Mitchell Williams - Vega Mortgages

Always great to receive positive feedback for helping customers into homes!

"I am SO glad to have found Mitchell. Our first advisor seemed to keep moving the goal post and our dream felt like exactly that - a dream, not a goal.
Along came Mitchell! From the first phone call Mitchell filled me with confidence that we were ready and able to proceed, and boy did we!
Mitchell’s communication is just one of his amazing attributes. He was contactable throughout the entire process and there seemed to be nothing that he didn’t know the answer to. More so, Mitchell seemed excited and invested in our journey, we never felt like we were a burden to him but were more excited to share news and updates.
Mitchell went above and beyond to secure us the home we wanted, and it felt like he carried the stress for us. Our process was as smooth as we felt it could be, and we went from initial phone call to land owners with a progressive build plan in just 4 months!
I highly recommend Mitchell if you’re looking for an advisor who’s savvy, up with current guidance and who will lead you through the process with confidence, answering any questions you may have.
11/10 - I can’t imagine ever looking beyond Mitchell for mortgages in the future".

Whilst this job can be very stressful at times, it is always nice to receive positive feedback, to reassure me with the work I do to help customers. And as I tell a lot of new customers, just because you have been declined by a bank or another adviser, doesn't always mean it is the end of the road, as the below review mentions.

"Mitchell has been super helpful, friendly and amazing ever since the initial phone call. My partner and I were told we wouldn't be able to achieve what we wanted, however Mitch proved them wrong! He went above and beyond with his communication. Knew the answer to every question and there was never a time where we could not get ahold of him. Mitch made our first time through this process real smooth and we couldn't thank him enough for helping us achieve our goal. And if you want the same, Mitch is your guy! 10/10 RECOMMEND. :)"

***Rates update***

The OCR update a few weeks ago has prompted some banks to lower their advertised rates, which is very encouraging for current or potential homeowners.

The rate changes are as below:

- ASB lowered its 6-month rate from 7.39% to 7.29%, its 1-year rate from 7.29% to 7.24%, and its 2-year rate from 6.85%

- ANZ lowered its 1-year rate from 7.39% to 7.25%, its 18-month rate from 7.15% to 6.89%, its 2-year rate from 6.89% to
6.79%, and its 3-year rate from 6.75% to 6.65%.

- BNZ lowered its 6-month rate from 7.39% to 7.29%, its 1-year rate from 7.29% to 7.24%, its 18-month rate from 6.99% to
6.89% and its 2-year rate from 6.85% to 6.79%.

These are all the **advertised** rates, however. All banks, in the background, offer brokers and high-value customers better rates than the above, so it is always important when buying or refixing, to make sure you are getting the best rates available and not paying more interest than you need to.

Exciting news today! My new Executive Assistant Tarah has started working with me.

Tarah and I worked together at BNZ and she has a large amount of customer service experience. She will be assisting me with contacting customers, processing loans, marketing and keeping me on track. Which means more free time for me to help more customers!

So if you are a previous or future customer, don't be surprised if you hear from Tarah from time to time 🙂.

Stoked for these two, who have just purchased their first home, via auction.

The great thing about being an adviser is that we can assist customers anywhere in New Zealand and really quickly. These guys contacted me 2 weeks ago, whilst I was in Vietnam on holiday. The whole application process, dealing with the banks and getting them to a stage where they could bid unconditionally at auction, was all done whilst I was on holiday, with a 6 hour time difference.

Communication, speed and knowledge is really important as a adviser, especially with tight timeframes, so finding the right adviser who will go the extra mile can make all the difference 👌.

Hi guys. There has been a lot of talk recently about what rates will or won't do and it is hard, even for us adviser's, to try think of what is best to do. Attached is a report ASB has put out this month, that will provide some context as to why rates have been rising and where they might end up in the short to medium term.

Unfortunately I could not attach this as a PDF file, so hopefully the photos are able to be read clearly on your devices! Let me know if you have any questions.

***Kainga Ora Partner Scheme update***

Some of you may have read in the news of some changes to the Kainga Ora Partner Scheme. For anyone who doesn’t know, the Partner Scheme is where Kainga Ora provides money to customers to help with their deposit. Kainga Ora can help with either 25% of the house value or $200,000, whichever is lower. Whatever percentage of the house purchase price they gift to the customers as a deposit, is how much of the house Kainga Ora takes ownership of.

It can be slightly confusing but basically Kainga Ora help people into homes but take co-ownership of the house. The customers then have 15 years where they are meant to buy Kainga Ora out of the portion that Kainga Ora own (at market value). I know a lot of people aren’t keen on this, as they do not want to co-own a house with the government, but for some, this is their only option due to their financial position. The money Kainga Ora gives to the customer is interest free and at pretty generous repayment terms.

Previously, people could only qualify if their household income for the last 12 months was under $130,000 and if they were buying a new build. This has now changed, however, as the income cap is now $150,000 and they can buy new or existing houses, which is a game changer.

