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Glossary of terms Part 1
Glossary of terms Part 1 The lending world is full of jargon and technical terms, below is the first part of our series helping you with some of the tricky stuff… Accrued Interest Interest calculated but not yet added to the loan. Amortisation Systematic repayment of...
5 Ways to Create Passive Income
5 Ways to Create Passive IncomeImagine a regular pay cheque that goes straight into your bank account and requires minimum effort to generate. Sounds too good to be true, doesn’t it? But passive income - an enterprise or asset that makes money which you’re not...
What do we need to provide for a mortgage application?
What do we need to provide for a mortgage application?For a routine mortgage application, we need to supply potential lenders with the following: A completed mortgage application (usually done in our online form). This same form can be used to apply to different...
How can a Deed of Acknowledgment of Debt help my kids buy a home?
How can a Deed of Acknowledgment of Debt help my kids buy a home?It’s a challenging time out there for first home buyers, and ironically not from over inflated house prices! Getting money off the banks these days for your first home can be a struggle. More and more,...
Money Matters: 6 Money Lessons I Wish Were Taught In Schools
Money Matters: 6 Money Lessons I Wish Were Taught In SchoolsFrom the moment I was old enough to ask my parents to buy me things, money had relevance in my life. Yet money lessons were glaringly absent in my school days. I learned a lot of things I never once had cause...
Get The Loan: Six Tips To Make Sure Your Mortgage Is Approved
Get The Loan: Six Tips To Make Sure Your Mortgage Is ApprovedFor many Kiwis, owning their own home is one of their most treasured dreams. They envisage Sundays spent relaxing in their very own backyard, evenings hosting friends for dinner at their very own dinner...
How do I place offers with no finance condition?
How do I place offers with no finance condition? Placing offers with no finance condition (meaning its usually an unconditional offer) is a typical way to help improve your chances of an offer being accepted. It’s generally even more popular when the property market...
How does a Craig Pope Financial mortgage broker get paid?
How does a Craig Pope Financial mortgage broker get paid? The bank which provides the home loan pays us a commission on settlement for our time and work. So normally our service is paid for by the banks. However, there are some typical conditions: 1. The loan must...
The OCR increased again, what should I do?
The OCR increased again, what should I do? The OCR is the Official Cash Rate, simply put it’s the rate the Reserve Bank sells money to the banks. So, if this rate changes, it has a flow on effect to the banks and mortgage rates. The OCR gets reviewed around 7 times a...