Erin Cranfield Loan Market Mortgage Adviser

04/05/2023

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We put you in the driver’s seat when it comes to securing your car finance.



https://adviser.loanmarket.co.nz/coast-to-coast/about-us/erin-cranfield/?utm_source=facebook&utm_medium=organic&utm_campaign=socialpost

12/08/2022

"Today we decode… Sale & Purchase Agreement

A sale and purchase agreement is a legally binding contract between you and the other party involved in buying or selling a property. It sets out all the details, terms and conditions of the sale. This includes things such as the price, any chattels being sold with the property, whether the buyer needs to sell another property first and the settlement date.
A sale and purchase agreement provides certainty to both the buyer and the seller about what will happen when.
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08/08/2022

The government has introduced a new regulatory regime, under which the authorities will be able to ban or regulate certain sales incentives. This is designed to tilt the balance back towards consumers by protecting them from bad behaviour.
Read the full article here:

New law aims to stop consumers being ripped off The government has introduced a new regulatory regime to govern conduct in the financial sector. The Financial Markets (Conduct of Institutions) Amendment Bill requires banks, non-bank lenders and insurers to have the right systems in place to treat th...

04/08/2022

"Today we decode… Mortgagee Sale

A mortgagee sale happens if the borrower can’t pay their mortgage and the mortgagee has to sell the property to get their money back.
The mortgagee is the party (normally a bank or finance company) who loans the money and holds the mortgage.

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31/07/2022

Property prices may have declined in New Zealand as a whole during the first half of 2022, however some major cities recorded price growth between January and May, along with some smaller communities.
www.loanmarket.co.nz/erin-cranfield/news/the-places-where-property-prices-are-still-rising

21/07/2022

From August, councils in the greater urban areas of Auckland, Hamilton, Tauranga, Wellington, Christchurch and Rotorua Lakes will have to apply new medium-density residential standards to most of their housing stock.
The aim of housing intensification is to improve house affordability, by increasing the supply of housing and providing more housing choice.
Are you interested in your property's development potential? Read on the learn more about the new rules.

18/07/2022

Today we decode…
Joint Tenancy

In a joint tenancy, two or more people buy a property and the owners do not have divided shares in the house. For example, if a husband and wife buy a house, then neither spouse owns a share of the house. The house is owned jointly by the couple. This type of ownership is common with married couples.

The property will not become part of either owner’s estate. This means that if one of the joint tenants dies then the other joint tenant automatically becomes the owner of the whole property, regardless of what the deceased spouse has put in their will. Neither of the joint tenants can mortgage the house without the other joint tenant’s agreement.

24/06/2022

In response to industry demands, new property management regulations will impact investors and landlords if passed into legislation.

The proposal would establish a licensing regime and standards for professional property managers, including a mandatory training course that would cover property maintenance, tenant relationships, and financial and trust account management.

REINZ said in a statement: “It is right and proper that there are minimum standards and safeguards in place within a profession that collects millions of dollars each week in rent and has an impact on something as important as the homes people live in”.

Feedback on the government proposal remains open for public comment - click our link to read more about the proposal and for a link to give your feedback.

https://www.loanmarket.co.nz/adviser-name/news/proposed-property-management-regulation-welcome-news

22/06/2022

🧐 Today we decode… Priority Amount

The priority amount is a figure recorded on your mortgage by your lender.

This is usually 1.5 times higher than the value of your house and it protects your lender in the event of a second mortgage, default or mortgagee sale.

It gives the lender the right to claim what they are owed if any of those scenarios ever come up, which could be more than was originally borrowed.

07/06/2022

Property affordability splits Kiwi society

Attitudes to property prices and ownership have driven a wedge through New Zealand society, a new ConsumerLink poll has found. A total of 1,000 New Zealanders took part in the poll, which followed the decision of the Reserve Bank of New Zealand to raise interest rates at a fourth consecutive policy meeting.

https://www.loanmarket.co.nz/news/property-affordability-splits-kiwi-society?broker=erin.cranfield%40loanmarket.co.nz&articles=1048

05/06/2022

Positive signs emerging for buyers, says top economist

According to economist Tony Alexander, a real estate market without the exuberance of buyer FOMO has begun to emerge across New Zealand as higher mortgage rates and inflation take their toll on household budgets, and this is good news for many buyers who’ve watched their target properties disappear beyond financial reach.

https://www.loanmarket.co.nz/news/positive-signs-emerging-for-buyers?broker=erin.cranfield%40loanmarket.co.nz&articles=1051

03/06/2022

Rising prices at the petrol pump and jumping utility costs may leave you feeling a little bereft, and the reasoning behind four consecutive interest rate rises came into sharp focus this month when annual inflation hit 6.9% in the March quarter – its highest level since June 1990.

With the prediction of continued rate increases, this could signal to homeowners that it might be time to reassess your home loan and consider a fixed interest rate during this unique period when prices are surging due to global supply chain issues caused by Covid-19.

https://www.loanmarket.co.nz/adviser-name/news/inflation-spike-feeds-rumours