN YOU AFFORD?

Think about that when planning your budget and also think about the impact of rate increases on your budget and lifestyle.

WHATS THE COST OF CERTAINTY?

It’s the difference between what you will pay on a fixed rate and what you are currently paying on floating.

WHAT ARE YOUR PLANS?

Your personal plans for the future can give you a clue as to what to do, for instance if you are likely to be in a position to make a lump sum payment against your mortgage then it’s better to stay floating on that portion SO here is something to consider “A SPLIT MORTGAGE” by splitting between fixed and floating you can strike a happy balance… talk to us!

THE ECONOMIC OUTLOOK here are the facts…

In its January review, the Reserve Bank of New Zealand (RBNZ) held the Official Cash Rate (OCR) at 2.50%, as was expected.

Increases in the OCR are largely dependent on the global outlook and specifically developments in Europe.

With all the global uncertainty, at this stage the bank economists expect the RBNZ to put off any increase in the OCR until late 2012.

It is widely expected that current floating rates will go up in line with expected OCR increases.

By the end of next year it is expected that the floating mortgage rate will be about 1.5% higher than the current rate.

So, the table at the top is to help you decide on what to do and please feel free to call us for advice on splitting your mortgage...

freephone 0800 823 823 or click here to view our team

The views expressed in the above blog are those of the author as at the date of the blog and are based on information and sources believed but not warranted to be correct. Neither Mortgage People or the writer accepts any liability for any loss or damage whatsoever that may directly or indirectly result from any information or omission contained in this blog.

Mortgage Help

2012-04-03T19:16:00.002-07:00

An article in today’s NZ Herald caught my eye it was about mortgagee sales and quoted the banking ombudsman Deborah Bartell’s who said that “complaints about mortgage finance had almost doubled since before the financial crisis”.

The thing we want to stress here to all existing home owners is that peoples circumstances change all the time, and sometimes without warning the unexpected happens like redundancy, so if you find yourself in this situation talk to your mortgage broker straight away - and let us see what we can do to help, in most situations there is a solution. This might involve us talking to the bank for you and restructuring your debt to give you some breathing space or it might involve refinancing your current mortgages to make the payments easier.

Mortgage People have honestly assisted many clients who have experienced difficulties sometimes just to give them the time they need to sell their property in an orderly fashion and not have the bank do it in a mortgagee sale situation where often the sale price is much less.

The other thing is that the 31st March has just rolled by and for self employed people that’s tax time, once again if you don’t have the funds available see us about a potential restructure of your mortgages the trick once again is to chat to us early not later when the penalties start to kick in!

If your debt - mortgage, personal loans, business loans, car loans, hire purchases; is compromising your lifestlye, then its time to take control and talk to a Mortgage People broker today - find out all your options.

freephone 0800 823 823 or email us - enquiries@mortgagepeople.co.nz

Written by Glenn Christie, Director - Mortgage People Ltd

New Give Way Rules

2012-03-15T16:24:00.003-07:00

Next Sunday, the 25th of March 2012 is when the new Give Way rules in New Zealand take effect.
Are you prepared? Are you insured?

Whether you've been driving from way back when you could get your Licence at 15 and off you went, or if you've just got your Restricted or Full Licence these changes require you to take a moment and think before you move forward from an intersection!

We all need to retrain our brains on the "give way to your right" rule that has been programmed into us all!

If you haven't already, check out the NZTA's website

here, there are simple illustrations that actually make it seem quite clear... although it will be a different story when you are in your car and on "auto pilot", doing your usual drive to drop the kids at school, get to work, the supermarket or the gym.

So, where does this leave you with your car insurance? If you are "at fault" then its your excess thats going to be hit and possibly your no claims bonus!

When was the last time you checked your car insurance?

Or, perhaps you are looking to change cars. If you need a top up on your mortgage to fund your next car purchase, contact us today our services are free.

Mortgage People & Insurance People

freephone 0800 823 823 email us

OCR left at 2.5%

2012-03-12T20:18:00.004-07:00

The Reserve bank has left the OCR (Official Cash Rate) at an all time low of 2.5% and has signalled that there will not be a rise until this year's December quarter. They have also indicated that there potentially will be only two more increases over the next two years, so floating interest rates look to remain low.

