Three conversations, three great results.

"We need to talk” may sound ominous in some situations.

However, in the world of loans and insurance, it can lead to a much happier outcome.

Here’s why.

In recent months we’ve had multiple discussions with clients that have led to big savings on their loan repayments and insurance premiums. We uncovered information that meant we could steer clients towards a solution they weren’t aware of.

The bottom line is that they were able to reduce the cost of their loans and insurance cover.

To understand how this works, here’s a bit of background.

Why do we need to talk?

There’s been an important shift in the way financial advisers work over the last few years. The government has introduced regulations via the Financial Markets Authority that require advisers to demonstrate they are acting in the best interests of their clients at all times.

We think this is great. It’s always been our philosophy.

That’s why we schedule regular conversations to check our clients still have the best mortgages and insurance for their evolving needs. We ask whether anything has changed (or might change), and we keep detailed notes.

On top of that, if you get in touch to arrange a loan, we need to make sure we understand the background to your request and not simply say, “Yes, here’s a loan.”

This can really work in your favour – as we’ll explain.

The home renovation loan that comes with 0% finance.

Recently, a client contacted us about a loan for home renovations. This is a common request because people are putting off house moves during the current era of economic uncertainty, and choosing instead to upgrade the house they already own.

We asked a few questions and discovered that the renovation plan included some items to improve energy efficiency. That’s great news, because if you’re borrowing to pay for things like double glazing, insulation and solar panels, we may be able to get part of the loan at 0%. The government is supporting lenders to subsidise these loans because it’s keen to see Kiwis saving energy.

Now, before you get too excited at the idea of a home renovation loan at 0% finance, I have to remind you that every loan is different and there are no

guarantees. There are specific conditions, which we’ll need to explain to you in person.

But that just underscores the importance of having the conversation. If we know the details of your project, we may be able to access alternative (i.e. cheaper) finance.

Long story short: Don’t just go to the bank and ‘put it on the house.’ Talk to us first.

The car loan that’s a better deal than dealer finance.

The second example is a client who wanted to buy a car.

She found one she liked and was about to sign a finance contract with the dealer but decided to check with us first.

It’s good that she did. The car in question was an electric vehicle, and it may be possible to get a cheaper rate from a lender who specialises in EVs.

Now I have to offer a disclaimer here: We’re not qualified to advise you on which car you should buy and whether an EV is the right choice. I know nothing about batteries and resale prices. I’m just saying that if I learn you’re buying an EV, then I may be able access finance at an interest rate that’s better than the car yard can offer.

It all starts with a conversation.

Cutting insurance costs without sacrificing cover.

The third example is a client who was sick of seeing their insurance premiums rocketing at a time of financial stress.

The kneejerk response in cases like these is to start cancelling policies. But this client decided to check in with us.

We undertook a full review of their cover and got an up-to-date view of their finances and life stage. As a result we able to spot some opportunities for savings, and reduce the premiums without sacrificing cover.

Result: Lower premiums and a happy client.

In other cases, we’ve been able to find out where clients are under-insured, and then adjust their cover to minimise the risk of bad news at claim time. Once again, it takes a conversation to identify the issue – and then we can fix it.

Our goal is always to make sure you have the right mix of loans and insurance to help you reach your goals.

I’ll leave you with this thought: When was the last time you reviewed your insurance cover?

It’s good to talk.

If you’re looking at a first mortgage, a re-mortgage, or a re-fix – talk to us early in the process.

If you’re looking at a loan for home renovations, to buy a car, or practically anything else – get in touch.

If something has changed in your life, like starting a family or changing your employment status – we need to talk.

It’s not about selling loans or insurance. It’s about finding out what’s in your best interests. Then we can get to work on your behalf.

Just send me an email or book an appointment using the links below.

Or you can log into our calendar and book a meeting any time, by clicking on the link at the bottom of our emails.

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Video it. Just in case you ever need to claim it

by Sue Tierney • 7 May 2025

Here’s a tip that might come in handy: Get your phone out, open the camera, and video any possession that you might need to claim on your insurance one day. We sincerely hope you never suffer a burglary, fire or flood – but if you do, you’ll be glad you made a record. A few years ago, we made this suggestion to one of our clients. He videoed his stuff – and wouldn’t you know, he was burgled just two days later. This leads to another piece of advice: Make sure you mention this to your insurer, just in case you find yourself in the same position as the person above. You wouldn’t want the insurance company to start wondering if you’d set the whole thing up. Stranger things have happened. A reminder that we don't offer fire and general insurance. We have no skin in this particular game – we simply want to be helpful. However, if you’d like to talk about these types of insurance policies, we can refer you to some trusted advisers. Note that we don’t get paid referral fees or commissions if you arrange insurance with these people: Our contact at Glenn Stone Insurance (GSI) is Lynley Evans, who manages some of our own insurance. Contact her at lynley@gsi.nz You can also use the tool on Frank Risk online. Click on the link here . Alternatively, we’d be happy to refer you to Tower Insurance. We’d need your authorisation to send them your contact details. Note that Tower do pay us a referral fee. Talk to us if you need to look at your life and health cover. If you haven’t reviewed your life, health, trauma, or income protection insurance recently, now may be a good time to do so. This is especially important if your life has changed. Did you get married, start a family, retire, come out of a relationship, take out a mortgage, or experience any other major changes in recent years? We’re not trying to sell you anything – just helping ensure your cover still meets your needs. Click on the link below to set up a call. There’s no charge.

Why do we ask so many questions?

by Sue Tierney • 7 May 2025

The reason is simple. Something you may not think is important could actually matter a lot. It could save (or cost) you thousands of dollars. That’s why we’re always keen to catch up. Talking face-to-face on a video call is an opportunity to find out the things that don’t appear in an email or bank statement. Here’s an example: When a 'cash contribution' from the bank is a bad idea. Banks often use cashback offers or other sweeteners to encourage you to sign on the dotted line. This can be a good deal…or it can be a terrible one. It all depends on your personal circumstances. When we talk to you, we’ll ask questions like these: “Could you reduce your loan in the next few years with a lump sum from KiwiSaver?” “Are you expecting a windfall, such as an inheritance or company shares?” “Are you thinking of selling your house and buying in a cheaper location within the next three years?” Your answers to these questions (and the other questions we ask) will determine the type of loan that’s right for you. The sugar hit of a cash contribution from the bank might turn out to be a false economy, because it could end up locking you into a loan term that doesn’t match your objectives. Here's another example. Refinancing your loan might not be a done deal. Refixing with your bank is usually pretty straightforward. But moving to a new bank – i.e. refinancing your mortgage – may not be. First of all, you will have to go through a complete re-application process. Every lender will need a lot of detail, and their questions could be intrusive. That’s fair enough – they are checking if they want you as a customer. It’s a bigger deal than simply rolling over an existing loan. And you may not even be approved. Then you’re back to square one. Of course, there are times when refinancing is the right option – and we’ll be very happy to do it for you. But first we need to dig into your particular circumstances. So we ask a lot of questions. We're here to help you find the right loan. Your emails and phone calls are always welcome. At Sue Tierney Mortgages, we’re here to give advice whenever you’re thinking about rolling over a loan, taking out finance or changing your insurance. Try us. Click on the link below to set up a call. There’s no charge.

Some clever things you can do to reduce your mortgage rate

by Sue Tierney • 25 March 2025

As Registered Financial Advisers , we’re all about doing the right thing for our clients. A big part of that is making sure you don’t pay a dollar more than absolutely necessary.