Ryan Amoore - LoanMarket Mortgage Advisor

Ryan Amoore - LoanMarket Mortgage Advisor

If you are after sound mortgage advice and a personalized service I would love to help you through the process. I always endeavor to offer an exceptional service as this is often the way we differentiate ourselves from the rest.

If you are after personalized financial advice and you would like to enjoy the process from the comfort of your own home or at your place of work then I will be stoked to hear from you.

Operating as usual

REINZ, Tony Alexander share new real estate agent insight on housing market 01/12/2021

REINZ, Tony Alexander share new real estate agent insight on housing market

Independent economist Tony Alexanders survey of Real Estate Agents shows an interesting new insight.

Apparently less demand and less upward pressure on house prices.

REINZ, Tony Alexander share new real estate agent insight on housing market Joint survey also showed changes in buyer behaviour

Stats NZ: Home consents in New Zealand hit record levels 01/12/2021

Stats NZ: Home consents in New Zealand hit record levels

Record level of consents in NZ.

This is great for first home buyers now that the banks are not playing game for over 80% lending on existing properties.

Stats NZ: Home consents in New Zealand hit record levels Region that dominated others had 19,936 new consents

[11/30/21]   Warning - From that changes from some banks I am already getting distressed calls from people that have sold their homes unconditionally without being pre approved in the first place.

Their issues are that they want to upgrade to a larger property however the banks are now telling them that they cannot afford to purchase the house that they just sold.

Please either speak to myself or your bank before you even go on the market to make sure you can achieve what you want.

Ryan

[11/25/21]   Mortgage rates.

This is where they're currently sitting, there is a little variation between banks however they're pretty similar across the board.

1 year fixed - 3.65%
2 years fixed - 4.35%
3 years fixed - 4.69%
4 years fixed - 4.79%
5 years fixed - 4.95%

Whats your thoughts on how high the rates are going to be?

[11/23/21]   BNZ now only lending a maximum of 6 x total household income (can include rent and boarder income)
This is a big shift and they will have a noticeable reduction in applications due to this.

ASB now only lending 6 x household income if your application is over 85% lending or if the purchase is for an investment property.

It seems the tide has gone out and come back in with a whole bunch of new regulations

These new changes are Debt to income ratios that the Reserve Bank of New Zealand has been discussing for the last year.

My expectation is that the remaining banks that have not changed will all head towards the same model.

What does this mean to you? Less borrowing and more deposit.

[11/22/21]   ANZ have just pulled out of lending over 80% if the property is not a new build.

They're all tightening up their belts.

Give me a call if you need help navigating through these interesting banking times

[11/18/21]   Mortgages are getting tougher and tougher to get approved.

There have been major changes in the financial markets which have come about from the change in the Credit Contracts & Consumer Finance Act.

The banks are now requiring a lot more information about customer expenses, Eating out, clothing expenses, other entertainment and so on.

We are now calculating food expenses from the total monthly expenditure across three months that is coming out of your bank account statements and averaging the figures.

Two banks now have rules around lending to a maximum of 6 times total household income which is limiting many applications.

90% applications are only typically only available with your existing bank. Even if the purchase is for a new home and exempt from the reserve banks Loan to value ratio rules.

My recommendation is that if you are looking to purchase a home in the coming months/6 months or even a year you should really drill down on your expenses and try to reduce them as much as possible.

This basic task is not only going to save you money however could mean there is a significant difference to what the bank will allow you to borrow.

If you have any questions please don't hesitate to contact me.

Ryan
021662205

Growth in house prices to fall significantly next year 27/09/2021

Growth in house prices to fall significantly next year

There's not a lot of commentary around house prices halting or dropping however have a read of this article to see their thoughts.

Interest rates are looking certain to increase which would increase mortgage repayments to a point where people may not feel as comfortable.

Ryan

Growth in house prices to fall significantly next year House price inflation is expected to fall back to single-digit levels next year.

