Maternity & Parental Leave: How It Affects Your Mortgage (And How to Get Approved)
Starting a family is exciting, but applying for a mortgage while pregnant or on parental leave adds a unique layer of complexity. We explain how New Zealand banks officially view Paid Parental Leave, how the drop in your temporary income impacts your borrowing power, and why you must legally disclose a pregnancy to a lender.
Discover the specific strategies you can use to still get approved on your full salary—including how to calculate a "cash buffer" for unpaid leave, utilizing employer top-ups, and how Home Loan Factory packages your application for a stress-free approval
Builder's Reports in NZ: Your Home's Ultimate Health Check
You've found the perfect house, but is it hiding a $30,000 secret in the ceiling?
While banks rarely force you to get a builder's report for a standard home loan, skipping this crucial health check can be a massive financial mistake. We break down exactly how much an inspection costs, why you should always try to attend the walkthrough, and how a $500 report could give you the ultimate leverage to negotiate the purchase price.
Getting Cashback on Your Home Loan: The Practical Basics
Bank cashbacks can provide a welcome cash injection when setting up your mortgage, but they always come with structural strings attached.
From navigating the fine print of 3-to-4-year clawback periods to maximizing your incentives based on your deposit size, we break down the practical basics of home loan cash contributions in New Zealand.
Freehold, Cross-Lease, Leasehold... What Do They Actually Mean?
Understanding the nuances of different property types is crucial for making informed buying decision.
In New Zealand, various forms of property ownership exist, each with its own set of rules and considerations. This article explores the most common property types in New Zealand, as we as potential things to watch out for with each one.
The type of property will be marked out in the sale & purchase agreement for that particular property.