Our Bay of Plenty Mortgage Advisors

A mortgage Mentor is a third-party intermediary between you and the bank. They handle the transactions and will act on your behalf to secure the best rates. A Mortgage Mentor does the same, but stays with you throughout your mortgage journey, offering tailored financial plans, advice and mentoring from the day you start your mortgage to the day you pay it off.

Get referrals from your real estate agent. Your real estate agent should have a pulse on local mortgage mentors in your area and be able to recommend qualified individuals. Real estate agents make a commission after a home is sold, so they have a vested interest in recommending a good broker. Read online reviews.

This is something that you could do independently, but using a mortgage advisor to compare deals for you can be easier, quicker and more thorough. It’s also worth bearing in mind that they sometimes have access to deals that the public does not.

All mortgage lenders pay a mortgage advisor a commission or procuration fee, typically being 0.35 per cent of the full loan size.

The average time for a mortgage to be approved is usually 2 to 6 weeks. However, the mortgage application process with a mortgage advisor cut this time to 2 – 4 weeks. Learn the time frames from initially speaking to a mortgage advisor and getting a mortgage agreement in principle to receiving your keys.

The short answer: as soon as you’ve got a property goal. The longer answer: whether you’re scoping out your options, have a long-distance goal in mind or you’re ready to enter the property market (like, yesterday)… chances are you’ll benefit from having a chat with a mortgage broker.

The answer to this question is yes you can use multiple advisors to act on your behalf, but the problem is, it might not help you get the mortgage you want and, in some cases, can prevent you from getting a mortgage altogether.

Some of the most important ways to get the best mortgage rate is to: review your income and expenses (can your income increase, and your expenses decrease?), make sure you have a good credit score, compare multiple lenders/banks and their rates, and take your time to go over all your options.

Insurance brokers in New Zealand primarily earn through two methods: either by receiving commissions from insurance companies when they place a policy for a client or by charging an agreed fee for policy placement. Some advisors might also add predetermined administrative fees.