Mortgage & Insurance New Zealand Limited
“We are all your mortgage & insurance solutions in one”
Main Menu
Mortgage Calculator
Loan amount:

(Use "." for Decimals)
Duration:
years
Interest rate:
%
Monthly repayments:
NZD
Total to be re-paid:
NZD
Help
Client Testimonials

"My wife and I wish to express our sincere gratitude to Andre and the staff at MAINZ Limited.
In just a bit over five years, and sometimes when not following the regimented savings advice of Andre, we have reduced our debt from over $200,000 to ZERO - We have gone from Mortgage to Freehold and want you all to know that it is achievable.  We are also grateful for the continuing advice that Andre offers us on financial matters, even to the point of making international calls from New Zealand if we happen to miss him on the phone.  We wish Andre and all of his clients the best financial outcomes possible."
Colin and Eunice Elvey, New Plymouth (Now in Australia)

Welcome Home Loans

Owning your own home will be easier than you think

If you’re like most Kiwis, you’d love to own your own home rather than rent someone else's.

The hard part is that sometimes it is easier dreamed than done.A Welcome Home Loan could make your dream come true.

There are some standard eligibility criteria to make sure that Welcome Home Loans go to the right people.

Maximum Income:

  • For 1 or 2 borrowers you can have a maximum household income of $85,000 per annum.

  • For 3 or more borrowers you can have a maximum household income of $120,000 per annum.

Deposit:

  • No deposit will be needed to buy a house up to $200,000.

  • For houses from $200,000 to $280,000, you will need a deposit of 15% of the amount above $200,000. For example, on a loan of $250,000, you will need a deposit equal to 15% of $50,000, which is $7,500. The deposit can be gifted.

Maximum amount of a Welcome Home Loan:

$280,000

The maximum loan amount that can be borrowed under the Welcome Home Loan, will rise from $280,000 to $350,000 in high priced areas such as Auckland and Wellington from November.

There are standard eligibility criteria for Welcome Home Loans:

  • The Welcome Home Loan is for owner-occupied properties only. It is not for rental properties.

  • Borrowers must not own any other property.

  • Currently you cannot use a Welcome Home Loan to build a home.

  • Applicants need to either be a New Zealand citizen, or have permanent residency with a Indefinite Returning Residents Visa

  • Be able to afford the repayments of the home loan plus any other debts they may have.

  • Have a good credit record.

  • Meet any other criteria that the lender may apply.

Borrowers may need to pay fees such as an application fee and a Lenders Mortgage Insurance premium fee of 1% of the loan amount. But in most cases these can be built into the home loan.

Enquire Now

new home doorway

 
MAINZ Newsletter

Click here to subscribe & we will keep in touch with you

Name:

Email:

Enquiry Forms
Andre's Blog

Many commentators, earlier this year, were saying that interest rates may go up 4 to 5 times in 2010. One bank economist was predicting that interest rates may have starting rising back in March. This did not happen and so far this year we have had only one interest rate increase. My view is that interest rates may not go up that much more this year. New Zealand’s economic recovery, which is happening slowly, can best be described as fragile. We have had the European debt crisis which took many by surprise and caused the world share markets to dip by 15%. They have since recovered a little bit in recent weeks. There is some talk that the Chinese economy may slow down as well. Given this and the fact that governments around the world still want to support their economies, interest rates are set to remain relatively low for sometime yet.  The Reserve Bank will likely lift the OCR this Thursday from 2.75% to 3.00% and this is likely to lead to a response to increase floating and 6 months rates by up to 0.25%.
Weblinks
Kiwi Saver Allied Kiwi - Mortgage and Insurance Solutions Professional Advisors Association Inc The National Partnership

Copyright © 2010
All Rights Reserved.

Web Vine