NZPI Magazine Column – August

 

 

 

August Issue

 

Introducing Tony Mounce from Tony Mounce Mortgages & Insurance.

 

It’s hard to imagine anyone with broader experience in the finance industry than Tony Mounce. After 42 years in personal and business banking and then onto mortgage advising, Tony is very familiar with the New Zealand banking system and calls himself a ‘finance all-rounder’. Multi-award winning, including Southern Region Mortgage Adviser of the Year for eight consecutive years and Southern Region Financial Services Business of the Year for seven, Tony Mounce Mortgages & Insurance provides financial advice for people of all stages of life. First-home buyers, families, the self-employed, and property investors.

Q: Why did you establish Tony Mounce Mortgages & Insurance?

A: After the Bank of New Zealand mobile channel was disestablished in 2009, I set up Tony Mounce Mortgages & Insurance to continue what I had been doing for the previous 15 years, i.e. helping people into their homes. The difference is now I am able to do this with all the major banks and lenders. We spend time selecting the correct provider for the particular person in front of us. Everyone has different needs.

Tony Mounce Mortgages & Insurance now has two advisers based in Auckland, one in Dunedin and one now based in Tauranga. We also have six advisers covering the Canterbury region, together with our Insurance Adviser and our Business Development Manager.

Q: Why should I go to a mortgage/insurance adviser rather than direct to a bank or insurance company?

A: Advisers know the majority of providers’ products and policies, and so can pick the correct solution for the clients’ needs. We have the ability to create competition with the selected providers, with the outcome typically being the best possible rate or cover for you. We give you unbiased advice as we have relationships with all main mortgage and insurance providers in New Zealand. Also, we’re generally a free service as we are paid by the lender or insurance provider. In a few instances, where this is not the case, we will always inform you of any fees in advance.

Q: What is the upcoming NZPIF conference?

A: Following our sponsorship with the Canterbury Property Investors’ Association and the Otago Property Investors’ Association, it was a natural progression to become principal sponsor for the 2018 New Zealand Property Inverstors’ Federation conference, which is being held this year in Dunedin. The conference is a great opportunity to speak to other investors and create a network of knowledgeable contacts to assist you in achieving your property investment goals.

Q: How should I structure a mortgage in this current market?

A: My preferred strategy is annual fixed rate rollovers. Historically, the 1 year fixed rate has worked well as you can see in the table below. Even if interest rates increase by 0.5% each year over the next few years, the average interest rate is still lower than fixing for a 3 or 5 year period. Recently, rates have been the lowest we have seen for a while and is likely to stay that way for a period of time still.

 

Year Rate (average)
1 year fixed 5 year fixed
2013 5.27% 6.66%
2014 5.74% 6.99%
2015 5.20% 6.08%
2016 4.41% 5.19%
2017 4.56% 5.63%
2018 YTD 4.53% 5.72%

 

We’re very happy to talk with you to really establish your needs and priorities so that we can give you the best possible advice. Give the team a call on 0800 MOUNCE.

 

 

 

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