04-Sep-2020
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22-Jul-2020
Ryan Smuts: 4 things to watch out for when working with 2nd-tier lenders
Second-tier/non-bank lending is not for the faint-hearted. Rules differ widely from traditional property financing. Still, with the banks taking a tough stance on property lending these days, it pays to open up your mind to second-tier lenders to get yourself moving forward. I have been asked to share some not-so-obvious tips with first-time borrowers in the second-tier market: Compari... read more
22-Jun-2020
Ryan Smuts: Do banks care about overseas income and debts?
Hell yeah! Banks always want to know your full financial position when assessing lending. They want to understand what your commitments are before they proceed in deciding on whether to lend you further funds. Just because you have liabilities overseas for example, this shouldn’t be treated any differently. It is no different to approaching ANZ for a loan, and not telling them about ... read more
11-May-2020
Ryan Smuts: Understanding serviceability
I get asked about bank servicing criteria all the time. Comes with the territory I suppose. The cautiousness I totally get. Imagine putting in all the hard work to get prepped up as the ‘ideal borrower’ only to find that the banks are looking at something else entirely different! Say you are after a home loan. You take your living expenses away from your net income to work out your mont... read more
21-Apr-2020
Ryan Smuts: How to raise money quickly
In certain markets where properties are moving quickly, your ideal scenario would be to aim at being in a position to purchase and move at the same pace as the market, that is being ready should a good deal presents itself. It is always better to be prepared for an opportunity and not have one, than to have an opportunity and be unprepared for it. Our recommendation would be ... read more
24-Mar-2020
Ryan Smuts: I’ve just changed jobs, what does my lender need to know?
A little note from us: Though the effects of Covid-19 are being felt acutely across the board at the time of this article being published. We feel that it is important to, as much as possible, keep with our original content schedule to maintain normalcy and provide a balanced range of information to help our readers make better decisions long term. This article was produced before current e... read more
21-Jan-2020
Ryan Smuts: How to finance a deal when you are investing with someone else
When it comes to investing in properties with a partner*, be it a spouse, a friend or colleague, funding rules can differ from lender to lender and would depend on the nature of the relationship between the parties. The key things to be aware of are outlined below: For the most part, lenders would assess applicants jointly if the partners are also (de facto) spouses. For example, in the c... read more
27-Aug-2019
Ryan Smuts: What investors need to know about the recent OCR cut
The OCR has been cut recently by 0.5% - a lot higher than many economists were initially expecting. What might this mean for the borrower? Over the last fortnight, we at the Kris Pedersen Mortgages team have seen some key effects come into play: across the market floating rates have dropped and in many cases, as much as 0.5%. Lenders like ASB for example took their floating rate down f... read more
15-Jan-2019
Ryan Smuts: What can you do if you bought at the top of the market?
This is a question that often troubles people, as they are unsure about how to proceed from here in terms of maintaining and/or growing their property portfolio further. I think some key things need to be considered: What did you actually buy? This is important to know because it will help you determine whether to hold or sell. Did you buy something in a likely high-growth or low-growth a... read more
15-Oct-2018
Ryan Smuts: What to expect when you use a mortgage broker?
How do you know a broker is going to give you the best advice, and why is it worthwhile going down this path as opposed to going to your own bank? Well, this is a timely topic and definitely is a valid question. Typically the barriers to entry in our market are relatively low, and in terms of qualifications, not too much has to be done to be giving advice in the mortgage in... read moreRecent Posts
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