27/09/2021

Kiwisaver funds in NZ have just been reported to have topped $81,000,000,000. Thats 81 Billion NZD

Guaranteed that there are countless first home buyers that want to buy their first home that have a Kiwisaver fund ready to rock n roll.

If you have $70,000 combined Kiwisaver in your household then you could potentially purchase a property.

Kiwisaver funds in NZ have just been reported to have topped $81,000,000,000. Thats 81 Billion NZD

Guaranteed that there are countless first home buyers that want to buy their first home that have a Kiwisaver fund ready to rock n roll.

If you have $70,000 combined Kiwisaver in your household then you could potentially purchase a property.

26/09/2021

As of 1st November, the Reserve Bank will only allow banks to lend a maximum of 10% of their lending to be over 80% borrowing.

It was previously allowed at 20% of their lending being over 80% of the purchase price of a property.

Due to the strict rules and potential fines related to lending over these caps it is likely that the banks will only lend up to 7% of their total lending over 80%.

What does this mean? Less opportunity for first home buyers to get into the market.

We live in a funny little place here in NZ where the national average house price is $920,000 which would require a 20% deposit of $184,000. How are young people supposed to save this amount of money?

In Auckland the average house price is $1,175,000 which would require $235,000 deposit.

How do first home buyers get into the market with 10% deposit? buy a brand new home (New houses are exempt from the LVR rules as the government is trying to facilitate the construction of more housing)

As of 1st November, the Reserve Bank will only allow banks to lend a maximum of 10% of their lending to be over 80% borrowing.

It was previously allowed at 20% of their lending being over 80% of the purchase price of a property.

Due to the strict rules and potential fines related to lending over these caps it is likely that the banks will only lend up to 7% of their total lending over 80%.

What does this mean? Less opportunity for first home buyers to get into the market.

We live in a funny little place here in NZ where the national average house price is $920,000 which would require a 20% deposit of $184,000. How are young people supposed to save this amount of money?

In Auckland the average house price is $1,175,000 which would require $235,000 deposit.

How do first home buyers get into the market with 10% deposit? buy a brand new home (New houses are exempt from the LVR rules as the government is trying to facilitate the construction of more housing)

[09/22/21]   Tony Alexanders thoughts on why property rises have increased so significantly since May 2020

1. Record low interest rates
2. Removal of LVR rules for close to 1 year
3. Reuse of travel savings - Cant travel so spend more on a house
4. Higher construction costs
5. Housing FOMO
6. Returning expats
7. Lockdown savings - Apparently studies show that savings increased nationally through lockdowns which has contributed to more first home buyers purchasing.

Who would ever have thought we would have had a housing boom in very uncertain times.

09/08/2021

Here's an extract from Economist Tony Alexander.

This is solely his predictions of the interest rate environment in the short and long term.

It seems that the low interest rate environment is coming to an end and we should prepare for higher rates now.

Please note that this is not personalised financial advice. If you would like advice about your position please dont hesitate to contact me.

Ryan

Here's an extract from Economist Tony Alexander.

This is solely his predictions of the interest rate environment in the short and long term.

It seems that the low interest rate environment is coming to an end and we should prepare for higher rates now.

Please note that this is not personalised financial advice. If you would like advice about your position please dont hesitate to contact me.

Ryan

[08/04/21]   Hey Guys,

As you may be aware there is a lot of chat in the financial sector that the Official cash rate is likely to increase.

What we do know is that generally the moment he OCR increases mortgage interest rates also increase and its usually immediate.

There is a review on the 18th of August.

If you have a refix coming up shortly then it would be a good time now to give me a call and have a look at your options.

Me refixing your mortgage does not cost you a cent however if we get you the right structure and interest rates it could save you a considerable amount in the future.

Talk Soon
Ryan 021662205

Is New Zealand's property market finally cooling down? 28/07/2021

Is New Zealand's property market finally cooling down?

Is the property market starting to cool its jets?

