We’ve put together some information on mortgages that every prospective homeowner should know. We explain the difference between different types of loans, repayment methods and show you what the latest lending rates are. We also highlight some mortgage options not available from all lenders. In addition, there’s a range of handy tools in the What’s Hot section, including one for people who are looking to build their own home.
When it comes to getting a mortgage, knowledge equals power. This section is written in language that is simple to understand, so that you are fully aware of all the mortgage options and their benefits. Some banks won’t do this for you, because they want you to use a certain type of loan. At Mortgage World, we lay all your options on the table and then work with you to find the one that suits you best. If you have any questions or comments, you are welcome to get in touch. |
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There are two basic types of mortgages – a fixed interest rate mortgage, and a floating (or variable) rate mortgage. There are some obvious differences and benefits for each. |
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There are three common loan repayment options: table loans, revolving credit and reducing credit. This section explains each system and the benefits of each one. |
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Owning your own home is a common goal among New Zealanders. But you may not be able to save up a deposit. You may not have a perfect credit history. You may be self-employed, with no regular income. You may think the rising property market has put your dream beyond their reach. |
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Mortgages aren’t just for houses. They can also be used as a business loan. Are you thinking of starting your own business? Or perhaps buying an existing one? It can be really difficult finding a bank that will provide the finance, particularly if the business is new and has no track record. |
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Mortgage Info