The ideal time to work out your finances is when you first start thinking of building. Knowing how much money you can access will provide you with certainty. The various lenders in the NZ market offer a range of lending options. 

These are tightening, so perhaps now is when you should be talking to us if you have a build in mind. We may be able to help you with:

• Borrowing up to 95% of the house and land value
• Not having to make any loan payments until you move in
• Borrowing extra funds for furnishings and finishing touches
• Paying interest only on the amount of money you have drawn down to pay the build

So once again, do talk to us as we have the contacts, and can in most cases negotiate a lending package that is better than you can get as a walk in customer!

With many young adults leaving home for University or exciting career prospects, supporting them financially if things go wrong can be an incredible strain on your pocket. Up until now there has been little in the way of insurance for people that RENT and have regular bills. They are just as exposed as those with families & mortgages if their health takes a hit. 

HOUSEHOLD EXPENSES COVER Allowing for the fact that many of us at some stage will face a specific injury or illness that will affect our ability to earn income, this insurance provides an option that is similar to Income Protection Insurance. 

It is a specific amount that pays for such things as RENT, PHONE, WATER, ELECTRICITY, GAS, INTERNET and PAID TELEVISION, and we know how important those last two items are! 

So instead of bailing them out, consider shouting them or encouraging them to buy some insurance that supports them so you can concentrate on just being there when they need you.

A previous newsletter stimulated some interesting conversations around the accessibility of KiwiSaver to purchase a first home. Our article highlighted some of the criteria and rules surrounding the use of KiwiSaver Funds. Two points need to be expanded on and clarified:

To obtain the subsidy people have to apply to Housing New Zealand at LEAST SIX WEEKS BEFORE settlement date. Failure to do this may result in you not receiving the subsidy amount as a consequence. Please also be aware the portion of funds that have been contributed by you and your employer ARE AVAILABLE to use as your deposit. The Government contribution funds are not available to use. 

Whilst you are able to use your employee/employer contributions to form either all or part of your deposit funds when purchasing a first home, it is important to note that these funds can only be made available on the date of settlement. They are paid by your KiwiSaver provider direct to your lawyer and can only be used as part of your funds to purchase a property. 

There has been a tightening of lending criteria for 90-95% loans. With fewer lenders in this category, do talk with us BEFORE you make a move to avoid the stress and disappointment of having a loan turned down. In line with Government budgets, Welcome Home Loans criteria has also become more restrictive. Once again this is an area that we are experienced in, so book a time with me and we can discuss your options.

Leaving Insurance until it is too late?

‘There are two kinds of people!’  I have discovered this fact since I have been involved in the insurance industry.

The first kind are people that ‘get it’.  They understand their value, their risk and they understand that insurance is simply the method by which they protect their most important asset – themselves!

These people understand that their health, their ability to earn an income, theirs and their families futures, are worth protecting.

 And then there are the other kind of people ……….

People who either don’t understand or don’t want to think about the 'what ifs'-  What will happen if I get sick?  What happens if I can’t go to work?  Who will pay the mortgage, pay the bills, feed the kids?

These people seem to think ‘it’ will never happen to them.  But unfortunately ‘it’ does happen, to people just like them.  These who are protected by insurance at least give themselves and their family the benefit of financial support.

I have had the personal experience of meeting people who have been tragically affected by illness or injury.  Some had adequate insurance cover, some didn’t.  The potential futures of those with as opposed to those without insurance couldn’t be more different.

So as we head into Christmas, I’m making a personal plea –regardless of whether you speak to me or someone else.  Please consider insuring your and your families most important asset – You!

Scott

The saying – You don’t know what you’ve got ‘til it’s gone, can often apply to more than just a love relationship!
It can and does apply to two other crucial items in your life- your money and your health. Lose one of these and things can get a bit tough. But there are fairly simple methods to fix these.

The first is know what you value and its worth and then insure it.

Just as a violinist insures their hands, you should insure the manner in which you earn an income.

Just as your children are precious to you, you should ensure that there is enough money in the bank to support them should something happen to you.

Just as being able to get specialised medical support when you need it has an almost priceless value when you are faced with a tough situation

And you can get insurance from anywhere.

What you can’t get though is what we offer and this provides a value to money that others just don’t provide.

