Mortgages - Mortgage Sure | Mortgage & Insurance Advisers
Buying a home, no matter what home it is, is the most exciting and daunting purchase you’ll ever make.
There is a lot to consider when you look at purchasing a home, whether it’s an upsize or downsize, buying that holiday home or perhaps even buying an investment property.
At Mortgage Sure we are here to ensure that this process is hassle-free. When seeking professional advice from the team at Mortgage Sure we will endeavor to make your dream a reality at no cost to you.
We will work alongside you to help you obtain a loan approval on favorable terms, whether that is with your current bank or an alternative bank.
What will I need to do to be able to borrow money to renovate my home?
Borrowing more money to renovate your home can be simple, if you are staying with your current bank.
Do we need to do a full application when looking at buying our second home?
The short answer for this is, yes, however if you are coming back to your Mortgage Advisor for a second time they already have a lot of your details. We still need to understand your current position and the purpose of the lending but this process is usually much more streamlined for subsequent applications.
A refinance is when you move your home loan and the mortgage registered to another bank or lender, this can be for many reasons including, dissatisfaction with your own bank, products more suited to your circumstances, or the opportunity to restructure your lending in a way that meets your goals
My whanau and I are looking at buying a holiday home for us all to share, is this possible and how do we go about getting an application together?
This sounds great! A holiday home is, in most cases, considered an owner occupied property which means you can borrow as much as 80% of the property’s value and you’re not bound by reserve bank restrictions that apply to rental properties. It’s key to understand how you’re going to use the property and how long you think you will likely own it to allow your adviser to structure the home loan appropriately
When do I get to look at my loan structure and rates?
We will discuss this throughout the process however, we don’t receive a final interest rate offer from your bank until your home loan application is unconditional. At this point, we will sit down and your adviser will present a recommended loan structure based on your goals, ambitions and current situation.
My own bank has declined my loan application, does that mean that no one will give me a home loan?
Not necessarily. We will analyse your situation and work with you to find a suitable option from our large range of lenders. Each lender has different criteria and while one may decline your application another may be happy to offer an approval for you.