FREQUENTLY ASKED QUESTIONS

We know that navigating lending and property decisions can raise a lot of questions. Below you’ll find answers to some of the most common queries we receive about mortgages, refinancing, investment lending, and more. If you cannot find what you are looking for, our team is always happy to help.

How much does it cost to use a Mortgage Adviser?

Normally nothing, in fact we can often save you money. In most cases the lender will pay us a commission once your loan settles. This pays us for all the time and effort we put in for you. In some cases this may not be the case, but if a fee will be charged to you this will fully disclosed upfront.

Hey, I’ve got an offer accepted, what do I do?

Congratulations. Please send me a copy of the sales and purchase agreement. Your lawyer will also like a copy.

Please also obtain a property insurance quote and forward me the email they send you. I will look the rates up online and send this all through to the bank. They will then reply letting us know they agree the property is still affordable.

If you’ve got less than 20% deposit, buying a new build or buying via private sale I will need to order a Registered Valuation for you via the banks approved system and then send you the payment link.

The bank may also ask for a copy of the building report, EQC docs or other reports.

If you’ve got outstanding conditions such as

paying off and closing a debt, credit card or Afterpay facility.
providing a boarder a boarder agreement
Providing a gift certificate
Whatever else is written on your pre-approval letter

Once the bank signs off on all of this we will get an unconditional letter of offer from the bank. We will send you a copy of this and your lawyer will like to read this before they’ll let you go unconditional and confirm the purchase.

We will then need to set up a mortgage structure meeting. In this meeting we will discuss your mortgage structure options in detail and draw pictures to help you understand these. We will also discuss your interest rate options and what the pros on cons of each are. We then lock in your mortgage structure and order your loan docs.

How do we start the house buying process?

It is advised to start your home buying journey by reaching out to a mortgage adviser. We can have a look at your situation and number and advise a path forward. From here we may be able to submit a pre-approval application for you. If you don’t fit the criteria for a pre-approval we can advise how much you can afford to purchase for and then submit an application on your behalf once you have an offer accepted. Alternatively if you’re not quite ready to purchase, we can help you make a plan to get into the position to get approved in the near future.

Why use a mortgage adviser, why not just go to the bank?

When you meet with a mortgage adviser we have access to multiple banks, servicing calculators and multiple lending criteria. When you meet with a bank they have access to just their calculator and criteria. We use our large suite of lenders to find the best fit for you. This could be the bank with the best calculator and criteria for you, it may mean the bank with the best offer for you, or it may be the bank that has the best banking products for you. We can also give you financial advice the bank can’t, such as how to structure your mortgage to reduce your interest costs.

When is the best time to contact a mortgage adviser?

How much deposit do I need?

What costs are involved in buying a first home?

While our services are completely free, there are other professionals you’ll need to work with when buying a property. To help you plan your budget, here are some approximate costs you can expect:

Lawyer: Your lawyer or solicitor will handle the property transaction, manage your Kiwisaver (if applicable), and take care of the title transfer and the exchange of funds between you and the seller. Their fees typically range from $1,500 to $2,500, depending on the property.
Registered Valuation: The bank may require a registered valuation, and we can guide you through this process. Valuations usually cost between $800 and $1,200, depending on the property, and we can arrange this for you.
Builder’s Report: It’s a good idea to have a builder inspect the property before finalizing your purchase. They’ll check the structural integrity of the house, the quality of the cladding, and other important factors. A builder’s report typically costs between $400 and $800.
LIM Report: A LIM report is ordered through your council, typically however your lawyer will order this, then read it for you and make you aware of anything of significance. It is a comprehensive report that contains all relevant information the Council knows about a property, such as boundaries, zoning and consents. This will typically cost you $250 – $700

Get In Touch

If you want to get in touch with us for any questions, fill out this form.

Alternatively you can book a meeting in one of our advisors calendar directly under “Meet The Team” section at the top of this page.