Going through a divorce is never easy, and when it involves shared finances like a mortgage, things can get even more complicated. If you’re in a situation where your ex-partner has stopped paying their share of the mortgage, you’re likely feeling a bit stuck and unsure of what to do next. While every case is […]

The last review of the OCR by the Reserve Bank saw the regulator drop the rate by 0.5 points. Subsequently, lenders revised rates downwards to reflect the RB move. One can say that “Kiwis are laughing all the way to the bank”. Borrowers are enjoying better loan terms and bigger loans. This is reflected in […]

When you use a mortgage to buy a home, the lender retains charge over the title until after you have paid off the entire loan according to the contract. If you fail to make payments, the lender has the right to repossess and sell to recover the debt. When a lender takes debt recovery steps, […]

The official cash rate in NZ has been on a steady decline over the last 5 years. The latest cut drove it to 1% and triggered a ripple effect to lenders who in turn cut loan interest rates. Homeowners have been enjoying this steady decline. Many have opted to refinance and shift to differently structured mortgages or cheaper […]

With the banks dropping mortgage rates to historic lows, many homeowners who were in mortgage trouble are looking to get a breakthrough and perhaps reclaim their homes. However, due to tough lending criteria by banks, this drop in interest rates seems like it an opportunity that could pass you by. If you have received a […]

Are you having a hard time making your monthly mortgage payments? Perhaps your income has significantly declined over the last couple of weeks due to a relationship breakup or an unexpected financial dip. You are probably experiencing mortgage stress and you should reach out for help. If you have missed a couple of mortgage payments […]

A mortgagee sale should not be such a distant thought if you are a homeowner in New Zealand. This thought should keep the embers firing the zeal to own a home start hot enough to stay on top of your payments. But there are times when push comes to shove, and financial headwinds could drive […]

When you miss making payments on your mortgage the lender has the right to engage a debt recovery process, especially when your loan goes into default. This may end up in a mortgagee sale situation. Anyone facing a mortgagee sale should seek legal guidance from a suitably qualified professional, like a lawyer, throughout this process. […]

With home loans hitting record lows since the reduction of the OCR to 1 per cent, the quest for homeownership surged in New Zealand. Of course, this has triggered demand-pull inflation on house prices. However, as the mortgage size gets bigger, more Kiwis are experiencing mortgage stress. But not all are succumbing to the stress. […]

If for any reason you raise enough money to pay for your mortgage and you are worried that you may miss a payment or more call the lender right away. You should also reach out to MoneyTalks or www.familyservices.govt.nz/directory and get connected with financial advisers and mentors who are ready to help you avoid a mortgagee sale. Here’s more […]