What a great start to 2019! It seems like only two minutes since the holiday season and now we’re in March. Time flies when you’re having fun.
LVR restrictions have eased
RBNZ’s easing of the LVR restrictions came into effect from 1st January 2019. It has been
forecast for a while but it is fantastic that it has now actually happened. We think the effect will be considerable and will encourage strong interest from both first home buyers and property investors alike.
We have been inundated with calls and emails from property investors wanting guidance with their portfolios since the announcement late last year. When the LVR first eased from 40% to 35%, we saw investors starting to return to the market. This latest news will also bring those, who up until now have not had enough equity in their portfolio to meet the LVR rules, back into the game. With the lack of housing in New Zealand, becoming a landlord remains an attractive option.
Get in touch to see what these changes mean for you.
Change is afoot!
The New Zealand Government has proposed changes to legislation within the financial services industry which are aimed at improving the access to high-quality financial advice for all New Zealanders.
In preparation for the new regulations, the advisers of the Tony Mounce Mortgages & Insurance team returned to the classroom to complete the New Zealand Certificate in Financial Services Level 5 Core Strand qualification early last month.
Full details of the proposed changes can be found on the Financial Markets Authority website.
Interest rates… How good are they?
Projections look like interest rates circa 4% could be here through to 2021.
These low rates make it a great time to speak to an adviser to discuss the pros and cons of breaking your existing loan, if on a fixed rate already, and refixing at a lower rate if a cost saving is evident.
It’s good practice to review your mortgage frequently to ensure it is suited to your particular circumstances. A lot can change between buying a home and two, three or even five years down the track. Give us a call to find out what we can do for you.
We will be expanding the team shortly with additional staff members and we can now share that positions will be filled by Karyn Barnfield (Lending Manager) and Rachael Tucker (Adviser Support), both set to start with us early next month.
We are looking forward to welcoming the new members to the TMMI team!
Tony & the Team at Tony Mounce Mortgages & Insurance