Mortgage Broker - Auckland

[Tia Maria]

Can anyone recommend a good mortgage broker in Auckland?

Previously I have always negotiated witht he banks directly but have just read this article:

http://www.nzherald.co.nz/property/n...ectid=10640715

Banks are enforcing hefty fees for home-owners to roll over their fixed term loans, brokers say.

With most terms ranging from six months to three years, and mortgages split into two or three loans, some borrowers could pay thousands of dollars more to fulfil the Kiwi dream.

ASB Bank has tightened up on enforcing fees faced by every mortgage holder when resetting their rates, according to brokers.

And it appears other banks could be heading in the same direction with one mortgage broker reporting that Westpac has also applied stricter criteria on fees that were previously negotiable.

Kiwibank has also said the $100 fee being charged will rarely be waived.
...
The document also showed the ASB Bank was wiping a $500 contribution previously given to customers to help pay for legal fees.
...

We often get 2 year fixed rates but have the re-mortgaging fee waived and $500 put towards legal fees. I'm not happy at he thought that it could now cost us $650 every couple of years to refix our mortgage.

We're currently with ASB but may be looking elsewhere anybody got any suggestions?

Cheers

Tia

[thewoodies]

We used Jo Reed at moneytree brokers- hibiscus coast - excellent - we got a better deal than some of our friends that have used a bank direct.

We didnt get any fees and a better rate she gave us quotes from several banks - came to our house whilst kids were in bed (so we could concentrate)- i think we even got money towards our solicitor - if you can be bothered check my 18 weeks to go thread i wrote all about when we moved 6 months in

Good luck

www.moneytreebrokers.com

[James 1077]

My parents used Nick McCorkindale at Mortgage Minders when they bought their flat. He was pretty good for them but we got a slightly better deal with Westpac than he could offer us.

www.mortgageminders.co.nz

[batgirl1001]

We used Paul Maher - MortgageLink and received excellent service from him. He uses Skype a lot so it has been easy to talk face-2-face or leave a text for him if he is not around in the office.

Same thing with most mortgage brokers- a good deal with the bank that included lower interest rates, money towards a solicitor, no fees at all and some gift vouchers from Plant Barn.

Occassionally we "bump" into each other on Skype and say 'HI'

[Alan]

Squirrel Mortgages were excellent for us but told us 18months ago that some banks were refusing to even deal with brokers as they wanted a direct relationship and didn't want to be played off against each other.

[Alan]

Subcribe to http://www.bnz.co.nz/About_Us/1,1184...PTonyAlexander for5 a weekly update and he says to stay on a floating for now and ride the market, depending on paying down as much as you can.

[Kiwi Mac]

Can anyone recommend a good mortgage broker in Auckland?

Previously I have always negotiated witht he banks directly but have just read this article:

http://www.nzherald.co.nz/property/n...ectid=10640715



We often get 2 year fixed rates but have the re-mortgaging fee waived and $500 put towards legal fees. I'm not happy at he thought that it could now cost us $650 every couple of years to refix our mortgage.

We're currently with ASB but may be looking elsewhere anybody got any suggestions?

Cheers

Tia

We used Kit Jackson at Capital Mortgage Brokers in Wellington. Kit is an ex-British Army officer and a throughly nice chap! He has always been reliable and very effective - and of course lacks some of those, err, 'cultural peculiarities' that we all find trying sometimes....!

I don't think your broker especially needs to be where you are these days to be honest. He does not need to see the house and can easily deal with you by Skype, phone or whatever.

I highly recommend Kit.

[Ngeru]

I would be thoroughly stuffed at that rate as we have been doing six monthly fixes while the variable rates have been relatively low and the long term rates being so much higher. I just fixed the next six months commencing June of this year, as you can do it up to sixty days in advance and wanted to get the rate locked in before Mr Bollard makes any announcement on the OCR this Thursday.

Anyway, just to say this was with Westpac and there was no mention of any fees. My guess is that lenders would have to be very brave imposing these charges and hedge their bets on losing customers to anyone charging lower or zero fees. i.e. they ALL charge a fee or they cut their nose to spite their face. I wonder why else would they advertise a fee and always IME waive the charge: to attract and keep the business they have.

Perhaps check with ASB if you are re-fixing now and see what they have to say about fees, assuming there are none I would carry on as you were and re-assess at the end of the term, as I'm sure the financial scene will look completely different a year or two from now and hopefully some 'normality' and confidence returns to the financial world.

[Kiwi Mac]

I would be thoroughly stuffed at that rate as we have been doing six monthly fixes while the variable rates have been relatively low and the long term rates being so much higher. I just fixed the next six months commencing June of this year, as you can do it up to sixty days in advance and wanted to get the rate locked in before Mr Bollard makes any announcement on the OCR this Thursday.

Anyway, just to say this was with Westpac and there was no mention of any fees. My guess is that lenders would have to be very brave imposing these charges and hedge their bets on losing customers to anyone charging lower or zero fees. i.e. they ALL charge a fee or they cut their nose to spite their face. I wonder why else would they advertise a fee and always IME waive the charge: to attract and keep the business they have.

Perhaps check with ASB if you are re-fixing now and see what they have to say about fees, assuming there are none I would carry on as you were and re-assess at the end of the term, as I'm sure the financial scene will look completely different a year or two from now and hopefully some 'normality' and confidence returns to the financial world.

I fixed ours for 3 years in January last year. We got a good rate (5.99%) through the broker and the mortgage is hefty so knowing what we had to find and avoiding unpleasant headaches in future were more important than saving fractions of a percent.

Presently I am wishing I had fixed it for 5 at the time - the rate was not much more and I suspect that it will be well up by the time the 3 years expires.