A bit of good news this week after all the upheaval of the rental investment loans being cut to 60% LVR. By the way I can still get over 60% LVR loans from the non bank lenders.
First Home Buyers have had a boost from the Government. The value they can purchase to in Christchurch has been raised to $500,000 from $450,000. The income caps have been lifted. A single person can now earn $85,000 to qualify and a couple $130,000 per annum. The best news is that if you are eligible for the Grant it has been raised to $10,000 per person for an existing property and $20,000 per person for a new build. Customers have to have been in Kiwisaver for 5 years to qualify for these amounts. To be fair pretty much everyone I am seeing has now been in the scheme for this time now. These changes are effective from 1st August 2016.
For further information please contact Sue Clydesdale at Mortgage Express on 0272 117 209 or freephone 0800 226 226.