The INSIDER | LoanMarket
Hi Reader,

Spring has really started with a bang regarding activity and an overwhelming feeling that the market has already adapted within 3 months of the proposed latest round of LVR legislation changes. 

Since our last newsletter we have received significantly more inquiries from 1st home buyers, overseas investors and clients purchasing businesses along with our non major lenders securing lending where the major banks couldn't for our clients.

Although the new legislation changes officially only started 1st October, the banks were asked to act within the spirit of the proposed changes when announced in July giving the market almost 3 months to adapt.

More funding will most certainly be available for owner occupiers with less than 20% deposit in the coming weeks as all banks had to reach the revised cap by 1st October so different doors with different banks will open and close as the weeks go by. Call us now if you have less than 20% deposit.

If you would like to recap what the recent round of LVR changes are click here to read more. 

Up Coming Informal Q&A Evening - Thursday 27th October - Loan Market Office

For those of you who would like to understand the legislation changes, banks different interpretations of those changes along with an overview of how different banks policies really are in an informal Q&A environment then register for our Q&A evening at our local Loan Market branch in Queenstown on Thursday 27th October from 5.15pm to 6.30pm. Email to register as limited spaces. A great opportunity to throw scenarios out there and you will be amazed at how lenders perceive them differently.

Unsecured Business Lending Product Launch
We have a very busy period ahead of Christmas with the launch of our new business lending product this month allowing self-employed to apply for unsecured business loans of up to $250,000. We will send further details over the next week.

Car Finance Product Launch
We will also be launching our car finance product in November with rates from 9.50%. Contact us now if you would like to refinance or a pre-approval before the official launch.

We have posted several interesting articles over the last month so click the relevant link to catch up on them if you missed first time around:

Remarkables Park - latest update on proposed changes to the rapidly growing town centre - click here 

Rise and Rise of the non major lenders - a reminder that we don't just offer products linked to the big 4 banks, there are many more options - click here to read more

Arria NLG - Recount - we invested in this business over 4 years ago and this is the launch of their first small to medium business product. Its Artificial Intelligence (AI), creating your own CFO for your business by analysing the numbers in your accounting software and turning it into language. Click here to read more. (Due to float on NZX and ASX December 2016)

4 Steps to a housing Solution - we have been beating the drum for a while now that 1st home buyers should be an exempt activity from RBNZ legislation, someone else is too. Click here to read more

Bobs Cove Renovation Post #5 - Resource Consent Approved - Our personal renovation project gets closer, click here to read more.

Finally, whilst investing in property is always a big move to make, buying off the plan can come with great risks. In this article I break down some tips on buying a property that hasn’t yet been built and what you should look out for in the contract. I also explain what equity is and how you can benefit from it.

If you’re considering buying a property off the plan and have any questions, I am here to answer them.

All the best,
Stewart Mitchell & Sam Heans
Is buying off the plan a good idea?
Signing a contract for an apartment or townhouse that is yet to be built can be both exciting and daunting. After all, you’re handing over money for a property that hasn’t yet been built. Buying off the plan can be tricky but doing your homework can help prevent disappointment down the track. Here are some tips to help guide you through the process. More
Equity in property investment
If you have taken out a home loan and have been paying it off for some time, you may have access to some equity in your home. More
Official cash rate
For more information call your local expert Stewart Mitchell & Sam Heans
Mortgage Advisers Phone +64 3 4411307 | Stewart - +64 21 762 606 & Sam - +64 21 236 0229
Loan Market | FSP Number: FSP191485
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