Inflation has also dropped below the midpoint of the banks 1 - 3 per cent target range and inflation expectations have also fallen sharply. However, not everyone seems to agree with the Reserve Bank, one bank economist believes the rebuilding of Christchurch, the back log of leaky homes requiring repair and the pent up demand for property in Auckland after a slump in residential building (something we have indicated before) will add to inflationary pressures over the next few years. What does this mean, well we could see rising house prices and a construction boom coming our way as we have done in the past.

If you would like to have a chat with a mortgage expert who deals with most main banks and many other lenders about your situation then click here or call now on freephone 0800 823 823

Written by Glenn Christie, Director - Mortgage People

Disclosure Statement available on request, free of charge.

How much of your mortgage should you fix?

2012-03-05T19:10:00.006-08:00

Now if I was a cynical man I’d wonder why all the bank economists are suddenly coming out and so called independently telling everyone to fix their mortgages.

The banks have been extremely competitive with each other of late and have been providing discounted rates and other incentives to retain existing clients and attract new ones, great for anyone with a mortgage or those requiring one.

By fixing the banks are locking customers into their client base which sometimes is not a good thing for clients, if for some reason you have to sell or you find yourself in a position of being able to reduce your debt or you want to rearrange your debt you could be up for significant costs.

We are not saying don’t fix but what we are saying is think carefully about the term you fix for and also how much of your mortgage you fix.

In the time you have a mortgage you are guaranteed to go through a few major life changing events, like getting married, having a family, starting a business, buying a bach, changing jobs... so, you want to make sure your home loan is structured to suit your lifestyle, with long term flexibility and short term certainty.

This is what mortgage advisers do best - focus on what you want and need, giving you the best possible home loan options and “advice”. We don't work for a bank we work for our clients - people like you. So please don’t hesitate to chat to us about your future plans and how these may be affected by fixing your mortgage long term...

CONTACT a mortgage adviser EMAIL a question

Written by Glenn Christie, Director - Mortgage People

Where to now with your mortgage

2012-02-13T19:08:00.000-08:00

If you're thinking where to now with your mortgage... the answer is Mortgage People.

Believe it or not it was back in September 2008 when Lehman Brothers one of the most respected banks in the world led the collapse of the American banking system that transformed into a global financial crisis (GFC) and ultimately word recession. However as they say the darkest hour is the one before dawn and a lot of people including ourselves believe that now is the time to look forward with optimism.

As you are aware, interest rates are at the lowest levels for many years and unless Europe falls over we are probably at the lowest for this period. Times like these present good opportunities for existing borrowers to reduce debt by repaying their loans faster – something we can show you how to do more easily. Likewise low interest rates also provide opportunities for first home buyers, people wishing to upgrade into a more expensive home or for those wishing to purchase an investment property. We are however led to believe from recent NZ Herald articles that there is evidence of a sharp tightening in property availability in the Auckland market and it is hard to see this situation improving given the low interest rates and the lack of residential development.

I would like to take this opportunity to briefly tell you about some of the additional financial services we can provide clients through Mortgage People.

Things don’t always go the way they are supposed to and for one reason or another you might find yourself in a financial jam, this could be through a multiple of reasons particularly at this time of the year when credit cards and other debt cause cash flow problems. If you find yourself in this situation then please talk to us about rolling all your debt into one monthly repayment. We have even helped people who have had credit problems and others who have been facing mortgagee sales!

Also if you are a small business owner don’t be suffocated by your bank if you are experiencing liquidity problems, have a looming tax bill, need a cash flow injection call us for a tailored business solution.

Finally look out for our new website which will arrive this month it covers everything we do including personal and business insurance, domestic fire and general insurance as well as commercial loans and personal loans for almost anything.

We value the relationship with our clients and will always put your best interests first and foremost so if you have any queries at all then please don’t hesitate to call your Mortgage People broker, myself or my fellow director Carey Brunel (DDI 361 0390).

If you are not a client of Mortgage People we welcome your call... freephone 0800 823 823.