We manage the paperwork process – not just at sign up time, but more importantly at that other crucial moment – CLAIM TIME

We process your claim. When others might tell you to ring an 0800 number we make the time to do this ourselves- that's our job!

We check the paperwork is completed correctly minimising that dreaded paperwork backwards and forwards process

We also submit the claim to the insurer, removing the stress from you about getting mail in the post.

Then and most crucially we follow up to make sure it is being actioned, that it is being sorted on your behalf, this includes going right through until payments have been made to the appropriate parties, including you if that is the claim.

So if you want to be able to rely on the person that helped you find the most appropriate insurance policy for you, and want that person to be the same person or team that supports the claim process with you, then talk to us!

This is where we provide the real value of money

We have to ask – do you just think of us as the team that organises a mortgage? Or do you see us as one of your key lifetime advisers that you talk to regularly when it comes to making financial decisions?

As a trusted financial adviser for many, Wayne Oliver works alongside people, just like you not just once when he arranges mortgage finance, but further down the track when re-fixing, refinancing, re-structuring or when there is a need to change the manner in which you pay your mortgage.

Because of strong connections developed with the various lending institutions, Wayne can more often than not get you a better deal than just the rate card deal you will get if you approach the bank directly yourself.

Wayne’s a tough negotiator and provides the added value of

• Ensuring the correct paperwork is completed – saving you multiple trips to the bank
• Makes sure that the interested parties are fully aware of the changes required and actioned speedily and accurately
• Following up to make sure you are completely satisfied with your mortgage arrangements

After all, you are the customer!

Wayne can, as your ongoing financial adviser offer support, direction and referral contacts (if necessary) around the various aspects you might need to consider including Wills, Trust Deeds, Powers of Attorney and the like. But more than this, Wayne is that key person just to bounce ideas off of. Someone to talk things over with and that someone who can help you make your own independent financial decisions based on fact, accuracy and based on over 40 years financial experience!

Chase suffers with cystic fibrosis a daily focus on keeping his lungs healthy. Chase has a HUGE dream of heading to New York to experience both a white Christmas as well as spend some time with previous PM Helen Clark at the UN! So to help his venture a little Scott and a bunch of guys made their ride in the Contact Great Lake Cycle Challenge count a little more and raised over $2,000 towards Chase’s dream It was tough going with high winds and a course that challenges the best! The criteria for sponsorship was that the entire team had to complete the race of 160kms - and they did!

Just like our role in helping you achieve your property goals we were proud to support this young man. Go Chase!

Yes the banks want business and they are changing some of the benefits and throwing in a few tempters along the way. So what can you do if you are fixed?

TALK TO US.

With a little investigation we can help you determine if the benefits you are (or in many cases – aren’t) receiving are worth your while. And yes we have gotten free iPads for clients and cash for clients - it’s all in a day’s work!

We are taking on new clients so if you know of anyone that is needing a mortgage or insurance
– get them to call us! We are able to obtain some excellent interest rate offers regardless of the extra giveaways.

*Conditions apply – not ours, the banks!

• Removal – moving furniture and goods
• Power – disconnection and reconnection fees – and if a new customer often a bond
• Phone - disconnection and reconnection fees – and one month in advance is typical
• Post – telling everyone where you now are – this has reduced with the power of social networking though!
• Ongoing Costs – after you have moved in Insurance – house and contents
• Rates – (both local body and environment and set by councils with whom you have little negotiation or control over)
• Utilities – water, power, communication

So our biggest tip – let us negotiate up front with the lender on your behalf saving you money which you then have for other costs that you know will occur.

Actually no one, we just wanted you to read this section! For those of you that have bought and sold you’ll understand this section, on the REAL costs of moving.

These costs are often overlooked and can cause the most stress, and for new home buyers this is when the subsidy mentioned earlier – counts, and can make the biggest difference to your first property purchase!

When you buy a house or property, it’s not simply the cost of the actual property that you need to account for:

• Registered valuation report - required for over 80% borrowing $450-500 (approx.)
• LIM report $170-200 (approx)
• Lawyer range from $800-1,250 (approx)
• Builders report - required in many cases : $300-800 (approx)
• Potential Total Additional costs $2,750