Cover art for podcast NZ Guide To Financial Freedom

NZ Guide To Financial Freedom

301 EpisodesProduced by Ryan J Melton & Greg MoyleWebsite

Everything you need to know about business, money, and life. https://ryanjmelton.co.nz/

4:43

Ep 168: First Home - Lender Questions

It sounds silly but sometimes just asking the right questions can make the world of difference to your mortgage. Here’s a few to get you started: “What fees do you charge? For all loans, ask about application fees and other charges such as a low equity fee. For fixed-interest loans, ask what fees apply if you increase repayments, make lump sum repayments, or repay the whole loan early. What will be the total cost of this loan, including fees and interest, for the sum I am borrowing and the term I have chosen? The lender will have to make an assumption about interest rates to do this calculation. But it will show how much you’ll pay back in total. (Note that the lender is required to disclose the fees and interest separately.) Also, ask for the total regular payment in a year if the interest rate were to be 1% higher than now. That will give you some idea of the risk if rates rise. What changes can I make after the mortgage is set up? For all loans, ask whether it's possible to increase regular payments from time to time, pay in lump sums, and pay off the mortgage in full before the end of its term. Ask if there is a required period of notice before reducing or paying off the loan with a one-off payment. Fixed-interest loans normally convert to a floating rate at the end of the term - ask about taking another fixed term instead at no charge. If I buy a new house, can I transfer the existing mortgage? If the answer is yes, it's likely to save money in fees. If I have a problem that I can’t sort out with you, where can I go for help? Approach the lender with a complaint or problem in the first instance. If that doesn't result in a satisfactory resolution there are independent bodies available which can investigate and help settle disputes such as the Banking Ombudsman and the Financial Services Federation, which represents some non-bank lenders.”

Source: https://sorted.org.nz/guides/home-buying/questions-to-ask-a-lender/

Book a Free appointment with Ryan 

If you're wanting your question answered on the podcast email me at ryan@oneplan.co.nz, send a voice message below or capitalise on our free online tools and advice: 

Get A Free Book and Subscription To Ryan's Weekly Newsletter

Find Ryan On Social Media

 Have Your Podcast and Audiobook Edited by NZ Audio Editors.

Disclosure statement available on request and free of charge

Educational emoji reaction

Educational

Interesting emoji reaction

Interesting

Funny emoji reaction

Funny

Agree emoji reaction

Agree

Love emoji reaction

Love

Wow emoji reaction

Wow

Are you the creator of this podcast?

Verify your account

and pick the featured episodes for your show.

Listen to NZ Guide To Financial Freedom

RadioPublic

A free podcast app for iPhone and Android

  • User-created playlists and collections
  • Download episodes while on WiFi to listen without using mobile data
  • Stream podcast episodes without waiting for a download
  • Queue episodes to create a personal continuous playlist
RadioPublic on iOS and Android
Or by RSS
RSS feed
https://anchor.fm/s/849ed48/podcast/rss

Connect with listeners

Podcasters use the RadioPublic listener relationship platform to build lasting connections with fans

Yes, let's begin connecting
Browser window

Find new listeners

  • A dedicated website for your podcast
  • Web embed players designed to convert visitors to listeners in the RadioPublic apps for iPhone and Android
Clicking mouse cursor

Understand your audience

  • Capture listener activity with affinity scores
  • Measure your promotional campaigns and integrate with Google and Facebook analytics
Graph of increasing value

Engage your fanbase

  • Deliver timely Calls To Action, including email acquistion for your mailing list
  • Share exactly the right moment in an episode via text, email, and social media
Icon of cellphone with money

Make money

  • Tip and transfer funds directly to podcastsers
  • Earn money for qualified plays in the RadioPublic apps with Paid Listens