Written by Glenn Christie, Director - Mortgage People Limited

Seasons Greetings from Mortgage People

2011-12-18T18:14:00.001-08:00

As another year nears an end, looking back reveals a period of mixed signals, the lows of an economic crisis, the highs of an exciting 6 weeks of world cup rugby and then the election! What will we all do now?

Thanks to you all for your support and for helping to make this year rewarding from allowing our team do what they enjoy most ~ making sure you are financially sorted & well protected.

Merry Christmas, happy & safe holidays to you and your family.
We look forward to seeing you in 2012.

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Office Hours
Below are the office hours over the christmas period; in case of emergency feel free to call freephone 0800 823 823 anytime for further information.

Friday 23rd December ~ Closing 3pm
Wednesday 28th to Tuesday 3rd January ~ Closed
Back to business from Wednesday 4th January 2012 ~ 8.30am to 5pm
Office Freephone 0800 823 823

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Fire & General Insurance - Claims & Help
For AON Stylecover Insurance Claims or Queries freephone 0800 505 152
For Lumley Insurance Claims or Queries freephone 0800 781 782

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Contact your adviser
To find your mortgage adviser's details click here

Taking advice from friends who mean well....

2011-12-12T13:50:00.000-08:00

Breakfast out is always a treat. Well nearly always……
"We were seated next to two ladies, who didn’t seem to mind who heard their conversation as they didn’t regulate their voices at all. That’s no big deal; I can do a pretty good job of toning out other conversations. Some words do trigger interest though and while I was doing my best not to listen to them I heard ‘can’t afford’, ‘what area should I look?’. Hmmmm, now I’m interested – trying not to be, but I can’t help it.

The other lady then started to spout forward her words of wisdom, and I became very uncomfortable in my seat. I started whispering to my husband “she doesn’t know what’s she’s talking about’. I was inwardly groaning and to my dismay my ability to tone out other people’s conversations completely escaped me.

And then! The ‘knowledgeable’ woman told the other one (who was frantically taking notes); she couldn’t go to an auction. I couldn’t help it! I interrupted their conversation, very politely, and asked did she have mortgage pre-approval. The ‘knowledgeable’ woman commenced to tell me yes her friend did have pre-approval but she was a first time home buyer and so she couldn’t go to auction."

Seriously!! It’s scenarios like this that emphasize the need to get your advice from an expert in the field. I personally have assisted first time home buyers to get a pre approved home loan and they have purchased at auctions without any problems. - Angela Peters, Mortgage Adviser at Mortgage People

RELIABLE ADVICE...
The key message to take from this is that friends mean well but are not necessarily right in their information; and their opinion is exactly that – their opinion not always fact... perhaps, not always reliable advice when you need it most. Buying a house is a really BIG deal - and just like you seek legal advice from a Lawyer or financial advice from an accountant so you should seek professional advice when it comes to getting a mortgage.

For free unbiased home loan advice you can contact Mortgage People anytime - more info

freephone 0800 823 823

OCR on hold...

2011-12-07T12:10:00.000-08:00

Once again the Reserve Bank Governor announces the Official Cash Rate is on hold for now, pushing out the timing of future rate hikes saying uncertainty in financial markets could force up funding costs for local lenders and is threatening to hinder New Zealand's recovery.

Earlier this year, Bollard indicated he was keen to remove the extra stimulus he added in response to the February earthquake, though that was put on hold as financial markets tumbled after the United States credit rating was downgraded and the Euro struggled with the high level of debt among some of its members.

Since the last monetary policy statement in September, NZ's sovereign credit rating has been downgraded by Standard & Poor's and Fitch Ratings due to the size of the country's external debt, though the Reserve Bank are expecting household savings to improve as people use the record low interest rate to repay debt and improve their personal balance sheets...

This is something that Mortgage People fully supports and as expected we are already working with many clients to better structure their debt and provide options on better debt management - now really is the time to take advantage of the low interest rates!

What you can control?
We can't control the globally uncertainty, but we can control our own financial situation and give ourselves financial certainty!

* How well do you know your budget - what you get, what you spend, what you could save?
* Is your mortgage structured to suit you or your lender?
* What term is your mortgage on?
* How old will you be when your mortgage is repaid?