I personally have seen a decent uptake in enquiries from people due to these changes and I think for a lot of people who have been rejected previously for home ownership, this will open a few doors that may have been closed, which is great. Let me know if you want to know more!

Westpac has announced today a change to their Greater Choices home loan special. You now can obtain lending up to $50,000, on a interest free 5 year loan term.

This loan can be used to purchase:
· Electric and Hybrid Vehicles (Plus chargers)
· Hot Water Heat pumps
· Rainwater Tanks
· Wood burners
· Insulation
· Double glazing
· Ventilation
· Solar power systems

Other banks have similar products such as this, for energy efficient or green purposes. If you are looking to do any of these, please let me know, to get the best bang for your buck and save on interest.

Whilst most of the news of late has been around high interest rates, there has been a few positive bank policy changes, which may have a big impact on people buying houses. These are:

- All main banks (ANZ, ASB, BNZ and Westpac) now approving low deposit lending (when you have between 10 and 20% deposit). Normally you need to be a existing customer of the bank to obtain this, but ANZ, BNZ and Westpac are now happy to assist non-customers as well.

- All main banks are now able to lend up to 65% LVR for a investment property. This means to buy a investment property, you now only need a 35% deposit, instead of 40%. This can come from cash or house equity. Whilst a 5% difference is not huge, it is a positive step forward.

Hopefully there continues to be more positive news in future to help people into homes!

Some positive change to start the week, as ANZ has changed their policy to require less deposit, to buy an investment property.

For a while, if you were buying an investment property, you would need a 40% deposit. Now, at ANZ, you only need 35%. Whilst this is not a massive change, it will make a bit of a difference and make it easier to buy investment properties.

I imagine other banks will also change their policies to allow for this moving forward. This could see more investor activity in the market in future.

As of yesterday, I am now an accredited adviser for TSB bank! TSB are very selective with what adviser companies they work with, so very few advisers in NZ are able to submit to them. Due to Vega Mortgage's strong market reputation, I have now become accredited and can begin to help TSB customers or people wanting to move there.

TSB is one of the few 100% NZ owned and operated banks still trading in NZ, so for those of you who prefer to 'Keep it Kiwi' and still get great interest rates, they are a great option to consider.

*** Interest rate alert***

The first major bank in NZ has now raised their interest rates, in response to the OCR increase last week. ANZ has now increased their 6 month, 1 year, 18 month and 2 year rates by approximately 0.2%.

This was not unexpected however, after the OCR went up by more than most economists forecasted. I imagine that the other banks will follow suit in the next few weeks and match the rates of ANZ.

One thing to note is the 3-5 year rates are unchanged. This suggests the banks think rates will be lower before then, so they want to 'lock' customers in now for these longer period, at a higher interest rate.

If you have any rates coming up for review in the near future or just want to chat about your current or future home loan, give me a call!

As a mortgage adviser, I take the stress away when applying for finance. This FREE service means you can sit back, find the perfect home and not be overwhelmed with bank paperwork and jargon.

I'll guide you through the process, from first call to settlement, and make sure you get the best approval and rates. With access to 25+ lenders, including 'main banks' and 2nd-tier lenders, I will make sure all available options are looked at.

Let me know if you or anyone you know are looking for some help.

At Vega, we have now partnered with Simplify, who specialize in Asset Finance lending. We now are able to refer customers for lending on cars, boats, caravans and other assets, so you can have expert advice and obtain the best rates in the market.

Unlike with home loans, a lot of people don't realize that you can actually refinance debts such as credit cards, buy now pay later facilities or vehicle loans. By doing so, it can help you get on top of these repayments, take control of your finances and lower how much you pay per month. If you are looking to buy a house in future, it also makes your financial position look tidier to the bank.

Follow the QR code below to have a look at what your repayments could be, or flick me a message to chat about what you are trying to do!

‼️ATTENTION‼️

Do you have some rates that are falling due now or in the near future? A leading bank is currently offering 4.99% fixed for one year! This offer is available for a limited time only.

If you are interested, flick me a message to see if you are eligible.

Subject to change. Normal lending criteria applies.

There is no better time than now to look into refinancing your mortgage. By looking at your refinancing options now, you may find a better rate that could save you thousands!

I am here to speak with you and help you achieve the best possible option for your own personal situation. This may be refixing, refinancing or just re-assuring you that your current facility is best for you.

Let me know if you want to have a chat!

Merry Christmas everyone!

2022 has been an interesting and challenging time in the property market, with rising interest rates and house prices dropping. I made a big decision at the start of last year to become a mortgage advisor but have loved every step of the way. I am thankful to have worked with so many amazing clients and helped lots of them into their first or next homes.

2023 is shaping up to be another challenging year and now more than ever, people need the right financial advice, at the right time. If you or someone you know are looking for help applying for a home loan, or even just want a second opinion, please let me know.

