mortgage insurance

Home Loan

Unless you have hundreds of thousands of dollars cash available to buy  a house, there is a good chance that when you are looking to buy a house you will need to borrow money to buy a house. In order to borrow money , you will need a lender which can be a bank or a non-bank to assist you with the loan. This loan is called a home loan. In return for the loan to buy the house, bank will ask you to sign a legal contract called a Mortgage contract which lays down terms and conditions for the given home loan. It will also state who the borrowers are, what the interest rate and loan repayment amount will be; how long the loan is for ( maximum loan term in New Zealand is 30 years).

In order to offer you a home loan, the lender will check your credit worthiness based on some key attributes. ABCDE of what a bank looks for in an eligible candidate:

  • Age and Stage– someone looking to buy their first home at 60 will find it difficultto borrow on a 30-year loan term as they are likely to retire during the term of the loan.
  • Base salary– Income for an employee or profit for the self-employed is a key to measureyour ability to service the loan. To service the loan, you must have sufficient income to support your living expenses plus additional funds to service the new home loan
  • Credit character– bank wants to ensure that the borrower will repay the loan back on time andon the agreed terms. They will check your credit score and if there were any adverse remarks, unpaid loans, unpaid fines, overdue credit cards or unarranged overdrafts or account arrears that have not been paid on time.
  • Deposit – This ensures that the borrowers have some skin in the game and are not completely relying on the bank for the entire loan. It also shows that they are good savers as they usually would have saved some of that money themselves. Deposit can be made up of savings, Kiwisaver and family gifting. It can also come from sale of any assets like a business, vehicle etc. Banks prefer that borrowers put 20% of their own money as a deposit. However, banks can loan upto 90% and in some cases can loan up to 95% and put just 5% money.Talk to us about 5% deposit loans
  • Employment– where you work and what you do will tell the bank whether you hold a stable job and a regular income. If you lost your job, how difficult would it be to find another job with your skills. It may be difficult to employ a nuclear scientist in New Zealand as we do not have any nuclear facilities. I once worked with a successful, classical singer who had a successful career in her country but was finding it very hard to find a job here.
  • Talk to us if you want to find out your eligibility for a home loan.

Buying your first home

We will assist you in buying your first home. Talk to a dedicated lending consultant and we’ll help you into your dream home.

Refinancing your home loan to LendingHub

A confidential talk to us could help you into a more affordable home loan with a lending solution tailored to suit you

Managing your Home Loan

Home Loan may give you the options to pay your home loan faster or reduce your regular repayments giving you a life and a home.

LENDING Hub

Financial Planning Hub

Talk to about – Budgeting, Money Management, Cashflow management. How to manage your finances during Covid.

Lending hub went that extra mile and thought out of the box to make our dreams a reality.

Terrene

The service has been approachable and very efficient. My partner and I have had many enquiries along the way which were answered in great depth. Being a first home buyer, the housing process can be very daunting. There wasn’t a time when we received an answer that we didn’t understand the situation in full clarity.

T Glossop

Ash has been my insurance advisor for a number of years. He has arrange appropriate cover to suit my needs. Over time he has worked hard to reduce loading on my life premium and just recently, remove all loading altogether. A good result for me. He has been there for me over the years.

Soujan M

Customer Service Representative at Ministry of Social Development (MSD)

Very knowledgeable and friendly team, thank you all!

Shen Wang

Ash was very helpful throughout the process. He made the whole thing easy to understand for me. He is amazing to deal with.

Satinder

Ash was very patient in understanding my needs to meet and match with the right policy.

Rushdie

Your interactions with customers are excellent.  Always happy to help and attend calls and emails. Always provide choice to select the best.

Rijo

Ash has a deep understanding of the insurance market. His advice to me to table/level my life insurance premiums is something I will always be grateful for as it has provided me with the assurance that I will be in a position to continue paying my premiums to the end of the policy.
I recommend that you allow Ash to offer you a plan based on your needs for the future and like me you will not regret it.

Richard Ferdinands

Operations Manager at Mystery Creek Event Centre

Very happy with the support received from Ash and the team. Ash has been extremely supportive and has gone above and beyond to communicate the plan and explain things.
Highly recommend!