Did you know:
At a rate of 5.75%, for an extra $250 per month per $100,000 borrowed you could HALVE your mortgage term. True.
This is something that you can most definitely control, with a little advice and guidance from Mortgage People.

Call us today to arrange your one on one meeting >>> freephone 0800 823 823
or Email us now and we'll be touch soon.

Interest Rate vs. Repayment Rate

2011-11-16T13:57:00.000-08:00

Have you been told that its not the interest rate you are paying,
it is the rate that you repay your mortgage...

In other words, the fastest way to see a reduction in your mortgage or to become debt free is not necessarily to have the lowest possible interest rate, it is in fact how quickly you can repay the debt - how much extra can you pay off your mortgage to reduce the loan amount?

Look at the graph above, it really does make an incredible difference to the overall term and interest costs of your mortgage if you have the ability to pay extra off your mortgage! "It all helps"... you and your family to become debt free faster.

Whether you pay extra off your mortgage constantly or periodically, or the amount differs from one month to the next - you can be assured of one thing - you will be debt free a lot sooner than if you just repaid the minimum amount for the next 30 years!

Why pay the lender (Bank) more in interest than you have too?
Do you know the term of your mortgage? If it is 20 years or 25 years - how old will you be by the time it is repaid? Young enough to celebrate and reap the rewards or ready for the retirement village?

Its really not rocket science - honest.
All you need is financial discipline (easier said than done...) and a professional adviser who sticks by your side over the years to ensure you stay on track no matter what life throws your way.

How to take advantage
You can't ignore the low home loan interest rates available today, to take advantage of this you need to have a close look at your budget - could you find a little or a lot of surplus money that could be directed to your mortgage?

Do you want to be debt free sooner but not sure what to do or where to start...
Does this sound like you?

Click here right now to book your free mortgage check
& find out just how much you could save and how soon you could be debt free!

Or you could just call us ~ freephone 0800 823 823

OCR unchanged at 2.5%

2011-10-26T16:23:00.000-07:00

Today the Reserve Bank left the Official Cash Rate unchanged at 2.50%, and for the first time did not give any clues as to when it may need to rise - other than saying the rate is on hold "for now" and should there be increased pressure on domestic resources their will be "future" OCR increases.

Industry commentary noticed that this announcement was short and sharp compared to the past. What could be seen as pleasing from this, is that it now looks highly unlikely that we will see any change this year to the OCR and perhaps no increases for the first quarter of 2012... resulting in, one hopes, fairly stable home loan interest rates for the next 6 months.

The caution to all of this however is the heavy cloud hanging over the European sovereign debt crisis which could cause further slowing in global activity - the negative affect on us down under is an increase in NZ bank funding costs over the next year or so.

At home, domestic business confidence has been a see-saw and has fallen back somewhat to earlier this year. As Governor Bollard says, "domestic activity has continued to expand at only a modest pace". Inflation has settled near 2% being lower than expected.

What to do?
If your budget does not have much room to move and an increased loan repayment would put pressure on your household -

- stay in touch with your mortgage broker or adviser;

- take note of information in the news and online;

- don't be afraid of asking "an expert" their opinion;

- understand your budget.

On the other hand, if you do have room in your budget to pay extra off your mortgage while interest rates are at an all time low - we'd recommend you definitely look at your options!

Look at this example:

Home Loan $350,000 at 6.5% over 25 years
If you pay an extra $150 each fortnight into you mortgage
You would shave 6 years off your mortgage term = which means saving $100,883 in interest !!

Free Review
Our team offer free reviews, to help you better understand your financial position now and to give you options to consider for the future - this includes your mortgage and insurance...

BOOK your review today email us or phone 0800 823 823.

Disclosure Statement available free of charge, on request.

Our flat lining OCR

2011-09-14T18:18:00.000-07:00

From this morning's OCR annoucement by Govenor Bollard it seems our OCR is to flat line at 2.5% for just a little bit longer. Welcome news for home owners that are currently sitting on the floating rate.

The good news as quoted by Governor Bollard "the New Zealand economy has been doing better than many others... domestic economic activity has surprised on the upside and capacity usage appears to have increased. Continued high export commodity prices and in time reconstruction in Canterbury are expected to provide impetus to demand over the projected horizon."

