Prosperity Finance

3 common risks of buying off-the-plans and how to avoid?

30 Jul 2020 | Connie | Finance 101

buying off-the-plans is not without risks. Joy from Turner Hopkins discussed the risks of buying off-the-plan that you should address before signing on the dotted lines.

Mortgage serviceability test rates have finally dropped – You may afford to borrow more now

23 Jul 2020 | Connie | Finance 101

How much mortgage can I afford to borrow based on my income? How do New Zealand banks work out serviceability? We explain mortgage affordability as a rule of thumb, and how the reduced serviceability test rate impact your b...

Things to watch when turning your family home into an investment property

20 Jul 2020 | Connie | Property Investing

When you have decided to upgrade your family home, you may want to keep your current home and repurpose it as a rental property rather than selling it. So, what should you consider before making the move?

Can I buy a mortgagee sale property?

09 Jul 2020 | Connie | Finance 101

A mortgagee sale is often a chance to grab some bargain but purchasing at mortgagee auction is not without its risk. We will cover what a mortgagee sale is, what the potential risks are, and if you can borrow to buy a mortgag...

How to take advantage of 80% LVR on investment property loan and lock it in?

03 Jul 2020 | Connie | Property Investing

Since 1st May 2020, the New Zealand Reserve Bank has removed mortgage loan-to-value ratio (LVR) restriction. Three New Zealand banks, including ANZ, ASB and Kiwibank, increased their loan to value ratio for investment propert...