I will be taking a few weeks to recharge for the new year, returning 9th January. I will still be contactable on 0277100553 until then however, so please reach out if you need anything before then.

It was great to help give back to the Ronald McDonald House, alongside my colleagues, at our recent company function this week.

Another bank goes green! BNZ has now joined ASB and ANZ with offering an energy efficient loan to their home loan customers.

If your home loan is with one of these banks, or you are happy to refinance to them, you may be eligible for up to $80,000, fixed at 1% for 3 years. This loan can be used to buy a EV/Hybrid, install double glazing, ventilation, solar panels and a few other energy efficient renovations.

If you have thought about doing any of these, now is the time. Why pay 6-10% at a hire purchase company or use your own cash, when you can pay 1%! Let me know if you want to see if you can qualify for these great loans.

Settlement day! It has been great to help this family into their first home. It was all worth it to see how happy their kids are to have a house that is now theirs. From not knowing it was possible, to owning a house a few months later, this has been a rewarding process.

If you or anyone you know is wanting advice or assistance, let me know - I am happy to help! There are lots of different options, and various ways to do it. Brokers are free as we are paid by the banks. So why wouldn’t you?

Great to help some more amazing customers into their dream home recently and receive some really kind feedback. If you have any friends or family who are looking for some assistance, please let me know, Sometimes you are closer than you think to owning a house!

"My sister and thought we were going to be able to buy a cardboard box in the middle of nowhere… But we were able to buy a cute home in Hamilton! I was adamant my sister and I were wasting our time making an appointment as we were sooo far away from having approval, but after our appointment Mitchell was able to finish the application and send it to the banks and we were approved! Mini heart attack but with the best possible outcome.
He even put in the mahi after the standard 9-5pm as we both work + my sister has a child so our hours can be funny, especially in the end of day debrief shower when you come up with questions.
Mitchell was great, he made our dream a reality"

"We went to see Mitchell as our first steps towards buying a home, we expected to not be in a position to buy for another 6months and had come to grips with the fact we'll probably have to drive 40+minutes each way to work and back as we didn't think we could find something to fit our budget in the same town as our jobs... fast forward a mere 2months we're already moved into a beautiful house that we're making our home, just 4kms from work. we can't believe that it's all happened so quickly and it's been such an amazing experience, if it weren't for seeing him when we did we'd still be trying for that distant dream of buying.. 100% would recommend having a chat, you might be closer to your dreams than you think too."

Ever had issues with a bank, when trying to buy a house? Or think you are getting declined for no reason? Maybe you are!

I was referred some customers last week, who had been told they needed to wait a month to reapply to, so that their bank could ‘monitor their spending’ and decide if they were satisfied with it. This is not how the CCCFA laws should be applied, as customers can advise banks what their proposed spending will be, once they purchase a house.

We therefore applied to this same bank and within 3 days had an approval, using exactly the same details that the customers had given to their bank a few weeks before. This highlights the importance of using experts like brokers or even just getting a second opinion to make sure you are getting the right outcome.

Super excited to help this great family into their own house in Christchurch this week!

Thinking of buying your first home? According to leading economist Tony Alexander, "Right now, potentially even this month, is as good as it is going to get for a very long time".

Have a read of the article below if you are thinking about buying and send me a message if you are interested to see what you can afford.

Tony Alexander: The riskiest move a first home buyer can make right now Why holding off until prices have bottomed out is the wrong choice.

Stoked to help these two into their first home today! 3 months ago they thought it wasn't possible and now they are home owners! What a difference a few months can make.

Let me know if you are in a similar position and want to see how much you can afford!

Do you have less than a 20% deposit? Some bad credit? On a resident Visa? Small unsecured debt? Are you worried that this means you can't buy a house?

Luckily, there are ways and different lenders who can help you with all of these scenarios! All lenders have different policies, so because one lender may have declined you, does not mean they all will.

Send me a message if you have a scenario you want to chat about to see if you can afford a house!

Don't have a 20% deposit but want to buy a house? You may not be aware, but there are still options available to help you purchase your first or next home!

These include potentially being eligible for a Kainga Ora First Home 5% deposit loan OR your current bank may allow a 10% deposit for a purchase.

Flick me a message if you want to have a chat about your options to see if you qualify!

Mitchell Williams - Vega Mortgages updated their info in the about section.

ANZ is now offering 1% loans, fixed for 3 years, up to $80,000, to make their clients homes and lives more energy efficient.

This loan can be used to buy energy efficient upgrades such as heat pumps, double-glazing or solar panels. It also can be used to buy a hybrid or electric vehicle.

This is available to existing ANZ customers or anyone willing to move their home loan to ANZ.

Let me know if you want help to access this amazing deal.

ANZ, ASB, BNZ and Westpac all put up their fixed mortgages interest rates by up to 0.50% last week. If you have any loans coming off their fixed rate this year, it may be in your best interest to review it earlier than the expiry date, before they change again.

Reach out if you want some advice on your options, whether that is to refix or refinance.