The good news about the Global Credit Crisis (if you wish to see the
good side) is the reduction to interest rates. Over the past 6 months
the retail rates have reduced in upwards of 4.00% which means the cost
of a home or rental loan is now far more affordable than ever before…
It is hard not to notice that there is a Global Credit Crisis happening
at present at this has had an impact on the number of mortgage
providers and the lending guidelines in New Zealand…
In today's modern world we have learned that we get what we want now and if we can't then we will borrow the money to get it. We are freely given finance terms for consumer items, and credit cards for spending, so wouldn't it continue that the house we want now is like what our parents live in - don't we expect it all now?
Many first home buyers can struggle with the decision. From an emotional view many would like to buy a home, but from a numbers point of view it could be more beneficial buying a rental, and continuing to rent yourself.
Tracey has been in the financial services industry for the past nine years – seven of which as a residential mortgage broker. For the other two years she was in residential lending as a Business Development Manager for a non bank lender in New Zealand.
Whether it’s your first home or not, applying for finance or even talking to the bank can be a very scary prospect. It does not have to be that way, which is why many people are talking to independent mortgage advisors instead.
The good news about the Global Credit Crisis (if you wish to see the
good side) is the reduction to interest rates. Over the past 6 months
the retail rates have reduced in upwards of 4.00% which means the cost
of a home or rental loan is now far more affordable than ever before…
It is hard not to notice that there is a Global Credit Crisis happening
at present at this has had an impact on the number of mortgage
providers and the lending guidelines in New Zealand…
In today's modern world we have learned that we get what we want now and if we can't then we will borrow the money to get it. We are freely given finance terms for consumer items, and credit cards for spending, so wouldn't it continue that the house we want now is like what our parents live in - don't we expect it all now?
Many first home buyers can struggle with the decision. From an emotional view many would like to buy a home, but from a numbers point of view it could be more beneficial buying a rental, and continuing to rent yourself.
Tracey has been in the financial services industry for the past nine years – seven of which as a residential mortgage broker. For the other two years she was in residential lending as a Business Development Manager for a non bank lender in New Zealand.
Whether it’s your first home or not, applying for finance or even talking to the bank can be a very scary prospect. It does not have to be that way, which is why many people are talking to independent mortgage advisors instead.