Is New Zealand's property market finally cooling down? One main urban centre shows slight decline

78 Clovelly Road, Bucklands Beach, Manukau City - Residential House for Auction 15/06/2021

78 Clovelly Road, Bucklands Beach, Manukau City - Residential House for Auction

If you love a view and great house check out this property Michael Ellse is selling.

Best you have a few dollars hanging around for this one.

Get in touch with Michael if this is the property for you!

78 Clovelly Road, Bucklands Beach, Manukau City - Residential House for Auction The views here are nothing short of captivating, as soon as you enter the living area your eye will be drawn to the magnificent picture through the Bi-fold doors with an active sea view and beyond to the Islands in the gulf. Enjoy entertaining on the generous... Listed Ray White Pakuranga

17/05/2021

Hey everyone. In appreciation of all the local support my family and business has had from the East Auckland Grapevine we are wanting to give back to our community. I have over 60 brand new books to go to one East Auckland school. Head over to the east Auckland grapevine and comment the school you would like the books to go to.

Hey everyone. In appreciation of all the local support my family and business has had from the East Auckland Grapevine we are wanting to give back to our community. I have over 60 brand new books to go to one East Auckland school. Head over to the east Auckland grapevine and comment the school you would like the books to go to.

17/05/2021

Hey Everyone,

In appreciation of all the local support my family and our business has had from the East Auckland Grapevine we are wanting to give back to our community.

I have 60 books/over $500 worth to go to one East Auckland School.

If you would like your childs school to get the books then head over to the East Auckland Grapevine and comment the school your child attends.

Get all your mates to do it also if you will.

Otherwise have a great day.

Hey Everyone,

In appreciation of all the local support my family and our business has had from the East Auckland Grapevine we are wanting to give back to our community.

I have 60 books/over $500 worth to go to one East Auckland School.

If you would like your childs school to get the books then head over to the East Auckland Grapevine and comment the school your child attends.

Get all your mates to do it also if you will.

Otherwise have a great day.

17/05/2021

ASB have just come out with a package for any clients building new first homes where they will offer an interest rate of 1.79%.

This is for any clients building their first home or buying a home and land package requiring schedular payments.

This is a variable rate and subject to change so something we need to keep an eye on however it means that you can start paying your mortgage off faster due to the much lower cost. Any additional payments you make on your mortgage also come without any penalties.

The 1.79% can be enjoyed for a maximum period of 3 years from the initial mortgage draw down.

If you are looking to purchase a new build property as your first home ASB have made this that much better.

Get in touch if you would like me to run the numbers for you.

Ryan

ASB have just come out with a package for any clients building new first homes where they will offer an interest rate of 1.79%.

This is for any clients building their first home or buying a home and land package requiring schedular payments.

This is a variable rate and subject to change so something we need to keep an eye on however it means that you can start paying your mortgage off faster due to the much lower cost. Any additional payments you make on your mortgage also come without any penalties.

The 1.79% can be enjoyed for a maximum period of 3 years from the initial mortgage draw down.

If you are looking to purchase a new build property as your first home ASB have made this that much better.

Get in touch if you would like me to run the numbers for you.

Ryan

17/05/2021

ASB have just made some huge changes to how they assess mortgage application for anyone with a 10% deposit.

What would have been a marginal application in the past is more than likely a good application.

They went from a servicing pass of $900 to $300 meaning we can work with a significant more number of first home buyers

ASB have just made some huge changes to how they assess mortgage application for anyone with a 10% deposit.

What would have been a marginal application in the past is more than likely a good application.

They went from a servicing pass of $900 to $300 meaning we can work with a significant more number of first home buyers

House for Sale - 10 Maroubra Place, Botany Downs, Manukau City 2014 28/04/2021

House for Sale - 10 Maroubra Place, Botany Downs, Manukau City 2014

Great new listing for a first home buyer in East Auckland.

