Hi members,
Could you recommend a bank that will be likely the best to borrow money for home loan. And is it true that some banks would include free services (like they will pay solicitor for you) just to get you borrow money from them? Thanks
Hi members,
Could you recommend a bank that will be likely the best to borrow money for home loan. And is it true that some banks would include free services (like they will pay solicitor for you) just to get you borrow money from them? Thanks
They are all as good as one another. Try a Google search and you will get to read what they are offering individually.
Use a mortgage broker - see Yellow Pages or google (generally they don't charge you) - although Bank of New Zealand don't use mortgage brokers. The best deals seem to depend on which banks have funds to lend at any particular time, so you have to ring around. At least until recently a number of banks were offering cash rebates of between $1,000 and $6,000 or so depending on how much you borrowed.
Hi there
Who pays the fees of the mortgage broker ?
Obviously they are not doing it for charity. ( I am presuming they must be getting a commission from the bank on the business they bring)
So would I not get a better deal if I talk directly to the bank as the broker cut is eliminated?
There are 5 6 big banks and I am presuming all of them must be having more or less same documents requirements
Also the discount on the advertised interest rates and the cash back schemes are also fairly well known
What am I missing?
Thanks for advising
Hi newbienz
The mortgage broker is paid by the bank
They will be able to get you better interest rates
And sometime they can also ask the bank to pay for your legal fees ( when my loan was approved the offer letter says that the bank will give me 1k for the legal fees and I told the broker that won't be enough n he requested the bank for more an I was given) we use anz bank
I'm talking with experience I bough house 2 years ago using mortgage broker
Hi Catash
Thanks for the advise
Will contact some brokers next week and see what they have to offer
Have a nice day
well my friend told me that BNZ currently has the best interest rate. but there are only a few in NZ so it is worth to go each of them and talk and compare their rate/fee...
My friends bought a house in April. Got about 4.15% from ANZ as I understand.
Hi there
What was the loan amount, repayment term and It was fixed for what period ?
Did they get any cash back also ?
Did they go through a mortgage broker or directly ?
4.15% is a damn good rate if they got it for a longer period then a year and more so if they also got a cash back sweetener
Thanks for advising
Thank you for replies and advices. I think we are probably to get a mortgage broker.