Welcome to mortgagehq, your trusted partner for navigating residential borrowing. Are you considering the freedom and simplicity of tiny home living?  Look no further.  We understand that financing a tiny home can present unique challenges, and that’s where we come in. Why Choose MHQ for Tiny Home Finance? At MHQ, we specialise in tailored financial solutions, and tiny homes are no exception.  Here’s why we’re your ideal partner: Expertise:  Our team of seasoned mortgage advisors boasts extensive experience in the New Zealand housing market. We understand its nuances, in ..read more

New builds are generally an attractive opportunity to investors, there are fantastic mortgage options for new build properties. You’ve got yourself a few financial benefits from choosing a new build over an existing property, such as a lower deposit. You also have the potential for a lot less stress as well, what with no maintenance costs to consider for at least a decade.  Of course, there’s an opportunity cost for choosing a new build over an existing property. Every decision we make in life has its advantages and disadvantages. If you are an experienced property investor, you might see ..read more

If you didn’t already know, (it’s OK if not, that’s what we are here for!), but there is more than just the one way to pay off your mortgage. We briefly touched on the different types of repayment structures that you can choose from in this article. One of these ways is an offset mortgage.  When used correctly, an offset mortgage account can speed you into financial freedom faster than you ever thought possible. For those of you who are organised and disciplined, or in other words, eager to achieve your goals, this might be the repayment structure made for you.  Just because a standa ..read more

Whether you are buying a house in New Zealand for your family, or another for the property portfolio, there’s a process to purchasing property here in New Zealand that you need to be aware of. The house buying process is relatively straightforward, although there are many factors involved as you work through each step.  Delays, competition and miscommunication can frustrate the whole affair, so if you haven’t bought property before, and this is good advice for seasoned investors as well, don’t try to avoid a few of the necessary expenses just to save a bit of coin. A mortgage broker who k ..read more

Got plans to access the equity in your home via a mortgage top up?  People access home loan top ups for a number of reasons. You might want to renovate to increase the value of a property or to make your home more your own. You could wish to use the equity as a deposit for another property, with the notion of becoming debt free in half the time it otherwise would. No matter the reason being able to get the maximum top up possible from the bank will give you more options. At mortgagehq we always encourage people to structure their mortgages in a way that increases options and decrease ..read more

There are several different repayment structures available to help you pay off your home loan in the best way possible. You can even place some of your mortgage in one repayment structure and the rest in another.  A revolving credit mortgage is a flexible mortgage structure that is something like an all-on-one bank account. You have a large overdraft, where your mortgage sits, and all your income and expenses go in and out of this single account.  It is like an offset mortgage, although they differ slightly in terms of functionality, terms and availability. A flexi mortgage such as t ..read more

“I have a few questions Mum, Dad. I hope you can help. I really want to own my own house one day soon and I’ve been saving, like, a lot”. “What should I do next?” “How can I make it actually happen?” “It seems pretty dire these days and the competition for property is just brutal. Perhaps I shouldn’t bother?” What are you going to say during those conversations with your kids? Saving for and buying a first home is a huge rite of passage that isn’t unobtainable with the right guidance and support. You were dealt a different hand of cards that came with their own, unique issues when you purcha ..read more

It’s stressful when your mortgage application gets declined. Sometimes the bigger reason why you’re stressed isn’t that it’s declined, it may be because you don’t know what next steps to take to get your mortgage application approved. Here are 3 common mistakes people make when applying for a mortgage (and how to avoid them): Non-disclosure Wrong bank – Income that sits outside of their policies Security – The property itself Non-disclosure This is one of the biggest reasons why mortgage applications get delayed or declined. You need to disclose as much as possible about your financial posi ..read more

Yesterday was a big news day in New Zealand. Jacinda announced a return to an Orange COVID traffic light setting just in time for the Easter long weekend. More significantly though, the Reserve Bank of New Zealand (RBNZ) increased the OCR by 0.5 percent to 1.5% surprising some analysts and meeting other analysts predictions. ANZ was the first bank to react by increasing their interest rates, and other banks have already followed them. The 3 big questions on mortgage holders’ minds at the moment: How much further will interest rates rise? Should I break my current lower interest rate to refix ..read more

These last few weeks have been quite a whirlwind for mortgage brokers and the wider finance industry, with some important changes being rolled out. These changes impact all lending approvals even if you have an existing pre-approval, or want to modify your approval.  The RBNZ and the FMA have been pushing out changes to the CCCFA (Credit Contracts and Consumer Finance Act 2003) that banks have to respond to, so the banks are responding with their own lending policy changes. Read more here https://www.legislation.govt.nz/act/public/2003/0052/latest/DLM211518.html  Your next step will ..read more