Our Bay of Plenty Mortgage Advisors

A mentor has many similarities with a mortgage broker. They are both third parties that act in your interest to successfully secure a mortgage for you. An NZHL Mortgage Mentor provides ongoing support, tools, mentoring and financial planning advice throughout the duration of your mortgage term.

Seek recommendations from local real estate agents. They should be familiar with local mortgage brokers and have trusted contacts in their network. Secondly, you could do an online search for brokers and read their reviews to qualify them yourself. Thirdly, you could book a chat to talk to a qualified NZHL Mortgage Mentor.

: Using a broker or mentor can definitely speed up the process. They should know all the ins and outs of the mortgage application process and will also know strategies on how to pay off the mortgage faster. Brokers and mentors may also have access to great interest rate deals.

Usually, there are no fees you need to pay to work with a mortgage broker or mentor. They get paid by the lenders – either through a commission or procuration fee.

If you’re applying for a mortgage by yourself, the timeframe to get approved can range from 2 to 6 weeks. If you enlist the help of a broker or mentor, this may reduce the time to 2 to 4 weeks.

If you have a goal to one day own your own home, the best time to talk to a Mortgage Mentor is as soon as you can. Even if it’s just an initial chat to get a gauge of where you’re at, talking to the experts is a great first step to the property ladder.

Yes, you can work with more than one mortgage broker, but it may not be in your best interests and could potentially prevent you from getting a mortgage approved.

There are a few things you can do to help your chances of securing better interest rates from the lender. Showing that you can pay the mortgage is crucial, and you can do this by reviewing your income and expenses, work on boosting your credit rating, and explore all your available options from different types of lenders. A Mortgage Mentor can assist you with these steps.

In most instances, no, you don’t pay an insurance broker yourself (although they may charge admin fees). Insurance brokers usually make their earnings through commissions paid by insurance companies when they arrange policies for clients, or by charging an upfront fee for securing a policy.