Book a 10-minute introductory chat

Get help clarifying your current situation and immediate goals. If you want further help we will then match you with an adviser specialised in your situation.

Categories

Rules, Strategies And Tactics Of The Property Investing Game Revealed.

Have you ever seen how property investors create $500,000+ of profit from a single property purchase? We can show you the case studies. Enrol in the free 21-day email course today.

ANZ Mortgage Holiday

ANZ will be ready to process mortgage holidays from Monday (30th March).

To compare how ANZ’s mortgage calculator compares to other banks check out this comparison article and guide to mortgage calculations.

Extract:

ANZ has assured customers that it is in good financial shape, and says its six month mortgage holidays will be ready to go by Monday.

Chief executive Antonia Watson says that borrowers will be able to start applying for the pause in payments from next Monday so long as their mortgage is in good shape, and they are up to date on their payments. The holiday will be for principle mortgage payments, with interest still accumulating in the meantime.

She also noted that the banking sector was more confident about facing this financial crisis as a result of the reforms brought in following the GFC.

“We’re not ready to hit the ‘go’ button, that will probably be about Monday,” Watson told RNZ.

Source Link

Please understand a mortgage holiday is actually a deferral. Essentially it looks like a pause on all payments with interest still accumulating. This means after the “holiday” your total mortgage will have grown due to interest payments being capitalised instead of paid. You will then have to extend the mortgage term or increase repayments from their current levels.

Alternative options to discuss with your adviser:
1. switch to interest-only (saves cashflow whilst ensuring your mortgage doesn’t grow)
2. consolidating high-interest debt (should be done anyway)
3. restructuring now to a longer-term (continue paying down your mortgage but with permanent lower payments)

Share on linkedin
LinkedIn
Share on twitter
Twitter
Share on facebook
Facebook
Book your 10-minute introductory chat. Get clarity on your current situation, goals and next steps.

Instant Online Calculations

Discover all your mortgage options online with our advanced borrowing power calculator.

Results include your borrowing power, restructure savings and more. Make informed plans and get mortgage free. 

Resources to get you started:

The Mortgage Lifecycle will guide your mortgage and property investment decisions.

We created this model to inform our education pathway. Learn to their financial independence, identify your stage and what you should focus on right now.

Excellent advice makes your life easier and more successful.

Learn what to expect at every stage of our advice process, and ‘why’ we’ve structured it this way for you.

Spend 3 hours virtually with Blandon. Attend a Masterclass.

For each of the three stages in the mortgage lifecycle, we have a paid masterclass to unpack exactly where you are, what options you have now and what strategies you should implement today.

Popular Articles and Pages

NZ Mortgage Rates

NZ Mortgage Rates Guide to Mortgage Rates Mortgage rates in NZ get a lot of press because interest rates hugely impact the cost of borrowing

Read More