Our Bay of Plenty Mortgage Advisors

In a nutshell, a mortgage broker 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.

A great way to find a mortgage broker is to get referrals from real estate agents. You could also read reviews online or talk to people in your network to see if they have someone they can recommend. To find a NZHL Mortgage Mentor, simply book a chat here.

Sure, paying off your mortgage is something you can do by yourself. But using a mortgage broker or Mortgage Mentor can help you along the journey faster by finding you the best loan type and interest rates for you (they may have access to rates that the public do not).

There are usually no upfront costs to you. All of the lenders pay mortgage brokers or mentors a commission or procuration fee. This is generally 0.35% of the entire mortgage.

: If you’re doing it on your own, usually it takes 2-6 weeks for a mortgage application to get approved by the lender. If you work with a broker or Mortgage Mentor, this usually cuts the time down to 2-4 weeks.

The best time is as soon as you have the goal to purchase a home. If you’re further along the journey (such as starting to browse the online classifieds) then the next best time is right now. No matter where you are the path, talking to a Mortgage Mentor will be beneficial to you.

Yes, you can. But, it may not be beneficial when the time comes to secure a mortgage and it may even stop you from getting a mortgage altogether. Whoever you choose to go with, we recommend you work with just one person.

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 generally earn money via commissions from the insurance companies they place their clients with, or they get paid an agreed fee for a policy purchase. Bear in mind they may add administrative fees.