On the other hand the bad news as quoted "the outlook for New Zealand's trading partners has deteriorated markedly. There is now a real risk that global economic activity slows sharply."

What we need to watch is the deterioration within the global financial market. Sovereign debt concerns in Europe and the, once again, weakened global outlook have caused international bank funding markets to tighten... if this continues bank funding costs for us down under will increase!

In this latest announcement Governor Bollard says that we only need global developments to have a 'mild' impact on NZ and it is likely the OCR will need to increase!

Each and everytime there is an annoucement the FIXED vs. FLOATING debate rises amongst us all...

Things to consider in the Fixed vs Floating debate:

If interest rates rise do you have money in your budget to cover it?

Are you on a fixed income and financially stretched as it is?

Do you have the income to pay extra off your mortgage now?

Do you want to repay your mortgage as quickly as possible?

Is certainty of your budget critical?

If interest rates increase - how far could your budget stretch?

Doing some simple calculations now may help you better understand how far your budget can stretch and what the numbers do add up to in real terms like: what does a 1% increase mean to my monthly repayments - a lot or a little? What is the term of my mortgage - can I extend it and what will that reduce my repayment to?

ADVICE
When in need of advice on your mortgage it comes down to what is right for you and your family - a good mortgage adviser should always make recommendations based on your needs and wants - the final decision to fix, float or go interest only is always yours!

Free advice is only a freephone call away, for a chat call us anytime on 0800 823 823.

Disclosure Statement available on request and free of charge.

Attention - Self Employed

2011-09-14T17:13:00.000-07:00

This is something that has become a huge part of the services we're now offering through our sister company Insurance People and we just had to share it with all our Mortgage People followers because the results have been quite incredible...

It all starts with the clear message of who ... wants to save money on their ACC Levies?

If you are self employed or planning to become self employed you'll know that one cost you can not avoid is your ACC Levies... for most its like one of those 'grudge' costs, something we have no choice on - or do you?

Yes. Actually, when it comes to your ACC levies you do have a choice to decrease or increase your levies. Its called ACC CoverPlus Extra and our team of advisers are now fully trained and skilled in this area.

As each persons situation is completely different to the next, we're encouraging all self employed to make the call, contact us for a chat to see if your ACC is right for your current circumstances.

To find out more - click here to request your ACC Review.

PS: One of our first ACC reviews identified an incorrect classification code - we managed to get $4,000 back for the client from over paid levies! Now thats something that we don't hear of very often, and we can't promise to do this for everyone - but it is proving valuable for all our clients to check their options!

DO YOU KNOW...

How much you pay in levies?

The amount you'll receive in case of an accident?

What 'offsets' means and the effect this may have on you?

If you have the right ACC job classification code? If its wrong, it could be costing you!

THINGS YOU SHOULD KNOW...

ACC will only pay out if you have an accident, it does not cover illness.

Mortgage Repayment insurance covers you for illness and accident; and does not affect your ACC.

Income Protection gives you choice and certainty of income if unable to work due to illness and accident.

You do have a choice on how much you pay in ACC Levies.

We have direct access to ACC and can now review your ACC.

Our services are free and no obligation!

Do you want to ask a question? Email us.

Did you find this information helpful? Please PASS IT ON to anyone you know in business.

Mortgage People "as seen on TV"

2011-09-04T14:30:00.000-07:00

Check out our TV advert - currently showing on TV One and TV Two during September.

Are you a first home buyer?

Looking to refinance your current mortgage?

Need to consolidate debt?

What ever your need the team at Mortgage People can help you out. Contact us anytime to discuss your needs - freephone 0800 823 823.

Don't forget your friends and family - know anyone who is in need of help with their mortgage? Forward this blog and our details...

Disclosure Statement available on request and free of charge.

Interest Rates - What should I do?

2011-08-04T21:15:00.000-07:00

The question being asked right now - How long do I wait before I fix my interest rate?

Last week the offical cash rate (OCR) was left unchanged at 2.50% - which was expected. It was said that the domestic economy is stronger than expected but there are still concerns about the "current frugality in global financial markets".

