Currently, investors are essentially subsidised to outbid homebuyers. Instead, why not give homebuyers a tax cut and make the speculators pay? Have you ever wanted to throw a party but worried no one would come? My wife and I thought of having a party this year to celebrate paying off our mortgage but quickly realised … Read more
Super-low interest rates are a blessing to those already on the housing ladder. For those still renting and without a deposit, it is yet another nail in the long-sealed coffin of potential home ownership. Last week, when Heartland Bank became the first lender in New Zealand history to offer a home loan interest rate below … Read more
We needed a reasonable period of time to allow the recent surging wave of highly geared first home buyers to get financially comfortable. We didn’t get it, writes David Hargreaves of interest.co.nz. You know, I was really beginning to think (as well as hope) that we might just get away with it. By ‘it’ I mean the … Read more
Simplicity has fired a shot across traditional mortgage providers’ bows – and says if you think home loan rates are as low as they can go, you ain’t seen nothing yet. Mortgage rates could be a whole lot lower, argues KiwiSaver provider Simplicity which has launched the cheapest home loan in the market. From November … Read more
Buying your first home is confusing, stressful, and a huge financial decision – and nobody knows that better than those who have actually done it. Here’s The Spinoff’s advice, gleaned from sometimes brutal first-hand experience. Buying a home is intimidating. Buying your first home can be terrifying. Once the adrenaline rush from bidding at the … Read more
It’s Rent Week here on The Spinoff, so why are we writing about house buyers? Because the booming housing market is a key driver behind the current surge in renting – and because stories like these demonstrate the enormous challenges faced by those attempting to make the leap from renter to home owner. We talk … Read more
Falling interest rates are great news for homeowners – but pocketing your mortgage savings could be the worst financial decision you make, says the Commission for Financial Capability’s David Boyle. A couple of things happened in 1988 that stick in my mind: I got my hands on The Pogues’ album If I Should Fall From … Read more