Why It’s Important to get the Right Mortgage

Choosing between different mortgages is like choosing a life partner.

Your mortgage sticks around for a long time, and it’s important that you can live happily alongside it. It will make demands on your time, and you’ll have to make compromises no matter what type of mortgage you choose. But the difference between these compromises can be vast, and it’s important to know what to expect before signing up for something.

To take just one example, the variable-rate mortgages that lure you in with tantalisingly low-interest rates aren’t always the best option. Though they can be fantastic in some cases, it depends on how the property market is trending, and what your own financial outlook is like. Every homeowner you talk to will give you conflicting advice, but the reality is that the ideal mortgage is different for every person, and often changes month by month.

An experienced One50 advisor can help you make this incredibly important decision with confidence rather than stress. Rather than pushing you towards a certain option, we’ll equip you with all the knowledge you need to make your own informed choice. A mortgage is always a big commitment, but it doesn’t have to be something you regret for the rest of your life.

Pre-Approval Applications

A pre-approval helps you avoid nasty surprises when you’re hunting for a new home.

It’s usually an excellent idea to get a conditional pre-approval for your home loan. Pre-approvals are a type of written statement from your lender, confirming before you actually buy a property that you’ll be allowed to borrow a specific amount of money to pay for it.

This helps you know exactly how much money is at your command before you commit to anything. It also makes it clear to sellers and agents that you’re a serious contender for a house. It’s impossible to bid at an auction, for example, without a pre-approval.

Every pre-approval has certain conditions that need to meet in order to ensure its validity. If your circumstances change, or even if your bank’s circumstances change, you may find yourself denied access to the promised loan. Partly for this reason, it’s important to get help from a professional financial advisor who can help make sure your pre-approval is reliable.

If you need expert assistance with the pre-approval application process, or just want to be sure that you’ve fully grasped everything you need to know, we’re here to help.


Having a sizeable deposit is the best way to negotiate a favourable home loan.

Of course, saving for a deposit isn’t easy. These days, you’re often expected to pay as much as 20% of a property’s value up front – and this can be a very difficult task when house prices are rising so steeply across New Zealand.

There are two main things an expert One50 advisor can help you with. First, we can give you advice on how to meet your deposit goals. It’s one thing to put some savings aside each week, but it’s quite another to have a comprehensive financial plan that propels you towards your deposit target.

Second, our strong relationships with various local lending institutions put us in a great position to negotiate reasonable loan terms on your behalf. If you try to secure a loan on your own, you risk putting yourself at the mercy of an unfair or less-than-ideal mortgage agreement. Just one less stringent condition on your mortgage can save you from a world of stress in the long run. It also helps to have professional advice if you hope to secure a low-deposit mortgage.

If you want to make sure you get the best possible terms for your mortgage, we’d love to help.

KiwiSaver First Home Withdrawal

In New Zealand, the idea of owning a house is now an ambitious plan rather than an expectation. Skyrocketing house prices across the country are making it harder and harder to save for that initial deposit. Increasingly, the dream seems out of the average person’s reach.

Fortunately – depending on which KiwiSaver fund you’re signed up for – you may be eligible to withdraw everything except $1,000 and put towards your deposit. Understandably, this is extremely helpful for many Kiwis as they work towards buying their first home. Without any prior experience, however, it can be hard to find out exactly how to make it happen.

Conditions for withdrawal:

  1. The house must be in New Zealand
  2. You must intend to live in the house yourself
  3. It must be your first time withdrawing from KiwiSaver for this reason

If you’ve been contributing to a KiwiSaver scheme for at least three yours, you might be eligible for a KiwiSaver HomeStart Grant of up to $10,000. To find out more about this, or whether withdrawing funds to put towards your first home could be a good option for you, contact a One50 advisor today for a free consultation.

Insuring Your Home

The idea of losing your home or its cherished contents is very difficult to confront. But it’s important to think seriously about the possibility of the worst happening so that you can be fully prepared for it.

A good home insurance policy is the best way to safeguard against future disasters like fires and floods. Besides these major events, it can also help you with the costly repairs that are often necessary after relatively minor setbacks like subsidence, retaining wall damage, or even window breakage. Fortunately, these and similar issues can generally be covered by the same policy.

With home insurance payouts, you won’t have to stress about paying for temporary accommodation, and you’ll be able to start looking for a new house straight away. For most homeowners who lose their property, a good insurance policy is the main reason they’re able to rebuild their lives fairly quickly.

You need home insurance and contents insurance that reflect the true value of your assets. The best way to make sure you’re on the right plan is by talking to an experienced advisor about your options. The friendly One50 team would be happy to help.