The million dollar question that

we are asked at the moment is

“what do you think will happen to the interest rates

this year, how high will they go?”

A lot of people are uncertain about what’s happening with interest rates so they are going on the floating rate to watch and wait. [Read more →]

It may seem difficult, or even daunting, but there are many advantages to buying a house at auction. When the buyer and seller meet, and the hammer comes down, the true market value for that property will have been established. It’s a proven system of success.

Buying at auction avoids the traditional offer/counter offer negotiation process. An auction is an exciting, competitive environment where everything is out in the open. You can see your competitors and keep track of each and every bid. No deals behind closed doors!

Here’s my advice!

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Unfortunately, when buying property the chances are you will need to borrow money. This debt can be the largest debt you will ever have, and take the longest to pay off, so give the finance question the respect it deserves. And getting the best deal from the bank may save you thousands.

A Mortgage Broker can help lead you through the mortgage application process independently from the banks, get you a great deal and work with you to reduce your debt.

[Read more →]

What’s the difference between a Rating Valuation and a Current Market Valuation? Well, it can be confusing, these are two of many types of valuations that buyers and sellers might see. What the difference?

You might need a valuation for a property when you’re  thinking of buying or selling, but there are other reasons to get your property valued, for example, you may wish to borrow money or insure your property and for this you’ll need a Current Market Valuation.  And your local council levies their rates based on the valuation of your property called a Rating Valuation (RV), up until a few years ago it was called the GV or Government Valuation. Occasionally there are disputes over property, for example matrimonial disputes, commercial disputes and other issues that require a valuation.

Let’s look at the GV or your rating valuation:
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Image: Bloomberg News/Landov

The Reserve Bank of New Zealand has just decided not to alter the Official Cash Rate. If you are borrowing right now it is unlikely you will see further big interest rate reductions, so while you can get money at 5.4% the banks are suggesting you fix that rate for the short to medium term.

[Read more →]