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 13, 2021 #13 - Debt To Income Ratios: What Are They & Will They Help?
Debt to Income Ratios.. The new tool that the Reverse Bank of NZ is going to use to slow down the housing prices.

So how does it work and how will it affect you & house prices?

Although the RBNZ is wanting the main banks to implement these measures going forward, most already are.

We have had a few applicants deferred just this week from ASB because the debt to income ratio is higher than 7.

So what does that actually mean?

Total Debt / Your Households Total Income = x (in ASB's case, this needs to be lower than 7)

Here is an example..

First home buyers earn $65,000 and $72,000 per year. They want to take on mortgage debt of $800,000.

$800,000 / ($65,000 + $72,000) = 5.8 - so that should be approved assuming the rest of the application is fine.

For First Home Buyers, it's quite an easy equation, another way to look at it is your total income x 7 is the max you can borrow.

In the same example above this would mean ($65,000 + $72,000) x 7 = $959,000 max amount you can borrow, add your deposit on top and that's what you can buy for assuming that you have no other debt floating around.

To us, that still seems pretty good and isn't really going to slow down any crazy house market...

However, this is just the tip of the iceberg - have a listen as we get into this conversation a bit more.

Questions? [email protected]
15 min
July 30, 2021 #12 - How To Buy A New-Build & How To Fund it!
The last episode should have got your seriously considering a New-Build as your next property purchase, but how do you actually go about getting finance for such a thing?

In this episode we cover:

- Home and Land Packages
- Turn-Key vs Staged Builds
- Build it yourself vs don't
- Registered Valuations
- Sunset Clauses

Most people like the idea of a new build, but have no idea how to actually go to the bank and get the money for one. This episode will help you understand what to do and what to look out for.

Our Update New-Build Buyers Guide can be found at www.tanta.co.nz/newbuildguide or just email us at [email protected] with questions :)
17 min
July 30, 2021 #11- UPDATED- New-Build as your Next Investment Property? - Pros Vs Cons
With all the changes being put in place a New Build property as your next purchase is more and more beneficial.

In this episode, Chris and I go over the massive advantages New builds have over existing properties in terms of deposit rules, interest rates, tax rules, and a few other bonuses.

We also let you know the cons; the small things that you should be aware of before buying a new build.

Our new New- Build Buyers Guide can be found here www.tanta.co.nz/newbuildguide

Tune in to the next episode where we tell you how to buy a new build.

Catch ya then!
18 min
April 16, 2021 #10 - Will Rents Increase?? (and other effects of the new Govt Rules)
Last week the government announced some big changes to how investors are taxed.

Many fear that rents will increase as a result. But will they?

We discuss - because at the end of the day, if you are renting and trying to save, then this new tax may have just made your life harder.

Need pre-approval? [email protected]

Talk soon!
16 min
March 19, 2021 #9 - Buying A New Build For Your First Home
Sounds nice right? A brand new home for your 1st home.

But are there things you need to be wary of when getting a mortgage?

Sure there is - but I think they're more pros than cons. Especially if you have a smaller than a 20% deposit.

So listen up, and if you need a helping hand please feel free to email us at [email protected]
10 min
February 10, 2021 #8 - 3 Ways Family Can Help You Buy Your First Home
Just me this week - and straight to the point.

Three ways that your family or friends can help you buy your first home.

They are
1. Equity / Cash Gift
2. Using their property as added security
3. Becoming a co-borrower.

Each one has it's pro's and cons so you better listen to this podcast!

Email us at [email protected] with questions!

Next week - How do you get finance if you want to build your first home?
7 min
January 27, 2021 #7 - Will House Prices Continue to Rise in 2021??
#7 - Will House Prices Continue to Rise in 2021??

...and if they do rise...

Should you wait until they "come down"?

5 years ago people were saying the same thing, some waited, not me through.

I brought a house. It was $455k.

Now it's worth $780k.

Can you save that amount of money in that time frame?

Most can't.

So learn how to be the right side of the property rise with this video.

And as always if you want preapproval or advice just email us [email protected] and we can help you out.
13 min
January 21, 2021 #6 - How To Search For Your First Home Easy As
Finding a home can be hard.

We've been there.

In this video we talk about tips and tricks to help you get laser-focused on your buying rules and how to get systems and other people to work for you, rather than scrolling for hours through trade me looking at houses you can't afford. Enjoy!

And if you need pre-approval or advice please email [email protected]
13 min
September 03, 2020 #5 - When Is The Right Time To Buy Your First Home? W/ Jo Harris
When is the right time to buy? A question that is pondered by many. "I'll wait til prices drop". Is a common thing I hear, but are you missing out by waiting?
If you asked me, I would say as soon as you find something you like and can afford it, buy it.
But some people have different ideas, and this is why I got Jo Harris from Lodge Real Estate to come on to this episode and discuss this very question.
We talk about timing on the purchase, what things to consider, what the market is doing at the moment and what the upsides vs downsides are if you do wait "until prices drop"

Have a listen, and let us know what you think.

For more information on Jo, check out her website here https://joharris.co.nz/

Next Episode; "Private Insurance; Do you need it?"
29 min
July 29, 2020 #4 - Making An Offer (Purchase Agreement Walk-Through)
Found a house you want to buy? The next step is to make an offer on that place, but how do you do that?

Well, you start using a Sale & Purchase agreement, in this Podcast (and video we have recorded for youTube) we walk through how to fill in one of these agreements.

We focus on what things to look out for, key elements and things that you can negotiate.

Chris Browne & I have collectively brought and sold more than 20 properties and this episode covers what we have learnt over that time and more importantly which things to look out for when signing this legally binding agreement.

I strongly advise that you have an agreement in front of you when you are listening or go and find the video on youTube to make sure you see where we are at.

More @themortgage_man on Instagram.

Watch the YouTube Video here https://youtu.be/b41_moZOi-I

Enjoy!

Please note that does not apply when buying at auction.
32 min