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We are financial advisers that have specialist training in property lending and are registered with the Financial Markets Authority.
We ‘work the numbers’ and present the best options to our clients. We consider what you want to achieve as our clients, and what future plans you have and set you on the right path.
We take care of all of the bank jargon and pesky paperwork throughout the lending process.
We specialise in helping people in all situations. If your situation is unusual then most banks and mortgage advisers will not have the knowledge, experience, and contacts to get your loan approved. We know exactly which lenders can help and how to present your loan application!
You’re our customer and we will work with you to make sure your experience is positive and memorable. As a testament to our success as a team, we receive many Google referrals from satisfied customers which you can view.
We believe in building strong, long-term, relationships with our clients through personalised contact and interactions. We offer a service that takes care of you throughout the lending process, so you have a dedicated contact for your needs. With a collective, 50+ years of financial knowledge and service, we pride ourselves on being there for you from the initial assessment to well beyond loan settlement.
Our goal is not just to help you now, but to be with you throughout the life of your mortgage. We will be available to you for your needs now, and your needs in the future.
Our primary role is to get you the best loan approval, however, we can put you in touch with buyer’s agents and real estate agents that specialise in helping you with the house hunting. When you find suitable houses, you can share the details with us and we can ensure it meets the lending requirements.
We maintain the highest standard of training and education, as well as compliance with government regulations. All our advisers are registered as Financial Service Providers. This means we are regulated by the requirements of responsible lending, the Financial Markets Authority, Our FSP is 1004075.
Most of our pay comes directly from banks. We generally get paid a commission from lenders when a loan settles. With a main bank, this ranges from .55% to .85% of the loan amount. The banks that pay a lower upfront commission generally pay “Trail” commission. This is a smaller amount that is paid monthly to us, based on the current balance of the loan.
Sometimes, lenders do not pay a commission for the lending required by the client. We generally charge a fee for these loans & generally the fee is added to the loan.
The vast majority of our pay comes directly from the banks, not from our clients. We do most of work required to setup your loan, for which they paid us a commission.
If your lending is going to incur a fee, we promise we will discuss this with you upfront before you have to commit to anything and before you incur any costs.
As mortgage advisers, we do all the hard work. All you will be required to do is provide us with the information for the application and supply the required documentation. We can then complete a review of your borrowing potential and work towards submitting a full application for approval from there.
The lender may come back with questions or conditions, but we are here to walk you through each step and make sure you are comfortable with the approval options we get for you.
Whilst you might have heard that you need a 20% deposit to get a mortgage that is not always the case. The majority of first home buyers have less than 20% and often have a 10% deposit. We even have options where only a 5% deposit may be required. Your deposit can be made up of savings, gifting from family, Kiwisaver, and the First Home Grant. The only way to know what is possible is to talk with our advisers.
Most costs are not covered by the lender, and it is good to be prepared for these, not everyone will need all these items. Prices can vary depending on what you are buying, the lender’s requirements and how much due diligence you decide to do on your purchase. Legal costs are always required, but most other costs can be at your discretion.
Below are a few examples.
The work involved in going through the mortgage process varies depending on your circumstances, there is no one size fits all approach. The below details will help you and your adviser look at what is possible.
The only way to be sure is to complete an assessment with our advisers. They will consider the following:
After an initial consultation (usually 30 – 60 minutes) we will be able to give you an indication.
Because we deal with so many different lenders and customer circumstances there is no one answer. The amount you repay is based on the amount of deposit you have, the amount that you borrow from the lender, and the interest rate they charge for the loan.
You can get an indication using mortgage calculators online, but the best way is to have our advisers complete an assessment for you. You will be given the best interest rate available for your situation.
We are experts in most lending & have relationships with over 40 lenders. Our goal is to secure you the best lending products for your specific needs. Often, we have to think out of the box & find solutions for our clients that they did not think was possible.
Every person’s situation is different, especially when it comes to finance. Commonly, we help with securing loans for:
Get in touch with us to discuss your situation, you might be surprised how possible it is.
People make mistakes with money and if you have bad credit or have been bankrupt it may mean that our advisers seek alternative lenders to the mainstream banks. It is still very possible to get a mortgage. There are a few different requirements and costs for these applications that we will talk you through.
Going directly to a lender means you can’t be certain you are getting the best deal for your situation. The only way to be sure is to take your circumstances and put through an assessment across all lenders. Not all lenders are the same and we hunt for the best deal and criteria. We also help you with all the moving parts such as lawyers and we can tell you what to expect.
At Aspire we are also invested in your success, we’re not a large corporate machine and every client is important to us.
LVR is short for Loan to Value Ratio. This is a term used by the lenders to describe the percentage of the property value that you are buying. It is calculated by dividing the loan amount you are borrowing, by the value of the property or the purchase price.
For example, if the house was valued at $1,000,000 and you borrowed $500,000 then your LVR would be 50% because you have borrowed half the value of the house.
Lower LVR’s are less risky for the banks and typically attract lower interest rates.
LMI is short for Lenders Mortgage Insurance. In New Zealand, this is generally charged in association with Kainga Ora First Home Loans.
This insurance product is used by the banks to mitigate the risks associated with low deposit lending. If you default on your lending, the insurance product may cover the lender’s loss.
This also allows the lender to view your lending with less risk, and give you their best interest rates, which is great for you!
The settlement is the term used for the day you move into the house. On this day the bank advances the loan to your lawyer. They then transfer the funds from the bank along with your deposit funds to the seller’s lawyer. Once that is done, you officially own the property and will get the keys.
People refinance their homes for many reasons. It means that you repay the mortgage by getting a new one usually with a new lender. Sometimes you are just borrowing more money from the same lender, which is commonly called a ‘top up’. That might be to renovate or buy a new car.
Refinancing through a new lender, however, is often to get a better deal and consolidate debts like car loans and credit cards. This means you can have one loan payment instead of multiple.
There are often benefits to refinancing with a different lender and it’s best to discuss these with us to ensure you’re getting everything you’re entitled to.
We take the privacy of our clients seriously and have secure networks and information storage and destruction. We don’t sell or use your data for anything other than what is stated in our Privacy Policy.
Most of the loan process for building a house vs buying an existing house is the same. Banks will apply the same lending criteria when it comes to things like your income, expenses & deposit.
The big difference is the “Security” (the property or house the loan is secured against), has not been completed yet. How the bank looks at the application will depend on the type of build contract you have (turnkey, progress payments, labour only, etc).
Also, sometimes you buy the section first, and then build later. This can be all approved at the same time, or you can choose to just get lending for the section, and a build loan later.
When you borrow money there are different interest rates that apply for mortgages, personal loans and credit cards. The credit cards and personal loan rates are often much higher.
Mortgage interest rates are lower and are based on your circumstances such as how much deposit you have and if you have good or bad credit.
Once you have agreed on the interest rate it can be locked in for a period of time. This gives you certainty with the interest rate and your repayments. Getting the repayments that best suit you and your budget is important. Our advisers will help you with that.
The most common interest rate options are:
Every property has a record of ownership, you can often find these at the local council and online. When you purchase a property, a lawyer will transfer the ownership into the name of the purchaser, and it is recorded that you own the title to that property. It is effectively a change of ownership.