It would appear now that most economists now expect the Reserve Bank to hike the Official Cash Rate (OCR) by 50 basis points from its current rate on September 15th, and both economists and the central bank itself expect the OCR and floating mortgage rates to rise by around 2-3 per cent over the next two years.

So, the question to ask would be... when is the right time for YOU to fix your interest rate? That is the key when it comes to locking your mortgage in for a fixed term - it has to be all driven by your circumstances and whats right for you and your family. Personallly, none of us can directly impact or control what will happen in the economy or with interest rates, so we need to work with what is on offer and choose to fix or float as it suits our situation.

Some questions to think about:

* Is your household income fixed - can you afford to pay more in to your mortgage if rates increase?

* Do you want to accelerate the repayment of your mortgage?

* Do you understand the impact of interest only?

* Can your budget afford an increased repayment amount if you fix at a higher rate now?

* Do you need certainty in your repayments?

* Do you want flexibility to borrow more and to make bulk repayments?

If you are unsure on what move to make and when - feel free to contact one of our mortgage advisers to talk this through.

Our services are free, and our team keep themselves up to speed with the latest eceonomic news, current offers and interest rates from the lenders. We'd be more than happy to help you with your home loan decision.

Another source of general information is the Sorted website - www.sorted.org.nz

Check us out here or freephone 0508 PEOPLE (0508 736 753)

Our disclosure statement is available on request, free of charge.

Official Cash Rate - WIN WIN

2011-06-08T18:15:00.000-07:00

The latest announcement would have to be a win win.

The Reserve Bank Governor said "The outlook for the New Zealand economy has improved since the publication of the March statement." That's a win!

The OCR has been held at 2.50%. That's a win!

There was also commentary on household debt which remains high so this will continue to hold us back from further retail spending for some time as we continue to focus on repaying debt. While interest rates are as low as they are, it is in our best interests to repay short term debt as soon as you can.

As half the year passes us by, the underlying message is to monitor interest rates closely, get the best possible advice along the way so that if and when you think you should fix your mortgage you are well informed to make the right decision at the right time.

Contact us anytime to talk about your situation, or find your adviser here

Freephone 0508 PEOPLE (0508 736 753)

Financial Advisers Act 2008

2011-06-08T16:43:00.000-07:00

For those of us in the financial services industry regulation has been at the front of our minds for a long time now and we are just about there, from 1st July 2011 the Act is fully in force!

What's this all about?
Well, the purpose of the Act says it all really - "This Act is to promote the sound and efficient delivery of financial adviser and broking services, and to encourage public confidence in the professionalism and integrity of financial advisers and brokers."

Advisers from Mortgage People have always worked to the vision and mission of our founding directors, and interestingly in a way they define what the Act is all about...

"Our group continue their focus on educating our clients on all products and services available to them; providing the best possible advice and direction to ensure each individual meets their goals".

"We strive to ensure our original mission is never lost, in essence it has always been about financial education, that is, we always wanted to help people - giving clients the high level of service and knowledge they wanted, needed and deserved."

In fact, regulation means a whole lot more to both clients and advisers. For example, if we are to give advice now we must be registered on the Financial Service Providers Register. This is a public register that anyone can view online via the companies office website (click here) to ensure that the adviser they have is abiding by the new laws. You'll find all of us on there, just search by adviser name.

ARE YOU AN EXISTING CLIENT?
If you are an existing Mortgage People client, then you'll be used to how we do things.... going forward you may notice a few changes. Don't worry you'll still get the good advice and service that you've always received but there may be a few more documents and forms that we go through with you. This is all about making sure we not only take the most appropriate care in providing you advice but also that we are held accountable to deliver the best possible service that you need, want and deserve.

We'll be commenting from time to time on this to help you better understand and of course, if you have any questions do not hesitate to contact your adviser or email us anytime.

If you think this information would be of value to someone else please pass it on!

Offical Cash Rate held at 2.5%

2011-04-27T21:41:00.000-07:00

Reserve Bank Governor said, "Given the outlook for core inflation and continued economic disruption stemming from the earthquakes, the current level of the OCR is likely to remain appropriate for some time."

Well, one might say that we expected this result, as most economists and voices within the media were predicting the OCR to remain as is... which ever way you view today's decision - if you have a home loan then it has to be positive! With the overall cost of living increasing we don't need our home loan interest rates rising too quickly.

