FAQ

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Frequently Asked Questions

How much can I borrow?

The amount you can borrow for home depends on several factors such as your income, your expenses, any other debt you currently have etc

How much deposit do I need?

If you are looking at buying your first home, you will require a 20% deposit. There may be some exceptions, such as through a welcome home loan scheme for first home buyers, you may only need 10% deposit. The deposit requirements can change at any time. Best to speak with us to know your options. 

What is LVR?

The Loan to Value ratio (LVR) is the amount of your loan compared to the value of your property. For e.g., if your property is worth $500,000 and you have a deposit of $100,000. Your LVR will be 80%. 

Why use a mortgage broker?

As a mortgage broker, we can negotiate the best deals for your directly with the bank. We also know which bank is going to suit your needs better. 

What is OCR?

The official cash rate (OCR) is the term used in Australia and New Zealand for the bank rate and is the rate of interest which the homogeneous central bank charges on overnight loans between commercial banks. 

Can I pay off my mortgage sooner?

This depends on your loan structure. We provide you advice on how to achieve your financial goals by structuring your loan that fits with your requirement. 

Can I use my Kiwisaver as deposit?

Yes, you must have been a KiwiSaver member for three or more years. You can only withdraw money to purchase your first home – not an investment property. If you have owned a home before, in some circumstances you may still be eligible to withdraw your savings. Best to check with your Kiwisaver provider. 

When should I review my mortgage?

Contact us if your fixed loan rate is about to expire or if there is a change in your circumstances that will have an effect on how you manage your loan payments. 

Can I get a loan if I am self-employed?

We can do an assessment of your financial position to see if you are eligible for a home loan. 

How much can I borrow as a business loan?

It varies from business to business. Each business have different level of risk involved and the lender assesses this risk and the deposit requirements varies accordingly. 

What is a premium?

Premium is an amount paid periodically to the insurer by the insured for covering his risk. 

What is cover?

Cover is the amount of protection your policy gives 

What is a policy?

A policy is the written contract between the insured and the insurer. 

What is an excess?

When you make a claim, you pay a small part and the insurance company pays the rest of the claim amount. Your part is called excess. In most cases, you can choose to pay no excess when you take up the policy by paying higher premium. 

What are your fees?

For the majority of our clients, there is no fee charged. We work with the banks and they pay us. 

Speak to the experts for all your mortgage and insurance requirements

How much can I borrow?

The amount you can borrow for home depends on several factors such as your income, your expenses, any other debt you currently have etc

How much deposit do I need?

If you are looking at buying your first home, you will require a 20% deposit. There may be some exceptions, such as through a welcome home loan scheme for first home buyers, you may only need 10% deposit. The deposit requirements can change at any time. Best to speak with us to know your options. 

What is LVR?

The Loan to Value ratio (LVR) is the amount of your loan compared to the value of your property. For e.g., if your property is worth $500,000 and you have a deposit of $100,000. Your LVR will be 80%. 

Why use a mortgage broker?

As a mortgage broker, we can negotiate the best deals for your directly with the bank. We also know which bank is going to suit your needs better. 

What is OCR?

The official cash rate (OCR) is the term used in Australia and New Zealand for the bank rate and is the rate of interest which the homogeneous central bank charges on overnight loans between commercial banks. 

Can I pay off my mortgage sooner?

This depends on your loan structure. We provide you advice on how to achieve your financial goals by structuring your loan that fits with your requirement. 

Can I use my Kiwisaver as deposit?

Yes, you must have been a KiwiSaver member for three or more years. You can only withdraw money to purchase your first home – not an investment property. If you have owned a home before, in some circumstances you may still be eligible to withdraw your savings. Best to check with your Kiwisaver provider. 

When should I review my mortgage?

Contact us if your fixed loan rate is about to expire or if there is a change in your circumstances that will have an effect on how you manage your loan payments. 

Can I get a loan if I am self-employed?

We can do an assessment of your financial position to see if you are eligible for a home loan. 

How much can I borrow as a business loan?

It varies from business to business. Each business have different level of risk involved and the lender assesses this risk and the deposit requirements varies accordingly. 

What is a premium?

Premium is an amount paid periodically to the insurer by the insured for covering his risk. 

What is cover?

Cover is the amount of protection your policy gives 

What is a policy?

A policy is the written contract between the insured and the insurer. 

What is an excess?

When you make a claim, you pay a small part and the insurance company pays the rest of the claim amount. Your part is called excess. In most cases, you can choose to pay no excess when you take up the policy by paying higher premium. 

What are your fees?

For the majority of our clients, there is no fee charged. We work with the banks and they pay us. 

Speak to the experts for all your mortgage and insurance requirements