Seasons Greetings from Mortgage People
Sun, Dec 18 2011 06:14
| first home buyers, mortgage people, Mortgage advisers, Mortgage Refinance
| Permalink
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
Comments
Taking advice from friends who mean well....
Mon, Dec 12 2011 01:50
| first home buyers, home loan, Mortgage advisers, Mortgage Refinance
| Permalink
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.
"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...
Wed, Dec 7 2011 12:10
| debt free, OCR, Mortgage advisers, Mortgage Refinance
| Permalink
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.
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
Wed, Nov 16 2011 01:57
| debt free, Repay home loan fast, Mortgage Refinance, home loans
| Permalink
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
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%
Wed, Oct 26 2011 04:23
| Offical Cash Rate, OCR, mortgage rates, home loans
| Permalink
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 -
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
Wed, Sep 14 2011 06:18
| OCR, mortgage rates, home loans, interest rates
| Permalink
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!
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!
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?
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
Wed, Sep 14 2011 05:13
| insurance advisers, Early Mortgage Repayment, income protection, self employed, acc
| Permalink
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.
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"
Sun, Sep 4 2011 02:30
| first home buyers, home loan, Mortgage Refinance, debt consolidation
| Permalink
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?
Thu, Aug 4 2011 09:15
| OCR, fixed rates, home loans, interest rates
| Permalink
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.
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
Wed, Jun 8 2011 06:15
| Permalink
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)
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)
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