The new year has started and many commentators are trying their best to scare you with their own dire predictions for the rest of 2023.
I’ve got a few thoughts of my own to share…
Isn’t it amazing how things can change so fast! One minute we are experiencing record low interest rates and the subsequent property boom – and the next minute every commentator seems to be trying to say the sky is falling. It’s exhausting just trying to keep up with all the supposed experts vying for their version of the morbid truth.
One thing I know is this: property has been a great investment for families in New Zealand and kiwis love property.
It’s been such a privilege to help so many people onto the property ladder over the last 38 years. It’s been even better to work with those same families over decades as they increase their wealth through good property investment.
Another thing I know is: DON’T PANIC! The interest rates are increasing, but the 12 month through to 2 year fixed term interest rates are still some of the best options.
Around half of you will need to re-position your mortgage this year. I’m helping many people every day navigate through the ever increasing changes in the rates and new rules. I know how to help – whatever your current situation.
Come and get some time with me or one of our experienced team and put your finance fears to rest!
Property investors take note.
Have you come to the end of your 5 year interest only period or are the 5 years coming to an end very shortly?
We have options available to us to ensure you can retain your interest only loans. Our advisers can assess your current position and look at all the best options available to you. This might be to re-position your lending, either with the existing lender by re-fixing or restructuring or a new lender that better suits your current needs.
Come in for a chat with one of our experienced advisers who can review your lending and suggest the best options available today.
Tough times ahead – according to all…
There is obviously much talk in the media and confirmed by the Reserve Bank of NZ projections that this year will be tough for the housing market (and tough for everything really).
Throughout 2022 we saw rises in inflation, multiple Official Cash Rate (OCR) increases and interest rate increases. Much of this is set to continue, at least for the foreseeable future.
It’s never a good idea to panic, if you are feeling nervous about your upcoming interest rate increases on your mortgage, then you need to come and chat with us as soon as you can.
We can help you plan wisely for this year and give you the peace of mind you deserve.
When should you talk to us?
- When you are worried about re-financing
- When you’ve had a change in circumstances
- When you can increase the amount of your payments
- When you have a lump sum coming
- When you want to repay your mortgage faster
- When there is an addition to your family
- When your relationship status changes
- When you’ve had a pay rise or changed jobs
- When you have inherited money or sold an asset
- When you have a new financial plan
- When you are financially concerned or not sleeping well