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'New builds' to be exempt for 20 years

Interest deductibility rules for property investors detailed; 'New builds' to be exempt for 20 years The Government has defined what it proposes will constitute a “new build” to be exempt from a major law change that prevents residential property investors from deducting interest as an expense when paying tax. The Government proposes a property be considered “new” for 20 years from the time its code of compliance certificate is issued. It proposes the exemption applies to properties that...

September 29, 2021

Time to review your mortgage

Tweaking your mortgage could save you thousands in interest, allowing you to have some extra cash when you really need it. And it's not only about getting a better interest rate, it's about structuring the mortgage in the right way too. Some reasons to review your mortgage Whilst interest rates are currently low, they're forecast to increase.Lending criteria is becoming stricter so make sure your current mortgage structure is future-proofed.Changing how your mortgage is set up could free up much...

September 23, 2021

Conditional vs Unconditional House Offers

Knowing the difference between an unconditional offer and a conditional offer for a property is important. Both have different legal obligations and expectations, and you're going to want to be clued up on those before you enter the market. Here's a rundown of the basics around offers, and how to make them safely. WHAT DOES UNCONDITIONAL MEAN WHEN BUYING A HOMEBroadly, the term "unconditional" when applied to the purchase of buying a house can appear twice in the process.  Firstly, the term...

July 20, 2021

How to survive a hike in interest rates

The mortgage interest-rate good times had to stop eventually and ASB signalled this might be happening by raising their home loan rates by 0.3% to 0.36% across the board this week. The cheapest rate at ASB is now 2.55% - up from a low of 2.19%. A hike of this level means an additional annual cost of around $360 per $100,000 of mortgage. It would therefore not be a stretch to imagine a lot of homeowners will need to find at least $3000 more per year. At the point of writing, no other bank ha...

July 16, 2021

What you need to know about a new build

With a fixed price contract before construction starts, lower loan-to-value ratios and deposit conditions, and a home built to high standards, it’s not surprising that buying off the plan is attractive, especially for first home buyers. If you’re considering building your own home or buying into a brand-new development, here are some things to consider when financing the construction of your new build. Buying off the plan means agreeing to buy a property from a developer before it has been b...

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