Mortgage lender/brokers - who's best?

[Scuba_Steve]

Looking to buy our 1st home, so was wondering if anyone our there has experience or opinions about mortgage broker or which lenders are best?

Any helps good help :)

[hayd3n]

new zealand home loans and its coz the missus said so lol

[Brett]

Bruce Patten from Loan Market is the guy I have used a few times now and have referred on to quite a few friend all of whom are extremely happy with ihs service and knowledge. He is fantastic and I would not consider using anybody else whether it is for my own home, rentals or development properties. he is based up here in Aucks though...but may be able to sort you out anyway.

[Swoop]

Looking to buy our 1st home
Have you approached the bank?

[Mully]

We use Vanessa Belton - vanessa@greenlightnz.co.nz

Much quicker replies than from the Bank, plus uses them all, so knows who best to apply to for your situation.

[Scuba_Steve]

Have you approached the bank?

Yea we are looking at KiwiBank talked to them, but thought I'd seek others advice before committing to any lender/broker see what experience others have had or who they would/wouldn't recommend.

[NinjaNanna]

Don't forget to personally check out BNZ, because they don't offer their products through Mortgage Brokers, get their mobile lending manager to come to you but make sure they know that you're also using a broker as you are considering other products as well.

[nathan.read]

While a mortgage broker wont charge you anything you end up paying the full loan fee at the bank (the bank pays the broker) if you approach the bank directly you can usually negiotate a lower loan fee, I always have

[Oscar]

Go straight to the Bank.
Most Mortgagee Brokers add little of value to the mix.
In a market like this, a good lending proposition is sought after.

Compare and Bargain.
Try and reduce the fee payable, and ask about support and/or deals for valuations and legal (years ago banks would actually skin up cash for lawyers fees, I'm not sure what the market's like now).

[Gone Burger]

For my first home - I had a very good experience with Mike Pero. They found the best bank for me to be with and ended up changing banks for a better deal. They had plenty of good advice for me, and were a huge help along the way.

For my second home though, I went directly through my bank, as it just seemed much easier second time round. Always good to shop around though, see what they can all offer you.

Best of luck - exciting times!

[Gone Burger]

P.S. I know of a really LOVELY home in Wellington that a certain kiwi biker has on the market - GREAT garage for bikes. lol

[Scuba_Steve]

P.S. I know of a really LOVELY home in Wellington that a certain kiwi biker has on the market - GREAT garage for bikes. lol

:laugh: needs to be at-least 1000m2 after all I have a Van, Land-Rover, car & multiple bikes to cater for. Then there's the pool table & When I can afford one there'll be a Truck to house too. But nice pitch :)

... Oh and if anyone was wondering, YES house (or previously Flat) hunting is a "fun" task when you have my collection to house

[Nasty]

I use Roost out here is Whitby - Warren .... he adds value and does running around that I then didn't need to do. If you want numbers drop me a PM.

[Scuba_Steve]

I use Roost out here is Whitby - Warren .... he adds value and does running around that I then didn't need to do. If you want numbers drop me a PM.

I've been looking at Roost & Warren actually, was kinda wondering wether to check him out

[Nasty]

I've been looking at Roost & Warren actually, was kinda wondering wether to check him out

Definitely ... Give him a call even tell him you know me :). That is Kari he doesn't know me as Nasty :)

[Big Col]

I have tried mortgage brokers twice and been let down badly both times. There is not a lot they can do that you cant sort out for yourself. No way I would waste one minute of my time with them.

[Swoop]

According to The Harold's article yesterday, banks are now asking for a decent deposit on the house and are checking out borrowers more thoroughly than before the economic downturn... Shame they weren't doing that before.

[Rogue Rider]

Seeing as your so awesome, I'll let you have my mortgage for a year or three to see if you like it.............
I need a holiday lol:Punk:

[neels]

If you've got a reasonable deposit of at least 10%, or even better 20% then go straight to your favourite bank and talk to them, then you can negotiate directly with them about dropping the application fee, contributions towards legal costs etc.

If your deposit is a bit thin, or you're self employed then a mortgage broker has access to lenders that deal with stuff outside the 'normal' bank limitations.

[doc]

Go straight to the Bank.
Most Mortgagee Brokers add little of value to the mix.
In a market like this, a good lending proposition is sought after.

Compare and Bargain.
Try and reduce the fee payable, and ask about support and/or deals for valuations and legal (years ago banks would actually skin up cash for lawyers fees, I'm not sure what the market's like now).

If you have enough deposit. They usually don't charge for valuations or fee's. Sort of the wrong way around . The less you have the more they clip on the way.

[Winston001]

If you've got a reasonable deposit of at least 10%, or even better 20% then go straight to your favourite bank and talk to them, then you can negotiate directly with them about dropping the application fee, contributions towards legal costs etc.

If your deposit is a bit thin, or you're self employed then a mortgage broker has access to lenders that deal with stuff outside the 'normal' bank limitations.

Good advice.

Lets go back to basics: ten years ago mortgage brokers barely existed. Like so-called financial advisers they are an industry which has invented itself. Imagine employing a person to do your grocery shopping - would you? You'd never see the commissions paid by the preferred supermarket, all you'd get told was what a great deal they'd achieved.

So the first rule is go to your own bank and ask them directly. By all means tell them you are also looking at a mortgage broker, because that is an incentive for your bank to produce a great loan. Banks have to pay brokers - they are much happier dealing with you direct. BNZ won't use brokers at all and they do plenty of mortgages.

Ok but lets say you don't like your bank. Or don't feel confident asking them. Its a scary business buying a house for the first time. In that situation a mortgage broker may be exactly what you need.

I suggest its the individual broker who is most important to you. Mike Pero etc are franchises not Mike himself who is long gone. Just as with a lawyer, you want someone you feel comfortable with and whom you can trust. Try the suggested people here but seriously - kick the tyres of your bank first. :yes:

[Oscar]

If you have enough deposit. They usually don't charge for valuations or fee's. Sort of the wrong way around . The less you have the more they clip on the way.

No, I meant that they would pay some of your fees.

[Oscar]

I see TSB is offering to pay $600 toward legal fees.