Sovereign Home Loan Fixed Rates Reduced….
Sovereign have reduced their home loan interest rates across fixed rates for the 12 month, 24 month, 36 month, 48 month and 60 month terms.
Please see the old and new fixed interest rates below:
|
Term |
Old Rate |
New Rate |
|
12 months |
5.80% |
5.70% |
|
24 months |
6.00% |
5.85% |
|
36 months |
6.30% |
6.10% |
|
48 months |
6.70% |
6.50% |
|
60 months |
7.10% |
6.90% |
Call us now on 04 5288 088 for more detail on what makes the Sovereign Go Home Loan such a great product for you!
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
Sentinel Lifetime Loan Interest Rate Reduction Effective 8 November 2010
Effective from 8 November 2010 the Senitinel Lifetime Loan interest rate will reduce to 7.20% p.a. which continues to make the Sentinel Lifetime Loan a great choice for any retired New Zealander’s struggling with their cash flow.
Contact Thorners if you need finer details on the loan and how it may work for yourself or your parents.
Experience the Thorners “no fuss” planned approach to financial freedom and protection
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
KiwiSaver – the key to your first home
As we approach the third anniversary of KiwiSaver, many New Zealanders will be thinking about the tax free government housing subsidy available from 1 July 2010 – just one of the many benefits of KiwiSaver. In addition, members will be able to apply to withdraw their contributions to buy a first home or purchase land to build a first home. So, how does it work?
First home deposit subsidy
After 3 years of contributing at least 2% of their income to KiwiSaver, members will be able to apply for a one-off grant* of $1,000 for each year they’ve contributed to KiwiSaver. The subsidy increases by $1,000 per year up to $5,000. So, if they successfully apply for the subsidy after 5 years of contributing to KiwiSaver, they will receive $5,000. Eligible couples can also combine their subsidies up to $10,000.
First home withdrawal
After 3 years of being invested in KiwiSaver, members will be able to withdraw their own contributions and their employer’s contributions for a home deposit (excluding the $1,000 kick start and Member Tax Credits). It must be their first home not an investment property. There is no minimum contribution amount to be eligible for the first home withdrawal. And for those second home buyers, they may still be eligible to withdraw their contributions if they’re in the same financial position as a first home buyer.
If members are eligible for this fantastic offer, they’ll stay a member of KiwiSaver and continue to grow their savings while taking advantage of the scheme’s other great benefits.
For more information visit www.hnzc.co.nz or www.kiwisaver.govt.nz
* Income, house caps and other eligibility criteria apply.
Contact Thorners if you need any advice on KiwiSaver.
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
Mortgage Interest Rates Have Moved Again
Circumstances change quickly in the current financial environment and you may be unaware that the recent mortgage interest rate changes announced on 9 September have widened the gap between short and long term fixed interest rates. This reflects the changing cost of offshore funds which banks rely on to supplement the funds their local depositors place with them. There has been an easing in the cost of shorter term offshore funding but there is also significant competition in the New Zealand deposit market, which continues to push the rates higher than they would otherwise be.
The result is regular reviews of your mortgage have become more important than ever. Not just to ensure ongoing affordability, but more importantly, to ensure that the structure is appropriate to your current and future needs and goals.
While having some of your mortgage on a floating rate offers flexibility, it is a facility more suited to those who are in a position to place bulk sums into it to reduce their overall lending to obtain the resulting interest savings, even if only for short periods of time.
Unless you are in a position to clear the majority of your floating rate loan in the short term, it may be more appropriate to change some to a fixed interest rate to provide some certainty going into the future. I do not have a crystal ball but the NZ Treasury predict that short term rates will remain low for the next year and Bank’s have been speculating floating rates will rise back to the 8% level over the next two years.
Now is also good time to check that you are financially protected and prepared for life’s events – planned or unexpected and ultimately I want to help to keep your home in your hands. The last thing you want to see is your home slipping out of your hands, should you be unable to meet your loan repayments. If you died, would you leave behind enough resources to pay off your home loan and safeguard your dependants’ future?
I am available to discuss your investment, insurance, mortgage and KiwiSaver needs in what is a difficult time for many of us at the moment so please feel free to contact me anytime if you have any questions. My personal email is denis@thorner.co.nz or ph 04 528 8088.
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
Sentinel Lifetime Loan Interest Rate Change from 1 July 2009
Sentinel have advised that the floating rate for their Lifetime Loans will drop to 6.85% p.a. effective from 1 July 2009.
This is a dramatic drop reflecting current market changes and takes affordability of the lifetime loan to a new level and the lowest it has ever been.
If you are retired, own a home and are suffering financial distress or just need some additional cashflow, there has never been a better time to consider a Sentinel Lifetime Loan.
Thorners offer a NZ wide service so call or email us for more information on Sentinel Lifetime Loans today. All discussions are confidential.
New Zealand wide service – let us know your situation today to allow us the opportunity to provide you with some options
Click here to email Thorners or Call Us on (04) 528 8088
Click here to view our disclosure statement
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
