The secret to being mortgage-free.

It’s a boring word – budgeting. Actually, budgeting isn’t boring at all. It’s beautiful. It’s the key to living a wonderful, happy life, where you spend money on the things that add value and bring you joy, while steadily paying down debt. Or if you’re looking to buy...
Beware of the mid-40s trap!

Beware of the mid-40s trap!

You’re established in your career, settled in your home and bringing up a family. You’re trucking along. Chances are, your earning power is at or near its peak. Life is good. What’s wrong with this picture? You’re busy. You have your hands full every day with...
Think you can afford it? The bank might not agree.

Think you can afford it? The bank might not agree.

Every week I meet clients who proudly tell me, “I’ve done my numbers and I can afford it.” Really? The bank may not agree. That’s because banks in New Zealand operate under the Responsible Lenders’ Code, which means they look at all your potential liabilities and...
Don’t fall foul of anti-money laundering rules.

Don’t fall foul of anti-money laundering rules.

Are you a crook? Of course not. But you could still end up in a sticky situation thanks to Anti-Money Laundering (AML) legislation. A bit of background. Since 2015 New Zealanders have been obliged to follow global rules designed to stop criminals and terrorists...
Thinking of being a guarantor? Be careful.

Thinking of being a guarantor? Be careful.

I recently talked to someone who was looking to buy a property in New Zealand. The budget was tight, but no worries – their parents in Australia were happy to go guarantor for the mortgage. Then I explained what this actually meant. There was a sudden lack of...
How the Responsible Lenders Code could derail your loan application

How the Responsible Lenders Code could derail your loan application

All banks in New Zealand must adhere to the Responsible Lenders Code. It’s a set of rules designed to stop borrowers taking on loans they can’t afford to service. So far, so good. However, I’ve noticed that many financially solid citizens are finding their mortgages...