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March 2018's Property Gazette
Published by Scott Miller
Things are looking up for Christchurch real estate buyers
As we welcome the change in season this March, Christchurch home buyers have a lot to look forward to. Not only do we have plenty of stock available to pick from, but interest rates are stable too. These two factors make today a great time to buy a new home.
Christchurch’s Housing Market & Interest Rates
A quick check online of popular property sale websites shows that at the moment there are plenty of options for home buyers and investors to choose from. While sales to investors have been decreasing, possibly due to the Loan to Value Ratio restrictions, more first home buyers are quickly snapping up properties. In terms of house prices, homes in the city did not rise as fast as in the commuter belt. This could be due to the new facilities being built out in the suburbs or the more attractive property options available there.
Interest rates have also remained steady, letting borrowers have clear certainty as to what their repayments will be. If this is important to you, come in and have a chat with us. We’ll work with you to identify the amount you can comfortably borrow and repay on your mortgage. Now is the time to take advantage of the low interest rates and secure yourself your dream property.
Why is a Pre-approval Vital for All Buyers?
A mortgage pre-approval is an offer in writing which tells you the sum the lender will let you borrow. It’s usually given on a conditional basis and helps you understand what your maximum offer for a property can be.
It’s important to have a mortgage pre-approval document because:
- You know where you stand financially
- You can show sellers you are serious about your offer
- You save time by not needing to apply for a mortgage after making an offer
Even though you may have pre-approval for a mortgage, you still must ALWAYS include a finance clause into any offer you make. This is because a preapproval approves you as the applicant (up to a certain level) but at the preapproval stage does not know anything about the property you eventually have your offer accepted on. The lender will always want the opportunity to approve the property as an acceptable security.
If you’re in the market for a home loan, let’s chat. Learn more about the five ways we make it easier for you to get the best mortgage and give us a call on 0508 466 356 today.
“Isn’t it amazing how quickly things change?”
Our family grows larger over the years, and the size of our home usually changes with it. It seems we’re always renovating, moving, upsizing or downscaling to meet our needs. We buy new things, replace old with new, or sometimes add those well-deserved little luxuries along the way.
It can be easy to forget one of the most important things to consider as our lives, property and possessions continue to change.
Your insurance coverage should change and grow with you whenever these life events happen. Whether you’ve upgraded your computer, bought a new camera or changed neighbourhoods, it may be time to review current policies. If you have ever increased your borrowing or restructured your mortgage facilities then we can sit down and review your policies today.
Let us help you make those insurance decisions with a complimentary review. We will promise to make it as easy and convenient as possible. Call us today to make an appointment. It could be one of the best moves you’ll make this year!
For personalised insurance advice contact Shane Blummont on 03 662 9058 or 021 34 36 55