Half a million home loans up for renewal in June

[donna]

500,000 home loans up for renewal next month. If you've found the renewal process a tad long recently it may get more so with so many homeowners scrambling for the best rates all at the same time!



We're all looking forward to spending less on loan repayments. $300 a fortnight...

[donna]

A good update on housing and loans...

[Chris W]

https://tmmonline.nz/article/9765233...of-new-zealand

The non-bank lender will stop accepting new home loan applications from 1 July, but will continue servicing existing clients and those with applications in the pipeline.

Resimac chief executive Scott...

[donna]

Well, we didn't expect this happening this side of Christmas.....

A mortgage rates war coming? (I hope so ). It's a race to the bottom - come on banks you know you can do it!

cheers,

Donna...

[donna]

Hi all,

NZBA say 43% are ahead of their mortgage payments, while 1.4% were behind. (Doesn't seem that bad!).

However there was a steep increase in the number of mortgage holders applying for hardship relief.



The average loan value for FHB's is much...

[donna]

Soon Lenders won't need to know about your daily spending and variable expenses like Netflix subscription and gym membership. This will be a huge relief to home buyers and mortgage brokers.

Plus there may be more revisions too as the review into the CCCFA is ongoing.

Shame...

[Platinum Mortgages Broker]

WHAT DO LENDERS LOOK FOR IN A HOME LOAN APPLICATION?

What do lenders consider when assessing a home loan application?

When preparing to apply for a home loan, it can be helpful to think in terms of what the lenders will look for. You can then determine how your own situation...

[donna]

This is interesting - a couple sell their second home (an IP by accident) - hoping to use the profit to renovate their own home. Bank doesn't disclose that they will take half the profit and to reduce their own home loan. Mortgage broker says - don't worry - he's confident bank's move will be reversed...

[Rohb]

Hello Everyone ,

...

[brokerman]

Just read through them and lost the will to live. I pity borrowers who don't tick all the boxes and please please stay away from 'buy now pay later' providers. It's hard enough already for first home buyers, these don't make it any easier.

[donna]

Hi All,

I think this is worthy of discussion. Here is s family that has a combined income of $8700 per month and repayments of $4000 (45.9%). Their lender says they can afford the repayments and they've not been given proof of hardship. Now the borrowers face mortgagee sale of their...

[OnTheMove]

Looking at some of the amazing rates out there at the moment, but also listening to all the talk about rates rising.

Heartland Bank are offering great deals, ie 1yr 1.85%, floating rate 1.95%.

They do not have a S&P rating, only a Fitch of BBB.

What is the...

[donna]

Reserve Bank Mr Orr says property investors may be debt to income tested as another mechanism to stop property price growth. (was on One News 6pm).

Would this be for existing loans that come off fixed terms as well as all new loans? Maybe interesting times ahead .

cheers ...

[Frezzinghot]

As you move up the property ladder, the inevitable begins to happen, you get to 3,4 5 properties and soon servicing starts to become an issue, what are some of the best ways to keep going forward with lending so that the banks stamp approved on your mortgage applications. We have our properties in Auckland...

[JohnDavis]

Hi there,

Does anyone have their structure setup with an offset mortgage.

I have about 200k that i would like to use to offset against an LTC.
Kiwibank flatout refused stating that you could offset against an LTC whereas other banks seem to allow it but the offset...