Which brings us to the next question, what if anything will the banks do with their interest rates? We wait to see, lets hope there are either interest rate specials or perhaps a few decreases across the fixed rates that flow through to borrowers.

We publish the most up to date interest rates on our website, so check it out here or contact us.

If you want to talk interest rates, home loans, structures, fixed rate vs variable call Mortgage People today, don't wonder what to do next; talk to us and we'll help you find the right answer.

Freephone 0508 PEOPLE (0508 736 753)

OCR cut to 2.50%

2011-03-10T16:55:00.000-08:00

The big news for the day and to be fair it was expected by most of the banks economists... the Reserve Bank Governor cut the official cash rate by half a percent to 2.50%.

This is big news for all home owners and first home buyers as it prompted the banks to slash their floating rates within minutes of the announcement and it looks likely that the interest rates may hold steady for the remainder of the year.

If you have a floating rate mortgage or your fixed rate is due to expire now is the time to talk to your mortgage broker. Don't miss the opportunity to maximise the current low rates so that you and your family get the best possible financial benefits.

So, what is your "mortgage" plan for 2011?

Do you want 2011 to be better that 2010?
Where do you want to be and how are you going to get there?

Now is the time to think about what you want to achieve financially - Mortgage People can help you kick start your financial plan. We have a free online 'fact find' that will navigate you through your finances so that together we can rearrange your debts to improve your cash flow.

Want to talk to us now? Call free 0508 PEOPLE or email ...

OCR held at 3%

2011-01-26T12:46:00.000-08:00

The holiday's are over and its back to business...

Hot off the press is the latest Official Cash Rate ("OCR") announcement, and one of the key messages from the Reserve Bank Govenor's announcement this morning that we can all take on board is -

"As noted previously, while interest rates are likely to increase modestly over the next two years, for now it seems prudent to keep the OCR low until the recovery becomes more robust and underlying inflationary pressures show more obvoius signs of increasing."

At any time it really is an unknown as to where the interest rates will head; we can only be guided by those in the 'know' and make the decision that is right for us!

If you want to review your current mortgage to make sure your structure is maximising the current low interest rates - contact us today, why wait! You may just be surprised as to what we can do to help you on your way to financial freedom - and don't we all want that sooner rather than later?

Freephone 0508 PEOPLE (0508 736 753)

Visit us online here
or here - 30 Ponsonby Road Ponsonby Auckland

Official Cash Rate - unchanged

2010-10-27T17:36:00.001-07:00

Once again The Reserve Bank today left the Offical Cash Rate (OCR) unchanged at 3%.

Reserve Bank Governor Alan Bollard said "while it is appropriate to keep the OCR on hold today, it remains likely that further removal of monetary policy support will be required at some stage."

Further comment from the Governor stated that with the recent increase in the rate of GST, it is expected that the headline inflation will rise however the subdued state of domestic demand suggests the inflation spike will have limited impact on medium-term inflation expectations.

There was also comment on our household 'caution' when it comes to our spending and the housing market activity being 'muted'.

With this latest news if you are looking at how best to take advantage of the interest rates while they are low and remain steady give us a call and lets talk through the options available to you.

See our best interest rates here.

FIRST HOME BUYERS

2010-10-18T16:26:00.000-07:00

Great news...

Its a buyers market,
Interest rates are fairly low, and
The lenders have their 'spring campaigns' out with special offers!

All of this combined with the ability to use your contributions to KiwiSaver towards the deposit (if you've been in KiwiSaver for 3 years) add up to a great time to buy your first home.

Are you a First Home Buyer?

Do you know a First Home Buyer?

Our best tip : use a mortgage brokers knowledge, expertise and reputation with the lenders to get you the best possible deal!

As mortgage brokers - we work for you, our services are free as the lender pays us, and we'll negotiate the best possible interest rate and any fees that may apply! Plus, we walk you through the whole process and will deal with not only your lender, but your solicitor as well and any other professionals that may be involved!

You don't need to go it alone, if you have not used a broker before or may be you have - give us a call and find out about the Mortgage People experience; it'll cost you nothing and we'll do all the talking with the bank!

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