First Rate Mortgages


Trading Up, Empty Nester, New Location, Offshore Buyer We Can Help

Is it time for a change? At various times in your life you may decide to sell your current home and buy a new one. This can be because you are moving to a new location, for say work or retirement, or it is time to buy a bigger or smaller home as your family needs have either expanded or shrunk. We also help Kiwis living overseas, with offshore income, who want to return home, intending to sell up say in Australia or UK and want to move back to New Zealand.

When thinking about selling, we always encourage our clients to do the research prior to putting their own home on the market. Make sure you have an idea on what it will cost to buy again, will you need to increase your mortgage, how much will this cost? Will you be able to afford a property you are still comfortable in, if selling down?

When doing your calculations make sure you allow for real estate commission, legal costs, will your Bank have fixed rate break costs or claw back on a cash contribution that was made to assist with legal or valuation costs? Another trap is when changing jobs, if you are moving to a new location, you will often have a 90 day probation term. Banks struggle to approve loans for a new home until you have completed this “trial” period.

A good first step for you, if you are looking to buy a new home, is to contact one of our team who have all bought and sold homes here in New Zealand and will happily help you do the same thing.