Home Loans & Mortgages
Leave the stress of getting it funded in our hands, we will help to ensure you get the best possible deal you can.
First homes purchases
At Quantum Finance we are a team focused on providing our clients with a result, we ensure to keep the process of getting a home loan or mortgage as easy as it can be so you can focus on ensuring your energy is spent on finding the perfect home.
Whether a first home purchase, a new build or a top up for a renovation.
Let us make sure you are looked after every step of the way
We can help with…
Why use a broker?
Buying a home should be an enjoyable process, however keeping up to date with the ever-changing banking requirements for purchases, getting the application together and ensuring all the pieces of the puzzle fit along with bidding at auctions, organising building contracts, finding tradies to complete inspections, arranging valuations to get the finance conditions ticked off the list while trying to maintain a job and normal life can be a very tricky task.
The process of purchasing a property will always bring some challenges which can lead to unneeded stress.
At Quantum Finance we work with multiple lenders, explain all the options, understand interest rates and which lenders have the best deals going to negotiate the best deal on your behalf, meet with you at a time that suits your schedule before, during or after hours, offer a formal office environment or more relaxed atmosphere, at your home and not to mention the best part it’s FREE as our remuneration comes from the lenders themselves.
So why wouldn’t you use a mortgage broker?
Before you buy that “Do up” or the first family home there is the daunting task of getting a deposit together, sometimes that is easier said than done. Although your rent payment can be very close to a mortgage repayment the bank will still need you to put in what can seem like a mountainous sum, check out some options below for some ideas to get the boost you require to “get your foot in the door”.
Did you know there is also a HomeStart Grant that is available that can be used in conjunction with your KiwiSaver home withdrawal?
AT QUANTUM FINANCE WE LIKE TO HELP OUR CLIENTS GET TO THE FRONT OF THE LINE
Check out these sites and apps to help you find a property understand the market and get the latest updates.
AT QUANTUM FINANCE WE LIKE TO HELP OUR CLIENTS GET TO THE FRONT OF THE LINE
Check out these sites and apps to help you find a property understand the market and get the latest updates.
Homes.co.nz
RealEstate.co.nz app
TradeMe Property
Open2View
Interest Rates
An interest rate simply put is the price paid for using money.
The rate that stipulates the floating rate is the 90-day bank bill rate. The 90-day bank bill rate is influenced by the Official Cash Rate (OCR).
The OCR is the mechanism the Reserve Bank of New Zealand (RBNZ) uses to influence 90-day bank bill rates.
The Reserve Bank’s job is to control inflation (changes in the prices of goods and services) by keeping inflation within a 0-3% band.
Interest rates are moved up and down depending on how strong the economy is. If the economy is strong and people have more money in their pockets, there is more spending and more demand for goods and services which in turn pushes the inflation rate up.
By increasing interest rates the Reserve Bank slows growth in the economy as businesses then expand less (because they pay more for money) and people have less money to spend due to higher expenses on mortgage rates and the increased cost of credit.
Because people have less money to spend this results in less demand for goods and services and therefore this acts to decrease inflation. Likewise, if the Reserve Bank lowers the OCR there will be more money in people’s pockets which stimulates the economy.
Top Ups, Refinancing, Refixing
Needing to consolidate to take some heat off the family budget?
Looking at a new car but 17.95% interest is staring you in the face?
Unhappy with your current bank and want to change?
Need to Refix your loan and want the best interest rates you can get?
Talk to a Quantum advisor now!
Loan types
Fixed rate
The interest rate you pay on your loan is fixed for a period of time. Terms are usually 6 months, 18 months and between 1-5 years. At the end of the term, a fixed loan can be negotiated for a further fixed term or it will automatically go on to a floating rate at the end of the fixed term.
Floating Rate
The floating rate can be higher or lower than the fixed rate terms. However, the lenders can lift or lower the actual rate at any time, usually when market conditions change. If this happens your regular repayments will also need to be increased or decreased to compensate.
You do however have the option of paying this loan in full or by any amounts whenever you like; you can also set your regular repayment to any level (so long as it is at least the minimum amount required). This can be done at any time while the loan is on a floating rate.
Revolving credit
Revolving credit loans work as a large overdraft. Your regular income is paid directly into this account, and your regular bills are paid out of the account when they are due.
The lender calculates the interest on a daily basis (on the daily outstanding balance), you can pay less interest on this loan by keeping the outstanding balance as small as possible.
Offset Loans
Funds held in savings accounts can be used to offset the balance in your offset mortgage account. You pay interest on the difference. E.g. if your offset mortgage balance is $50,000 and you have $10,000 in savings accounts you will pay the loan interest on $40,000. The offset mortgage is on a floating or variable interest rate.
You can have up to 8 savings accounts balances linked (the cumulative balances of up to 8 accounts excluding term deposit investment accounts). There is no credit interest paid on the savings account balances if they are linked to the offset mortgage account. You can link savings accounts in your name, your
partners name and your children ’s names.
Company or business savings accounts are excluded. Offset loans can have either interest only or principal & interest repayment types.
Sometimes packing up and moving the latest subdivision isn’t all it’s cracked up to be.
The family home in the perfect location, that has stood the test of time would be great and function better with some walls removed, double glazing, insulation, paint and of course that brand new kitchen installed.
We have multiple options to help you get the renovation funding together to help make that old house feel like a new home.
Talk to us today about a top up for a renovation
Looking at a block of bare land ready for you to create your own piece of paradise?
Let us help ensure the approval you need is in place right from the start so when you find that dream land you have been searching so hard for you are ready to take action.
Our goal is to make the process from the initial pre-approval to the multitude of drawdowns over the course of your build easy and ensure you can enjoy everything coming together as opposed to biting your nails.
Talk to us today about new buildings and construction loans.