P Joseph

My husband and I had brought a house and had gone around the banks to get the best deal we could on our mortgage and then we had a presentation at work by Ash on how mortgage brokers can help. I decided before we finalised anything to have a chat with him and I am glad that I did. Ash managed to get us an extra 0.4% off our fixed rate and an extra $1k cash bonus. This was with our current bank and our advisor at this bank had already told us he could not match a slightly better rate by another bank. I couldnt believe that Ash could get us a rate that was so much better. Would definitely recommend having a chat with Ash.

Olivia Thompson (nee Coker)

Product Management | Corporate Tax | Financial Services

Thank you so much Ash for helping us out to buy our first home. It was you guys who had lot of patience with us as it was our first time. You really explained us everything step by step so well that we could understand.Once again would like to thank you and Prinal for all you have done for us.

 

Munesh R

Having observed Ash in action with his clients I have witnessed the professionalism that he displays. Ash takes his time to carefully understand his clients needs. Then, with his indepth understanding of his products and the insurance industry Ash is able to add genuine value.

Matthew Isbister

Award Winning Investment and Mortgage Adviser

Ash T. first let me start by telling you how grateful I am for all the work you did on my behalf. I know it wasn’t easy but you did it. This was a financial turning point for us We really appreciate all the work you put in to helping us get our mortgage. You absolutely went above + beyond all our expectations. I will certainly refer you. if I know of anyone wanting a new mortgage for any reason at all, I will be happy to refer them to you. Thank you again.

Leony Sebastian

Exceptional knowledge on lending! Ash was very clear in guiding us and patiently addressed every questions we had! Highly recommended service.

Jithin B

Ash was very professional. He explained us the process thoroughly in layman’s term which helped us to make decision quickly and efficiently.

H Khera

I’d like to say a big Thank You! to Ash Teotia for his assistance in refinancing our mortgages.

We were looking to review our home lending as all our lending was floating and we thought it might be time to consider fixing at least some of it. Ash’s help was invaluable and with his help we have created a structure that meets our needs and obtained very favourable rates.

If you haven’t taken the opportunity to have a chat with Ash, I recommend it – for a small investment in effort you may be able to realise some significant savings

Gary Carson

Business Improvement Specialist / Business Analyst

Ash Teotia has been helping us through every step of our first build process, answering all of our late night queries and setting up, as expected, through stages in the process. We have gone through the this process, with total understanding each step of the way, thanks to Ash and his outstanding commitment to us through our biggest milestone to date. I cannot recommend him enough, he’s been a lifesaver.

Gage T

Thank you so so much for all the help from your team especially yourself through all year of trying getting our mortgage sorted for me and my family. It would not happened without your dedication.

F Fenton

Thank you so much Ash and your team for all your help! Today is our first journey of being an investor! Yay!!!

A & J Delubio

Firstly I would like to thank Ash for his continuous support shown to me and my family with the finance process and it would have NOT been possible without him. He is very humble, patient and hardworking person and deals with every thing in a professional manner. From the start to the end and till today he still is in contact which shows how supportive he is. We wouldn’t have fulfilled our dream if he wasn’t there as our mortgage broker in this process. The more we praise him is very less but I would like to thank you from our heart in supporting us to purchase our dream house which we never thought of and also the process in dealing with the bank in getting approval for such a big amount and not only that getting extra funds in level 4 lock down to settle our purchase. We have already recommended him to our family and friends and will continue to support him in near future I wish him all the best and success ahead.

Charles S

Thank you for helping us secure our first home. We wouldn’t have gotten to reach this milestone if it wasn’t for all your hard word. Thank you for going the extra mile for us and for never giving up on this journey.

Chance & Mohit

I would happily reccomend Ash to anyone looking for financial advice or with assistance to broker a loan. Ash recently brokered a home loan for us and not only got an excellent deal for us but also provided valuable advice and made the whole process as seamless as possible.

Brendan McQuade

Regional Manager – Upper North Island at PGG Wrightson Ltd

Very grateful for all the hard mahi that Ash and the team have performed over the past year. From being told that I wouldn’t qualify for a mortgage by another broker due to my overseas income to Ash and the team lining up 3 banks to offer me a loan is outstanding. Ash and the team provide a very personalized service and will go the extra mile to make sure all my mortgage and insurance bases are covered.

B Wernham

After being told by another broker we would not be able to secure a loan because of my foreign income it was a welcome relief to find out that lending hub had received notification from 3 out of the big 4 banks that they would lend to us. Thanks for all the hard work in securing us this loan and persistence with our complex insurance cover.

Ben W

10/10

A Potter