As Kiwis we are great at D.I.Y. However, just because you can fix a hole in the wall does not automatically mean you’ll be good at structuring a huge mortgage debt, let alone convincing a bank to lend to you in the first place.

We live in an age of increasing regulation and when you mix “regulation” and “banking” it invariably means that rules get tightened and lending is harder to get. It is a common misconception that banks exist to hand out money. The fact is they have already handed out a lot of money and their primary driver, especially in times of uncertainly, is to manage the risk of the money they have already approved way more than worrying about handing out more. You and I believe that getting that perfect house is the most important thing in the world, the bank does not.

So, the first reason you should care about getting advice is simply to obtain a mortgage from someone who is willing to lend it to you. What does not work is going to bank after bank. You go to bank number 1 and apply for a loan, the first thing that happens is a Credit Check, you go to bank number 2 and they do the same. The second bank sees you have already been to another bank and this means one of two things – bank number 1 has declined to loan to you or, they’ve approved you and you are going to play them off against each other. Adding to this, the Credit System sees you have applied for a large amount of lending – twice - and this negatively impacts your Credit Score.  

The second reason you should care about financial advice is loan structure. If you were in the business of lending money, would you want to be coaching people borrowing from you how to pay the least amount of interest? Of course you wouldn’t, but that is exactly the position you are in as a borrower when it comes to defaulting to the standard lending facility the bank offers, or even when you re-fix directly with them.

Above are just two of the (simple) reasons why financial advice is important when it comes to getting - and structuring - a mortgage. Don’t make the mistake of thinking that you can do a good job yourself just because we all grow up surrounded by bank advertising.

As Mortgage Advisers, we are here to help – no matter how big or small the deal.

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The New Zealand Government has passed a new law that bans foreigners from buying property. In an effort to tackle unsustainable house price growth in Auckland, the Labour-led Government has completed its election campaign pledge and banned many non-residents from buying existing homes. With median house prices already starting to slip, this move could deepen and lengthen the housing market correction and make it easier for new buyers to enter the market.

In a modern world that is increasingly full and materialistic, it's no wonder that we find ourselves surrounded by more and more clutter. While the first and most powerful step in de-cluttering involves buying less stuff, there are lots of practical things you can do to organise your existing possessions and make more sense of your personal space. Whether it's putting away the laundry before it piles up or taking time to clean up after the kids, it's important to value your space and have a regular de-cluttering schedule if you want to avoid a messy and dysfunctional home.  

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The midlife crisis has been partially explained in recent research, with our happiness said to follow a distinct U-shaped curve that bottoms out in our 40s. While only about 10 percent of men, and even fewer women, actually experience a full-blown midlife crisis, our middle years are the time when our happiness is tested the most. There is some good news, however, with the general unhappiness experienced in our 40s and early 50s almost always improving in the decades that follow.