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You might’ve heard the term “usable equity” and wondered what it actually means. Let’s break it down. Simply put, usable equity is how much of the equity in your property you can tap into or “use.” How do you figure it out? And what can you use it for? To calculate usable equity, you need…
One of the most common ways first home buyers pull a deposit together. Help from the Bank of Mum & Dad. If you’re lucky enough to have parents (or anyone, really) who are willing and able to chip in, it can make a huge difference. Here’s why gifted funds matter: They could get you over…
Can you get a mortgage while on parental leave? Short answer: Yes, you can. Longer answer: It depends what bank you’re with and when you’re planning to return to work. Here’s how it works: Most main banks are open to lending if you: Are returning to work within 3 months (or thereabouts); and Can provide…
Yep – and sometimes its a smart move. When you’re sorting your home loan, whether it’s brand new or coming up for refix, you don’t have to wait until the settlement or rollover date to lock in your interest rate. You can generally fix it in advance, and it’s called rate-locking. Why would I…
Yeah… but probably not in the way you think. There’s a bit of confusion out there about how credit scores work in New Zealand — and fair enough, it’s not exactly crystal clear. A lot of people think you need to take out a credit card or personal loan to even have a score. Not…
Good question. Here’s the straight-up answer: We’re here to make your life easier, your mortgage smoother, and your first home dreams more doable. We’re on your team from day one — and we don’t disappear when things get tricky. Here’s what we actually do for you: We boost your chances of approval We know what lenders…
If you’ve got some extra cash lying around, maybe a bonus, inheritance, or savings you’re not using, you might be wondering if it’s worth throwing it at your home loan. Short answer: It can be a great move. Slightly longer answer: It depends. Here’s what you should weigh up before making that call: The benefit…
Yes, they potentially can to help improve your equity position. But like most things in the world of mortgages, it depends on how it’s structured and whether you meet the banks’ criteria. Let’s break it down. How does parent-assisted lending work? In most cases, your parents (or another close family member) can support your home…
Thinking about making a lump sum payment on your mortgage? Good on you – but depending on your loan setup, the bank might charge a break fee. Let’s unpack what that actually means, and when it applies. What is a break fee? If you’re on a fixed rate home loan, banks lend you that money…
When it comes to buying a home, a 20% deposit is the magic number that banks love. It’s their comfort zone. But if you’ve got less than 20%, don’t stress. You can still buy a place to live in. It just means you fall into what’s called High LVR (Loan-to-Value Ratio) lending, or what banks…
