First home buyers

Cam's Blog

What happens when interest rates bottom out?

Plenty of talk recently about interest rates falling further.  I reckon the talk is right. But how low will they go? Will mortgage rates go under 3%?  I see rates wobbling down around 3 to 3.5% and that’s about it. The slide will … Read more

What have interest rates got to do with the price of broccoli?

With the RBNZ announcing (last week, May 8th) that they’re lowering the Official Cash Rate to 1.5%, it’s a fact that borrowed money has never been cheaper in New Zealand. I can hear you rejoicing. And why not? It means your existing mortgage … Read more

The issue of consent: Always a deal breaker

Eighteen months ago, I wrote a post which talked about the problem of houses with unconsented works. You can re-read it here if you like. To be blunt: The problem hasn’t gone away. If anything, it’s worse now than what it was then, so I feel the … Read more

Bank statements: the mortgage broker’s crystal ball

Mortgage brokers are often asked if we have crystal balls that we use to see the future. This question usually pops up when interest rates (or how best to set-up your loan) come up for discussion. Which is quite often in this line of work. The … Read more

The gap between expectation and reality = OPPORTUNITY

When a property market changes there’s always a lag between that point and when market participants figure it out. Interestingly, participants never figure it out at the same time, which always creates tension. And tension is just another word for … Read more

Banks say credit rationing is a myth: Yeah right

If it walks like a duck, farts like a duck and makes a great confit like a duck, then it’s gonna be hard to call it anything else. Yet that’s exactly what a couple of bank CEOs would have you believe. Sorry, gents I’ve got to take you to task … Read more

Getting a proper pre-approval

Following on from last month's post about moronic home loan pre-approvals, I thought I’d throw a word of caution out about the limitations of a quality mortgage pre-approval. Yes, sorry to say, there are some. Obviously, a real pre-approval is … Read more

The art of not looking dumb: Getting the right mortgage approval

Let’s say you used the mortgage calculator on my website. Let’s also say that you got a positive result and your numbers suggested strongly that you really, truly, honestly were in a position to borrow a stack of money and buy a house. Would you go … Read more

A window for first home buyers – but how far will it open?

  I like Peter Thompson of Barfoot and Thompson fame. This week he was quoted by NZ Herald and Radio NZ as saying that first home buyers should be exempt from the requirement to have a 20% deposit, provided the purchase price is under … Read more

AUCKLAND PROPERTY MARKET: A buyers’, sellers’ or bankers’ market?

September 2016 put a real dampener on the Auckland property market with the announcement from the Reserve Bank of a 40% deposit required by investors. Slowing things down for first home buyers was its direct intention and this legislation has … Read more