Financial Advice
Why do I need a mortgage broker? Can’t I just deal directly with the bank?
Simply put, using a financial adviser makes your life better and easier. Not all banks offer the same deals. A financial adviser knows every banks’ individual policies and will know which one is the best financial fit for you. Plus we do all the work and liaise with the banks, so you can forget about being on hold and know that you have an expert advocating for your mortgage approval to make your financial and property goals a reality.
Will Mortgage Money charge me for services provided?
For 99% of our clients, it costs them nothing to use us as their financial advisers. All the main banks and insurance providers pay us a commission based on the size of your mortgage, insurance policy of KiwiSaver funds under maangement.
Our fees and commissions are disclosed in more detail here and discussed with clients as part of our process. Our aim is to be fully transparent, we will not charge any fee for services unless this is agreed with clients upfront.
Insurance
Why do I need insurance?
Insurance is one of those intangible things that you don’t see the worthiness of, until you have to use it. Insurance protects you in an unforeseen event, such as loss of income, loss or damage of contents, loss or damage to a house, or loss of life. All insurance should be underwritten, which takes into account your family or medical history. This makes sure your claim is paid out correctly, and you’re all covered!
Do I need insurance? Won’t ACC help me?
Depending on what has happened to you, ACC may not be able to help. ACC is workplace accident cover, not illness cover! That’s why having health insurance, trauma or total permanent disability cover is important, because it means your most important asset is kept safe: you!
Why do I need an insurance adviser when I can just go directly to an insurance company?
We believe in free-will here, but we also believe in making sure our clients (you) get the best possible deal. Your statement of financial position from your mortgage application will provide good background to inform our recommendations. Insurance advisers go in to bat for you to get you the best deal within your budget, and you don’t have to call an 0800 number, sitting on long wait times. Insurance brokers/advisers are experts in their fields, so you will receive personalised advice and a full understanding on how things get done.
What is income protection?
Income protection insurance and mortgage protection insurance are also known as disability insurance. They provide you with an income if you are unable to work due to getting sick or hurt.
How much cover do I need?
Identifying and agreeing the type and level of cover is a key element of our 6-step advice process. One of the key principles underlying insurance is aiming to put you back in the same financial position you were in before the loss occurred. As your financial position can change over time (e.g. increase in income or level of debt) it is important that your policy considers these changes is set up appropriately for now and any future needs.
Mortgages
Do I need 20% deposit to purchase a new home?
What are the best refinancing options for homeowners?
The best option depends on your financial goals. Our advisers can tailor a solution to suit your needs, including:
Lower interest rates – Reduce monthly repayments.
Fixed vs. variable rates – Choose stability or flexibility.
Cash-out refinancing – Borrow extra funds against your home’s equity.
Shorter loan term – Pay off your mortgage faster
Low interest sustainability loans - many banks offer very low 0% or 1% eco or sustainability based mortgage top up loans for things like double glazing, Solar PV, heat pumps and even a new hybrid or electric vehicle.
Why should I gain a pre-approval?
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Why do I need house insurance for settlement?
Your lender will require you to have house insurance in place for settlement. We recommend trying Initio for a quick online quote. You can also compare your options in more detail by using Waimea Insurance Brokers
How long does the approval process take?
This depends. Once the bank has all the information they need, their standard turnaround time is between 5-10 working days. However during busy periods some banks can take up to 3 weeks. Don’t waste anytime and get in touch today link to Contact Us page
What’s the difference between a mortgage broker and a financial adviser?
Nothing. They are the same. A ‘mortgage broker’ is another for a ‘financial adviser’. At Mortgage Money we’re happy to be called either.
Kiwisaver
How does KiwiSaver work?
A KiwiSaver fund is more than just a savings account. It's similar to what we call a managed fund. Your fund manager invests your KiwiSaver savings on your behalf, which means your savings also earn returns over time.
Your KiwiSaver grows with:
Your automatic contributions
Employer contributions of close to 3% on top of your pay
Government contributions (up to $521 every year!)
Investment returns from all the contributions being invested for you by your KiwiSaver provider
Any additional money you choose to put in. You can make voluntary contributions – lump sums or regular automatic payments – at any time, either directly to your KiwiSaver provider or through Inland Revenue.
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Ready to chat?
If you still have any questions, or are ready to start achieving your property goals, book a call with one of our expert financial advisers.
"Quick, easy and amazing"
Calum was quick, easy and amazing.
- Robert Hughes
Get in touch for tailored mortgage advice and support
We have four offices based in Nelson, Stoke, Richmond and Motueka. Give us a call at your closest branch, or contact us directly. We look forward to hearing from you.
Nelson
03 546 9270
60 Rutherford Street
Stoke
03 547 2980
506 Main Road
Richmond
03 544 2970
203 Queen Street
Contact
enquiries@mortgagemoney.co.nz
03 546 9270
Nelson Marlborough Mortgage Services Ltd.
Trading as Mortgage Money ©.
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