First-home buying never been easier: Broker
Buying a first house in New Zealand is as easy as it’s ever been, according to mortgage broker Campbell Hastie.
Thursday, June 7th 2012, 12:00AM
by Susan Edmunds
He is releasing an eBook this weekend, called The Bank Said Yes! How to get a mortgage if you're a first-home buyer in New Zealand.
Despite increasing property prices, Hastie said with the help of KiwiSaver, low interest rates and 95 per cent lending from major banks, it had never been easier for young people to buy their first properties.
His book is designed to help navigate the mortgage application process and get people into a home faster. It also offers practical advice on thing such as improving your credit rating and how much you can borrow.
Campbell writes: "First home buyers need to prove to lenders they are the most solid, stable and predictable people around. Don't switch jobs or load up the credit card in the months leading up to your mortgage loan application. Having a better understanding of how banks think only improves the chances of a mortgage application being approved."
He says buyers need to be realistic about saving for a deposit but points out the percentage that has to be saved is low compared to a generation ago.
"Ask your parents about saving for a house and you'll hear tales of working three jobs, living on mung beans and using tea bags twice. The reality is, it has never been easier to save for a house than right now because the target has been getting progressively easier for first home buyers to hit," he says.
The book is available from his websie,www.go2guys.co.nz from Sunday.
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