The Mortgage Man - A podcast for everyone with or wanting a mortgage

By Aaron Cattell (The Mortgage Man)Education How To

The Mortgage Man - A podcast for everyone with or wanting a mortgage episodes

August 17, 2022 #43 Which Bank Is Best?
Banks have been getting a bad rep lately with all the new rules and them just trying to de-risk themselves in a property market full of unknowns.

But if you want a home, you kinda need a bank to give you money.

So, which is best?

Well, it depends on your situation and the current rules at the bank.

If you want a new build, then some banks are better.
If you have a smaller deposit then you might only be able to go to your own bank.

If your income comes from a self-employed business or from overseas then others a better for you.

The great thing? You don't really have to know which is best based on your situation, you just need to entrust your application with a mortgage broker that knows what they are doing.

So listen in, learn some stuff and then send us your information. :)
15 min
August 05, 2022 #42 Buying In A Different City That You Work? It's NOT That Simple
It might be tempting to want to buy in a different town to where you work to make it more affordable for you to buy your first home.

However, it doesn't work like that.

There are rules..

Firstly the commute - it kinda needs to be less than a 1-hour drive from where you work. But now if you can work from home.

If you are thinking you can live in one place on the weekends (your home) and then rent in the city you work in then we need to add that extra rent to your expenses which will usually throw the numbers out.

Or you could buy an investment out of town?

Then there are other things to consider. You won't be able to use your Kiwisaver for one and then what is the long-term plan?

A lot to think about, hence the podcast episode.

Have a listen, I am sure it will help you.

17 min
August 04, 2022 #41 Revolving Credits & Offset Savings; Are They For You?
Revolving credits are complicated.

It's one of those things that you learn by doing; but in this episode, Chris & I try our very best to describe how these accounts can save years off your mortgage & save you $10,000's in interest.

We cover who these kinds of faculties are good for and who should stay well clear.

We also go over how to make the most of the accounts and what pitfalls to look out for.

They are not for everyone but used correctly they can be very effective.

[email protected] if you think our explanation was on point.
22 min
July 28, 2022 #40 - Mortgage Jargon 101
We sometimes forget that the language we use when talking to first-home buyers is not appropriate.

I don't mean we use swear words or shout profanities but more so we use words that you may have never heard of.

Our fault.

But also lawyers, real estate agents, and other pieces of educational material use these same terms.

So in this podcast, we get to be a walking, talking dictionary - with a bit of banter mixed in.

It's important that you know these terms so you are 100% certain when you hear them and avoid any confusion when buying a house (it's kinda a serious thing)
18 min
July 28, 2022 #39 Pros & Cons Of Buying With Family & Friends (& the #1 thing you must do before purchasing)
It's tempting.

Pooling your money & income with a friend or family member so you can buy a home or a better bigger home that usually wouldn't be able to afford.

Although it's a great idea at the start of the process, what about at the end?

What if one of you no longer lives there or wants to sell?

Or has to sell?

There are many things that could happen and not all of them turn out great for the relationship.

In this podcast, we cover what you should do, and what to be aware of in two different scenarios.

- Buying with a sibling or friend
- Buying with parents

It's very likely that you have considered one of these two options so knowing what to look out for is essential.

All of the three boys here at Tanta have brought with a sibling in the past so we know more than enough on this topic as well as doing mortgages for multiple people in this situation.
23 min
July 20, 2022 #38 July Update For First Home Buyers; Everything You Should Know
It's been a busy month in July for mortgages and offers.

This podcast covers all of it.

We go over 7 key things.

1. 1% cash back from BNZ
2. 1% interest rate for top-ups at ANZ
3. Inflation is at 7.3%
4. OCR is up 0.5%
5. Test rate is up at ASB
6. Which banks are offering loans to people with less than a 20% deposit.
7. Today's current interest rates.

And a whole lot of banter.

Enjoy!
17 min
July 07, 2022 #37 The Benefits Of Using A Mortgage Broker Instead Of Going Directly To The Bank
It's taken us a while to realize that after 36 episodes we haven't done one on the benefits of using a mortgage broker instead of going directly to the bank for your mortgage.

There are a lot of benefits that we discuss within this episode but it comes down to a few key benefits;

- Advice; we teach you how to buy a house
- Personalisation; We know which bank and which products suit your situation best
- Ease of Use; Instead of you visiting each bank separately and explaining your situation we can do that for you

..and of course, it's free to use us and we will get you the same if not cheaper rates than what the bank offers you.

[email protected] to work with us.
18 min
July 01, 2022 #36; Is It REALLY The Worse Time In 65 Years To Be A 1st Home Buyer?!
Did you know that the average first home buyer in 2021 put 49% of their household income towards their mortgage?

Back in 1949, the average house cost was only 2x the average household income. Now it's up to 10x.

So is now the worse time to be a first home buyer and should that stop you from buying?

We can't change the past; only learn from it.

And although that might speak true for the last 65 years, what about the next 65? Could right now be the best time in the next 65 years to buy?

We don't know.

So if you want a home and can afford it because the bank has said so.

Then you can either get your home now or "wait and see".

There are still people from 5 years ago "waiting and seeing" that would be a lot better off if they were brought back then.

Maybe you are thinking "You guys just want us to buy a home so you get paid"

Listen to the podcast to see if that is the case (it's not)

17 min
June 22, 2022 #35; 3 Ways Kāinga Ora Can Help You Buy Your First Home
Kāinga Ora is great - if you meet their eligibility criteria for help.

In this episode, we discuss the three ways that Kāinga Ora can help you buy your first home.

- Home-Start Grant (that's up to $20,000 of free money towards your deposit)
- Shared Ownership ( you both own the property, they can contribute up to $200,000 for this)
- 5% Deposit Lending (they will lend you money to top up your deposit)

Each of these has its own rules so listen up and figure out which if any, can help you.

[email protected]

10 min
June 20, 2022 #34 Are Banks Discriminating Against First Home Buyers?
Right now, first-home buyers have got it tough.

And it's easy to blame that on the banks or the government which tells the banks what to do.

But instead of just complaining about it (don't worry we do that too); we wanted to give you a helping hand to use this tough time to your advantage.

Are banks making it harder for you?

Yes.

If you have a less than 20% deposit then you will be treated as a "risky borrower" and banks have been told to reduce the about of borrowing to this group.

But you can see why right?

They are protecting their business.

And to be fair if one of the major banks collapsed our economy would be in pretty horrible shape- so we don't want that.

But here is the good part;

If you are wanting to buy a new build and even if you have a 10% deposit then the policy rules are in your favor.

Plus you get a new build property.

Listen to Ant and I as we discuss and talk segways.

[email protected] if you need help :)
13 min