FAQ
What if I don't have a deposit?
You can use your Kiwisaver as a deposit. Don’t worry if you don’t know how, we do. We can also talk to you about how your friends and family can help you buy your first home if they have equity in their property. You have options, click on ‘lets meet for a coffee’ to find out what they are.
What will my repayments be?
Your repayments are based on the amount you borrow and how long you borrow the money for. You will opt for either an interest only mortgage which means you only repay the interest and not the capital the bank has lent you, or you opt for a repayment mortgage meaning you repay the interest and some of the capital you have borrowed. The interest only option means lower repayment amounts but be aware that at some point the bank will expect you to change to a repayment mortgage as the ultimate goal is to pay back your mortgage and own your home. Click on the calculator icon at the bottom which will take you to a mortgage calculator.
Is there any other way to meet the banks deposit requirements?
It is possible to use family or friend's property equity as a deposit for your own home.
Is it easier to just stay with my existing bank?
Changing an existing mortgage to another bank can incur some administration and costs. However rest assured that your Lending Pad Adviser will manage the whole process for you and would only move you to another bank if it was financially advantageous for you to do so. If you don't have a mortgage than it is a very easy process to set up a mortgage with a bank that you do not currently have any business with.
What if I haven't found a house yet?
If you haven't found your dream home yet, they can arrange a pre-approval for you so you know exactly how much you can borrow giving you all the information you need to buy your house.
What if I have already had an approval from a bank through a mobile mortgage manager or branch staff?
That's fine. The adviser can look at this offer and use it to see if they can get you a better deal. Remember mobile mortgage managers and branch staff can only recommend their organisations products. The adviser is able to go to all the banks to negotiate you the best deal saving you money.
So what happens once the deal is completed and we move into our house?
Another great aspect about using a Lending Pad Mortgage Adviser is the ongoing relationship. There will be times throughout your mortgage that you will need to make decisions on rates, terms and loan structures. Your broker will contact you a couple of months in advance to start the process again of ensuring you get the best deal in the best way for your personal circumstances.
How much does this service cost me?
Our ongoing service to you is free. The banks pay for our expertise and the advice we provide you through fee payment when your mortgage settles. The banks are advocates of the adviser industry valuing the service we provide to customers and pay us to ensure that you are provided with a good level of service.
You can use your Kiwisaver as a deposit. Don’t worry if you don’t know how, we do. We can also talk to you about how your friends and family can help you buy your first home if they have equity in their property. You have options, click on ‘lets meet for a coffee’ to find out what they are.
What will my repayments be?
Your repayments are based on the amount you borrow and how long you borrow the money for. You will opt for either an interest only mortgage which means you only repay the interest and not the capital the bank has lent you, or you opt for a repayment mortgage meaning you repay the interest and some of the capital you have borrowed. The interest only option means lower repayment amounts but be aware that at some point the bank will expect you to change to a repayment mortgage as the ultimate goal is to pay back your mortgage and own your home. Click on the calculator icon at the bottom which will take you to a mortgage calculator.
Is there any other way to meet the banks deposit requirements?
It is possible to use family or friend's property equity as a deposit for your own home.
Is it easier to just stay with my existing bank?
Changing an existing mortgage to another bank can incur some administration and costs. However rest assured that your Lending Pad Adviser will manage the whole process for you and would only move you to another bank if it was financially advantageous for you to do so. If you don't have a mortgage than it is a very easy process to set up a mortgage with a bank that you do not currently have any business with.
What if I haven't found a house yet?
If you haven't found your dream home yet, they can arrange a pre-approval for you so you know exactly how much you can borrow giving you all the information you need to buy your house.
What if I have already had an approval from a bank through a mobile mortgage manager or branch staff?
That's fine. The adviser can look at this offer and use it to see if they can get you a better deal. Remember mobile mortgage managers and branch staff can only recommend their organisations products. The adviser is able to go to all the banks to negotiate you the best deal saving you money.
So what happens once the deal is completed and we move into our house?
Another great aspect about using a Lending Pad Mortgage Adviser is the ongoing relationship. There will be times throughout your mortgage that you will need to make decisions on rates, terms and loan structures. Your broker will contact you a couple of months in advance to start the process again of ensuring you get the best deal in the best way for your personal circumstances.
How much does this service cost me?
Our ongoing service to you is free. The banks pay for our expertise and the advice we provide you through fee payment when your mortgage settles. The banks are advocates of the adviser industry valuing the service we provide to customers and pay us to ensure that you are provided with a good level of service.
What can a Lending Pad Mortgage Adviser do for me?
- Find out what you want to achieve
Meet you in person to find out what you want to achieve and make sure that we fully understand what you want to achieve now and in the future. We gather all the necessary information to ensure the mortgage advice we give you, meets your personal needs, wealth creation goals and financial circumstances. - Make everything easy to understand
The mortgage adviser taking into consideration your goals and personal circumstances will explain the options available to you. They'll explain how much you can borrow, what the costs involved will be and what the process will be from start to finish. If you haven't found your investment property yet, they can arrange a pre-approval for you so you know exactly how much you can borrow giving you all the information you need to buy your investment property. - Get the best deal on the market
Your Mortgage adviser will do all the work for you. They have direct relationships with the banks and are able to negotiate a great deal for you - normally better than what the banks advertise. They will generate multiple offers from the banks and then negotiate to save you as much money as possible giving you the opportunity to pay your mortgage back quicker or utilise the saving towards your next property purchase. - Present the offer/s to you
Once all the negotiating is finished, your mortgage adviser will meet with you and provide you with a thorough report showing you the best deals available and what this means for you. It's a simple process and enables you to walk away knowing you have the best deal available in the market. Everything we do is about making things easy and transparent for you. - Moving in
Once the decision is made, we arrange for the mortgage to be set up with the bank. You won't need to worry about anything apart from organising your tenants, renovations and plans for the property. The money will be paid on the day and you will be given the keys. - Ongoing relationship
Another great aspect about using a Lending Pad Mortgage Adviser is the ongoing relationship. There will be times throughout your mortgage that you will need to make decisions on rates and terms and loan structures. Youradviser will contact you a couple of months prior to this to start the process again of ensuring you get the best deal, in the best way for your personal circumstances. - The expertise and service is free of charge
That's right. Our ongoing service to you is free. The banks pay for our expertise and the advice we provide you through a fee payment when your mortgage settles. The banks are advocates of the adviser industry valuing the service we provide to customers and pay us to ensure that you are provided with a good level of service.
