Home Equity Loan.

(aka Reverse Mortgage)

You might look at your equity in your home like this

If you are 60 and above and have equity in your home, you may qualify for a Home Equity Loan (also known as ‘Reverse Mortgages’).

Please contact me for further information and you will receive efficient, friendly and specialist advice as to whether you qualify.

When was the last time you reviewed your house insurance or other general insurances? Are you paying too much or not adequately covered? Why not check out the Fire and General Insurance section of this website at the same time; the section includes some tips and general information. If you would like free and no obligation quotes at the same time as your Home Equity Loan is being considered, please include this in your request when contacting me.

Non-Bank Lending

Have you been turned down by the banks? Need an expert opinion on whether you are likely to meet bank lending criteria before wasting hours of your time?

There is a growing market for Non-Bank lending institutions.

The main banks are currently taking a conservative lending approach to lending applications. For example, bridging finance where there is no guarantee of repayment and thus proving satisfactory servicing becomes a real issue. If you are newly self-employed (have less than two years’ worth of formal financials), you may struggle to have finance approved by a mainstream bank. If you are ‘asset rich and cash poor’, you will probably need a Non-Bank lender to provide an approval. You may have a resolved credit adversity or be a discharged bankrupt, but still cannot obtain finance through the bank. This list is not exhaustive.

I have access to a variety of Non-Bank lending options to get you the finance you need. Your finance arrangement may only sit with a Non-Bank lender for a short time and then we can approach a bank when you meet their criteria. You may need the finance to tide you over until you sell. You may not have an indefinite returning resident’s visa for New Zealand and seek a low equity loan. We can work together for the best finance options at the time.

Getting you finance through a main bank is always the priority, if it is viable.

Home Lending

I can advise on pre-approvals, new purchases, bridging loans or refinances.

Whether you are a first home buyer, small time or experienced property investor or looking to refinance, I can provide advice and seek an approval to meet your requirements. My aim is always to have a positive effect on your finances and other financial needs. If I feel for any reason I cannot add value, I can usually let you know within the first interaction.
Apart from the application form, and a one-page declaration to engage me the following information is typically required by the lenders:

  • Income evidence; if you are employed then the lender will need 3 recent payslips. If you are self-employed the lender will need your most recent personal tax summaries/full balance sheets (if you are a director/shareholder of a business). Lenders are now looking at 2018 and 2017 as the most recent financial years
  • Bank statements (1); the lender will need 3 months of your main transactional account(s) – your main transactional accounts are defined by any account(s) income is crediting and any expenses are being paid from. This includes rental and business accounts. These can be printed off internet banking as long as the statements contain your name, account number and have a ‘weblink’ noted down the bottom of the page
  • Bank statements (2); if you hold an existing home loan(s) the lender will need 6 months of your recent loan history, for all loans. These can be printed off internet banking as long as the statements contain your name, account number and have a ‘weblink’ noted down the bottom of the page
  • Bank statements (3); If you hold cash in an account(s) that is being contributed as a deposit towards a new property purchase the lender will need 3 months’ worth of transactional history. These can be printed off internet banking as long as the statements contain your name, account number and have a ‘weblink’ noted down the bottom of the page
  • Bank statements (4); The lender will need a print out of the ‘first page’ of your internet banking evidencing all banking facilities with any main bank you bank with. Your name and a ‘web link’ must be present down the bottom of the page
  • Kiwisaver (used as a deposit); Confirmation of your kiwisaver balance is required if it is being used as your deposit, or part thereof, for a new property purchase
  • Photo Identification; A clear copy of your passport is the preferred way for a lender to identify you. If you do not hold a NZ passport, then please provide a clear copy of your resident’s visa as well. If you provide a NZ driver’s licence further identification is required, such as a clear signed copy of the front and back of your embossed EFTPOS or credit card
  • Proof of address; You may meet the proof of address requirement via the bank statement(s) you provide per the above requirements, however if not, then a ‘linking document’ like a council rates invoice or utility bill will be required
  • Sale and Purchase Agreement; If you have purchased a property a full, signed and dated version of the sale and purchase agreement is required (please send the unsigned/undated version if available at the time of application)
  • Trusts; If you property is owned in trust a full, signed and dated version of the trust deed is required

Car Finance

I can negotiate terms

to assist you to make a car

purchase or refinance

your existing debt.

Are you buying a car or feel your interest rate is too high with your existing finance relationship?

Many people just sign up ‘on the spot’ to the finance offered by the company they purchased the car through.

Alternatively you searched for the first decent looking company on the internet, the company that convinced you they had “great deals” or just the first company that said “yes”!

Here are some features of what can be offered:
  • Negotiated interest rate
  • Minor establishment fee
  • No monthly account fee
  • No fee for additional payments
  • No early termination fee
  • Dealer or private sale transactions
  • Can support visa applicants
  • Personal and company applicant considered
  • 1 – 5 year repayment terms*
  • Car travelled no more than 150,000km*
  • Can be no older than 14 years at the end of the term eg – If it was a 2007 vehicle, and we are in 2017, the term would need to be no more than 4 years so that the vehicle was 14 years old at the end of the 4 year loan term

*I can have these points reviewed on a case by case basis depending on the overall strength of the application.

Please note that as part of my advice process I will check if you have Home Lending, as it may be in your best interest cost wise to look at securing the finance required against your existing mortgage security. This will be up for discussion and ultimately your decision.