Thinking you can’t buy a home or investment? Think again – think a fabulous new build!

Here at Lets Talk! Mortgages & Insurance if we got paid for every time we mentioned the words “new build” we would be rich as! New build properties. What does this mean?

This is a home that doesn’t yet exist – there may be a developer building a whole lot of houses – one of these could be your new build home or investment – it’s just 1 big awesome and here’s why.

If you have 20% deposit fabulous – if you don’t – you can buy a new build home as owner occupied with just 10% deposit. Now you may see builders advertising “5% deposit” but the lender needs to see 10% and this can be made up of Kiwisaver, cash and gifting. Now if you do have 10% deposit, and can service the loan, there is a process to go through, that we help you with – it’s a journey I call it. Sometimes it can take up to 18 months to 2 years to get your home, but you know it’s coming! Something to note is that the lenders do add on a margin to the interest rate (this means its higher because you don’t have as much skin in the game). This is until your property grows in value to be sitting at an 80% loan against the value and you will get there. Then finally, you move onto interest rates negotiated for you, by us.

And investors – well we haven’t forgotten you either. New builds for investors are just 20% deposit – what a no brainer. So, if you have a home and you are thinking about an investment being your next step – then Lets Talk!!

Here are some of the lenders and insurers that we work with…

Banks & insurance companies come in all shapes and sizes, and often you may not be aware of which one could give you the best solution. We do the hard work for you by comparing them all, based on your situation and future needs. We love what we do and we’re here to make a difference.