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. We hold multiple agencies over a range of lenders and insurers and we can design solutions that are tailor made for your circumstances. Whilst we also provide Kiwisaver advice, but we do not deal with any other investment products.
Kiwisaver only takes about 30 minutes, but mortgages and insurance are a bit more involving. We suggest two face to face meetings at 1 hr each ideally to complete what we need to do, to implement a new mortgage or insurance plan. After implementation we’ll be in contact at least once a year for the annual review – it’s optional of course but highly recommended.
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 ‘strategy’ meeting we can provide advice around your current situation without any pressure to have to change anything. This is great for complicated family loans or other situations where the can of worms could too easily be opened up!
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.