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NZ Home Buyers Guide
Here we look at the types of ownership and what to look for when buying your first home.

Guide to applying for a NZ home loan
This 5 step guide outlines what you will need to prepare and what we will do to assist you with your mortgage application.

NZ Mortgage Repayment Calculator
Calculate your monthly or fortnightly repayments with this mortgage repayment calculator.

Want to buy NZ Property but live Overseas?
At Approved we have many off-shore clients - Expatriate Kiwis and people looking to emigrate or invest in New Zealand.

NZ Bank Fees
Here we look at the various fees associated with mortgage finance.

The Legal Process
See how the legal process works when purchasing a property

Are you Protected?
Approved's Insurance Guide

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Saving & Investing
  After being mortgage brokers for many years it becomes apparent that it does not matter what your income is?it's what you do with your income that really counts. Full story...

Why buy NZ Rental Property?
Here we look at the advantages of investing in New Zealand rental property and why the current demand is so high.

Why Have an LAQC as your Investment Vehicle?
If you are investing in rental property in New Zealand you may benefit by setting up a Loss Attributing Qualifying Company.

 



More happy Approved Mortgage Broker Clients!guide to applying for a home loan

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The legal process involved with your NZ mortgage application

The legal process is a complicated part of the mortgage process. While you only need to meet the lender's requirements and sign the documents, it is worthwhile understanding exactly what is happening 'behind the scenes'.

Key Legal Stages

There are five key legal stages in the mortgage process:

Stage

Description

1

Mortgage finance approved (ideally before offer made)

2

Sale and purchase agreement:

 

Step 

Action

 

1

Buyer makes offer.

 

2

Buyer and seller agree on the following:

  • Property to be bought/sold
  • Price
  • Finance date (when finance must be approved by)
  • Settlement date (when ownership changes)
  • Conditions
 

3

Sale and purchase agreement sent to the buyer and seller's individual solicitors (includes the information in Step 2).

3

Finance date:

  • All conditions must be met or the finance date is extended.
  • Mortgage finance must be confirmed.
  • Offer now considered 'unconditional'.
  • Buyer pays deposit to seller

4

Sign mortgage documentation:

  • Loan documents sent from lender to solicitor
  • You sign loan documents with solicitor

5

Settlement date (Conveyancing):

  • Title (ownership) passes from seller to buyer.
  • New owner must now insure property.

Property Inspection

Approved Mortgage Brokers advises inspecting the property prior to settlement to ensure no damage has occurred to the property or chattels.

In Summary

It is our job to do the leg-work in arranging the best mortgage option for you; to find the best interest rates and lowest fees, taking the stress out of buying a home. Whether you are buying your first home or investing in rental property please contact us through our no obligation online questionaire.

Next: Apply online with our brief questionaire...

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