Mortgage tips and tricks

[The Big Blob]

I'm hoping to learn from other people's experiences of getting a mortgage in New Zealand. Is there anything you would do differently if you were doing it again? Have you any tips you could pass on about getting the best out of a mortgage deal? Any no-nos?

[tombrown01]

My only lesson if it helps - everything is negotiable. find a broker to get you some quotes then ask the main banks if they can match or beat the rates.

[The Big Blob]

Thanks tombrown01. Do brokers take an upfront fee, or do you pay a higher mortgage rate if they introduce you to a bank?

[jawnbc]

We ended up with Kiwibank--no one could compete with what they offered, in fact. I have access to "preferred" rates with both BNZ and ANZ through work and we will still save a lot of money going with Kiwibank. Better rate, $2000.00 towards completion costs, excellent service.

[Ace]

I would recommend comparing interest rates and fees from the various building societies -- you can often find better deals there than with the big banks.