Mortgage Rates favouring First Time Buyers..

June 15th 2012

Nice to be able to write a headline like the above one, because its not always been the case, especially so in the Nelson region.

Coincide that with a seemingly more competitive lending environment, along with the ability to use some of your Kiwi-saver savings,  and the continuation of Welcome Home loans,  the decision by Dr Bollard this week to maintain New Zealands 2.5% official cash rate should be welcomed by anyone looking to buy their first home and lock in a reasonably priced mortgage. And dare I say it, good prospects for capital growth in New Zealands sunshine capital.

And just perhaps if a Nelson region property is on your desired list you should read the article (The Nelson Mail June 13th 2012) whose headline I have placed above.

‘‘Now is a good time for two reasons. No 1 because interest rates are so low and No 2 because the upward leg of the house price cycle is only just restarting – meaning in two years’ time, even if interest rates are at the same level, I expect house prices to be higher. Therefore, it’s better to be a first-time home buyer now than it is down the track.’’

The above quote from the article summarises a couple of favourable reasons to consider the move, even a glimpse at recent Paymark figures, indicates Nelsonians are feeling better about themselves.

However to put it plainly, those whom desire to enter the first rung of the property ladder, could do worse than ponder this Business Day article written by Martin Hawes a few weeks back.