Getting a mortgage is a big deal and a big responsibility. When buying a property, making sure you can protect what you’ve worked hard to secure is just as important as picking up the keys. Some insurance is required by your bank, while other types of cover are just smart to have – especially if…
Category Archives: Mortgages
While the implications of Official Cash Rate (OCR) cuts vary depending on individual circumstances, most borrowers can agree that when it comes to mortgage interest rates, lower is better! The OCR is a tool used by the Reserve Bank of New Zealand (RBNZ) to influence economic activity and inflation. When the OCR is high, borrowing…
Finally, it seems that interest rates are on the way down, so what’s the best way to manage your mortgage? Fix, float, or a combo of both? The pros and cons of fixed vs floating rate mortgages Fixed rate mortgages A fixed rate mortgage locks in an interest rate for a specific period of time,…
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Getting ahead with your personal finances
This article was first published in the June 2024 issue of MTA’s Radiator Magazine. The current economic conditions can be tough on your personal finances. But as Moneybox Lending Advisor Kirsty Williams explains, there are ways you can ease the stress – and even take advantage! Despite the economy cooling, we’re still far from the…
If you’re ready to move but struggling to decide whether to buy first or sell first, we get it. You need to sell your current home to fund the purchase of your next one. But the seller of your next home might be reluctant to wait for your current place to sell. This is especially…
Refinancing – also known as remortgaging – allows you to replace your current mortgage with a better one so you can save on interest, borrow more, or pay off your home loan faster. Refinancing involves paying off your existing loan and then taking out a new home loan with a different bank or lender. The…