October 2019's Property Gazette
Have You Got Your Preapproval Sorted Yet?
With less than three months left of 2019, if you haven’t already, now is the time to get your loan preapproval sorted. The property of your dreams is just around the corner, and with the lead up to Christmas, everyone wants to have their purchase signed off and completed before then. Having your loan preapproved means that you can move as soon as you find the perfect property, as well as giving you an advantage over other purchasers. For assistance in obtaining your mortgage preapproval, get in touch with us today.
First Home Loans is Ideal for First Home Buyers
If you are a first home buyer, we recommend that you seriously consider applying for the Welcome Home Loan product (now called the First Home Loans Product). As only a 5% deposit is required (reduced from 10% today), first home buyers are able to get into the property market earlier than they may have been expecting.
There are specific requirements that must be met in order to be eligible for this loan product, such as:
- below a joint income of $130,000 or less, or $85,000 or less for a single borrower
- an NZ citizen or Permanent Resident Visa holder
- have a minimum 5% deposit
- purchase a property to live in which is below your regional price cap
For further information on these criteria or information on how to apply for your Welcome Home Loan, get in touch with us today.
Spotlight on Shane Blummont – Insurance Advisor
Shane is our resident insurance advisor and has been in the industry for over 30 years, we’re excited to have him on our team. With extensive experience in the areas of life, trauma, income protection, fire and general insurance, he is well placed to assist you with all of your insurance requirements. Shane enjoys spending time with his family and taking his mountain bike out for a ride. For insurance solutions tailored to meet your specific needs, contact Shane today.
Protecting What is Valuable
It makes sense to protect what is valuable, recently I heard it said it was sensible for people building a new home to take out insurance.
The insurance was not only on the bricks and mortar but on builders going broke or being shut down, new houses left unfinished, deposits lost.
Some say that this is a risk that the insurance industry has a role to play in sharing, with the idea that you need something in the background to protect you.
Interestingly insurers are not queuing up to offer this protection because insurers regarded the construction sector as too risky.
When it comes to a life what value should we place on this and what are the risks?
In New Zealand in most cases if you are incapacitated by illness or diseases you are eligible to receive free or subsidised health or disability services, we are so to fortunate have a public health system.
However, there is no compensation for loss of income or cover to pay the bills, this is where Mortgage and Income insurance come in.
In this case insurers are willing to share the risk offering compensation to assist with mortgage and living expenses.
Mortgage repayment and income protection insurance are similar, both insurance products are designed to pay you a series of ongoing payments in the event that you're unable to work for a period of time.
For some more information on these types of insurance covers please feel free to contact us.
Scott is wonderful to work with, which made the hole process so much easier and stress free. Highly qualified highly recommended. In there for the customersKarla Botting - 06 December 2023
Scott was fantastic to work with, honest and hard working, went the extra mile on everything, explained the nitty gritty jargon into easy to understand. Got us a great deal on our mortgage, put us with the right people. All in all 6 stars, if your buying then definitely call Scott at AMS!!Hamish Neilson - 06 December 2023
I used Scott at Advanced Mortgage Solutions for my first home purchase and am currently repurchasing a property through him again. Has been absolutely amazing and made the process extremely easy. Would recommend to anyone looking for a mortgage broker in Christchurch!Stacy Kamo - 29 November 2023
Scott and the team at Advanced Mortgage Solutions are great! Very knowledgeable and they make the house buying process very simple and easy to understand. Cannot recommend them enough!Scott Harris - 20 November 2023
Friendly and personalized service. Always happy to answer all my questions and love getting to see Gus when we meet in-person.Lisa French - 20 November 2023