Reverse Mortgage NZ 1

How much does it cost to request a broker call-back from this webservice?

The site was setup to simply make it easier to get called back by a registered Mortgage Broker. For the convenience of arranging an available broker to follow you up instead, we don’t charge anything  for our service of connecting you.  The brokers we work with throughout New Zealand pay us a small fee for the simple service of connecting them with you.

Increasingly Kiwi’s are catching on to the benefits attained by involving a registered mortgage adviser in securing their home loan.

In most situations mortgage brokers in NZ are paid by the bank that you choose to complete your loan through. Meaning frequently people can access the services of a mortgage broker without any fees.  All mortgage advisers are now regulated in NZ and each is required to outline any fees they have for providing their services. Some of the common fee’s we see in the industry are: ‘clawback fees’ – where a new homeloan is repaid/cancelled within a 3year period, non-resident / foreign pre-approval fee and an ‘engagement fee’ where an home loan approval is attained but not then utilised.  Which ever mortgage broker you choose to engage, you can simply request a schedule of any fees and in what situation they are applicable.

But surely if I go to the bank directly I will be able to get a better deal?

This is a common misconception of people who have not yet engaged a mortgage broker. Banks need to employ more staff and train them up to handle mortgage enquiries, or they pay mortgage specialists like ourselves. In both cases they have costs to cover. That’s why going directly to the bank instead of via a mortgage broker does not mean that you can get a better deal.

In fact, 9 out 10 times a mortgage broker can attain better outcomes for you with the banks because of 'economies of scale'. This concept simply means there are cost-saving advantages to when you are doing a lot of something. In the case of a mortgage broker, they are dealing with clients to help arrange mortgages every week of the year.

Good examples of this concept can be found everywhere. For example, when you go to the hardware store to buy materials you pay the price on the price-tag at the checkout. Whereas your builder buys the exact same materials at a lower price via the 'Trade Counter'. Builders can get these lower prices because they buy significantly more materials than you do and so the hardware store rewards them with lower prices. This same common principle applies when it comes to getting a good home loan outcome. This is why it is always smarter to work with a good mortgage advisor rather than going to the lender directly.

Does my situation qualify to request a broker call-back?

The most common broker call-back requests we receive are from First Home Buyers and ‘non-resident’ home loan enquiries. Mortgage Brokers are widely known as problem solvers however for a broker to be able to assist, you’ll need to have the two key requirements to a home loan – sufficient income and sufficient house deposit

Brokers are helpful bunch, but even as specialists we can’t always help everyone. It really comes down to what you are looking for. If you are seeking a mortgage specialist to help get you approved, save you time + money and provide recommendations over the entire life of your loan, then do contact us, we will be a good fit for you. Mortgage Brokers value long term partnerships built on mutual respect and trust.

Contact us: and we’ll organise for an available broker to contact you and see if they can assist with your property plans.