Our Blog

OCR Update 08/02/2018

Today’s announcement from the Reserve Bank of New Zealand leaves the OCR unchanged at 1.75%. RBNZ have also pushed out the forecast for no changes until March 2020.

This means rates could stay low for longer than expected. Give the team at Tony Mounce Mortgages & Insurance a call to see how we can help, on 0800 MOUNCE.

 

You can read today’s full announcement from RBNZ here… 

 

 

 

Otago Property Investors’ Association

Sponsorship

It’s a pleasure to be involved with the Otago Property Investors’ Association this year as principal sponsor. Make sure to keep an eye on our website and social media pages for future event information!

Watch our video to learn more…

 

 

 

The Interest-Only Mortgage Catch

To quote Susan Edmunds, “Interest-only mortgage lending has come in for scrutiny over the past year, amid regulatory concern on both sides of the Tasman that the lending practice could create financial instability.” This is why banks are reluctant to ‘roll-over’ interest-only periods. You can read the full article here…

At Tony Mounce Mortgages and Insurance, we are seeing that banks want P&I (Principal & Interest) repayments and are not readily rolling interest-only periods over once they have ended. This is where like-for-like refinancing comes in as it is based on the dollar part of the lending, not the structure of the loan. Therefore, new five year interest-only periods can commence.

Give TMMI a call today. We would love to chat about how we can review your position and help you achieve your property goals.