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August 2018's Property Gazette
Published by Scott Miller
Introducing Our New Vehicle Finance Product
August is a great month to be purchasing your first home, moving your loan to a new lender and buying a new vehicle!
Winter is not the time you want to have car troubles! Dark, cold and wet, there’s nothing worse than having an unreliable vehicle. We understand that not everyone has the ready cash to purchase a new or used vehicle, which is why we’re adding a vehicle finance product to our services range.
We can assist you with obtaining the required finance to replace your existing vehicle or purchase an additional one. For an expanding business, an expanding family or the expanding number of drivers within your family as they reach 16 years old, let us help you get the vehicle you need.
With competitive pricing for the financing of both new and used vehicles, contact us first!
HomeStart Grant News
The HomeStart grant offers KiwiSaver members who have been contributing for three years a cash grant when purchasing their first home. Administered by Housing New Zealand, to be eligible, you need to:
- have made the minimum contributions for three years
- be building or purchasing your first home
- have a single income of less than $85,000 or double income of $130,000 per household
- have at least a 10% deposit
- be planning to live in the house for at least six months after buying it
The HomeStart grant is per dwelling, up to a maximum of $10,000 for the purchase of an existing property, or up to $20,000 for the purchase of a home which is less than six months old, or the land to build one on.
To learn more about how we can help you buy your first home, contact us for a copy of our free 1st Home Buyers Guide today!
Sick of Your Existing Lender?
Are things just not working out with your existing lender? Don’t put up with getting the run-around, poor communication or just plain bad service. We’ll give you some options around the refinancing of your current borrowing with a new lender – one who’ll appreciate you as a customer and an individual! Contact us today for a chat, and we’ll put together a plan to help you move forward.
Trauma Cover Part 2
To recap from last month article let's ask a couple of questions:
What is Trauma Cover?
Trauma Cover is designed to help alleviate the financial impact of a serious health condition, originally conceived by Dr Marius Barnard, the surgeon who performed the first human heart transplant. Barnard argued that, “as a medical doctor, he can repair a man physically, but only insurers can repair a patient’s finances.”
(Trauma cover is basically a dread disease cover, it is not a disability cover it pays out on the diagnosis of a covered condition not the prognosis).
What is its Purpose?
As stated by Dr Barnard "Trauma cover exists to repair a patient's finances.'
Trauma Cover Types
- Essential – fewer conditions with limited definitions covered
- Comprehensive – more conditions with higher definitions, multiple claims benefit
- Severity based – pays out when a condition reaches a level of severity
- Major Trauma – offers a level of cover for more severe conditions
How much cover do you need?
The worst case financial scenario is the true need, a realistic measure might be as much as you can afford.
You can balance this cover with Income or Mortgage repayment cover and insure the percentage of income not covered by these policies, times this by the years need to age 65.
This may sound like a lot but depending on your circumstances you may need a lot, consider the following:
- How long will I potentially need cover?
- What financial protection is realistic for me?
- What financial reserves do I have at hand at short notice?
- What other cover do I have?
- What other commitments (family or business) do I have?
To find out what cover is best for you contact us.