We’ve put together a list of frequently asked questions that regularly get asked. If you have more questions, please don’t hesitate to get in touch.
More and more Kiwi’s arrange their mortgage now using mortgage advisers – about 25% and this is growing. Mortgage advisers have only been around for about 20 years in NZ so it’s not surprising that most people over the age of 50 would likely go direct to the bank. Banks are also very good at ‘staying in your face’ and it’s kind of like fast food – not ideally the best option but it’s there when you’ve had a bit to drink and you’re hungry!
Registered financial advisers. These are advisers that can provide financial advice using mortgage and insurance contracts, that take into consideration your personal circumstances/goals. RFA’s normally hold multiple agencies over a range of lenders and insurers and we can design solutions that are tailor made for your circumstances.
Authorised financial advisers. These are advisers that can provide advice in relation to investment products. This may include multiple KiwiSaver options and other types of investment products. An AFA can also provide a financial planning service which helps put into context who the various pieces (mortgages, insurance contracts, and investment vehicles) work in the long term to achieve your goals.
You can engage us to arrange your mortgage, insurances, KiwiSaver (or other investments) or just provide general financial advice. The time it takes for us to ‘get the job done’ depends on what you want us to do. As a minimum please allow at least 2 hours (2 meetings), but this could be longer if you want us to sort your life out properly. Each client is encouraged to meet once every 1 or 2 years for a follow-up review.
Yes, the rules have moved on somewhat in this area even just in the last 12 months. Acting as guarantor means different things to different people so best to unpackage what that means with your parents first – ie., are they willing to front with the deposit? Are they happy to be on the hook for your entire mortgage or just a small portion of it? Once you have a bit more info, reach out to us and we can help you take your first step.
Yes, maybe! 1 – If you own your own home remember that this can also be thrown in the mix and in some cases you can still borrow 100% of the purchase price of a secondary home (like an investment property). 2 – You can actually borrow 90% of the purchase price of an Australian rental property if you reside in NZ – so it’s way easier now to purchase across the ditch.
We’re specialists in re-structuring debt for tax efficiencies and in most cases, it’s never too late to sort this out. We’ll work in tandem with your accountant and/or solicitor to determine the most efficient way to structure your mortgage debt to achieve best tax efficiencies.
Absolutely – the best part about how Ungaro & Co work compared to most advisers, is that we provide stand-alone advisory services – at our ‘initial consultation’ meeting we can provide advice around your current situation without any pressure to implement anything. Many clients choose to initially engage us on this (fee-based) basis at the start of potentially working with us long term. Alternatively, if you have a good relationship already with someone who can implement the solution (or you’re a DIY’er at heart), we can provide the different perspective that you’d otherwise be missing.
Sorry, I don’t know the answer to that. I’m a financial professional. It might be best to talk to your health professional on that one. Also, you might want to go get looked at sooner rather than later.