Have a chat to Dave if you're keen

Team McCartney Real Estate

House for Sale - 10 Maroubra Place, Botany Downs, Manukau City 2014 'Parkside Peace and Potential' - Listed by Ray White Half Moon Bay

RBNZ policymaker on low interest rates 28/04/2021

RBNZ policymaker on low interest rates

Have a read of the article below.

I think the most relevant extracts are as below.

"The government has instructed the central bank to take housing into account when it sets policy, but Governor Adrian Orr has insisted the RBNZ’s inflation and employment objectives remain unchanged"

Ryan - Does this mean that they are loathed to increase the OCR?

"Higher rates could worsen inequality by denting confidence, driving up unemployment and raising mortgage servicing costs, Harris said"

Ryan - Does this also mean that they are loathed to increase the OCR so that peoples financial confidence stays strong?

"Harris, speaking in the first interview to be given by an external MPC member, reiterated that the committee is in no rush to remove stimulus."

Ryan - Does this mean that there is going to be no change to the OCR for a while to keep rates as they are?

While the economy has performed better than anyone expected, Harris said unemployment at 4.9% remains “relatively high” and the RBNZ is not yet meeting its employment objective.

Ryan - Does this mean that lower mortgage costs for business owners/employers allows business owners to take less from their business and leave more cash in the business to grow/expand/employ more people?

RBNZ policymaker on low interest rates He hits back at claims they are a cause of house prices skyrocketing

13/04/2021

Have a squiz at one of my mates houses, or just put your hand up at the auction and buy it!!!

05/04/2021

Rivers got mummas car key. #naughtyschnauzer

02/04/2021

When your pup needs training. Get the best in the business. Same goes for ya mortgage. @maddogtrainingservices

When your pup needs training. Get the best in the business. Same goes for ya mortgage. @maddogtrainingservices

Revealed - How much house prices have increased in New Zealand 30/03/2021

Revealed - How much house prices have increased in New Zealand

If you have owned a property in the last 12 months the chances are that you made plenty of money while you were asleep

Revealed - How much house prices have increased in New Zealand February marked the sixth month in a row average asking prices hit an all-time high

28/03/2021

My handsome little man.

My handsome little man.

26/03/2021

Can’t beat Frozen 2 in the middle of a park in the middle of an Antarctic breeze

Can’t beat Frozen 2 in the middle of a park in the middle of an Antarctic breeze

22/03/2021

New office looking spot on #loanmarketnz

Prime Minister Jacinda Ardern's housing package to 'tilt the balance' to first-home buyers - NZ Herald 22/03/2021

Prime Minister Jacinda Ardern's housing package to 'tilt the balance' to first-home buyers - NZ Herald

Big announcement tomorrow which is tipped to help first home buyers enter the market. Not sure how they are going to pull this off however we will be sure to know at some stage tomorrow.

Prime Minister Jacinda Ardern's housing package to 'tilt the balance' to first-home buyers - NZ Herald She will announce the plan tomorrow and says it will help 'curb rampant speculation'.

Have mortgage rates reached their lowest point? 08/03/2021

Have mortgage rates reached their lowest point?

More and more commentary lately that interest rates are projected to increase in the future. Whats your thoughts?

Have mortgage rates reached their lowest point? Economist says rates may rise sooner than anticipated

Government compels RBNZ to “consider housing” when setting rates 25/02/2021

Government compels RBNZ to “consider housing” when setting rates

The government is now applying pressure on the Reserve Bank to make sure they are now considering how each decision effects property sustainability.

The reserve bank works to the beat of their own drum however they now need to report on how they are going to control the housing market each time they make a decision about monetary policy.

Lets see how this goes

Government compels RBNZ to “consider housing” when setting rates Central bank must now take into account government policy relating to more sustainable house prices

Our Story

I always offer exceptional service and this is what helps me grow my business year in year out. If there is a deal to be done ill find it and you will reap the rewards. Once you know the bank’s policies you know how to navigate the direction the application goes and 2 days later we have an approval.

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