Home loan solutions, tailored to you
At Colab, our mortgage advisers work with you to understand your goals, and seek out the best home lending solution whether it’s for your first home, next home, or investment property. Best of all, in most cases, our services come at no cost to you, as we’re paid by the lender.
The mortgage is just one part of the journey.
When you decide to buy a home, whether it’s your first, your next, or an investment, there’s an entire journey that you go on before even getting to the mortgage part.
We’ve been through it all ourselves, and over the years we’ve helped countless clients navigate the complex paperwork, the pitfalls and legal bits to getting the right mortgage to suit the situation. We’d love to help you too.
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First home buyers
We’ll guide you through the entire process from the beginning to settlement day. From helping you understand your deposit options, working out how much you can borrow, navigating the buying process, to finding the right home loan to suit you.
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Next home buyers
Upgrading? Downgrading? Side stepping? Buying and selling is often more complex than buying your first home. We’ll work together to help you decide whether to buy or sell first, sort the mortgage, and make sure your lending fits in with your future plans.
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Property investors
Having the right strategy is the key to any successful investment, and that includes getting the lending right. Don’t put all your lending in one basket, or assume things will work out on their own. We’ll help you keep on top of it and make sure your lending fits the bill.
Our mortgage brokers work with over 25 lenders to find the right deal for your situation
And plenty more!
First home buyer? We’ve got you.
Buying your first home is an exciting milestone, but it can also be daunting. Our mortgage advisers are here to help you at every step of the way, from getting you pre-approved, to advice throughout the buying process, to finding you the best home loan deal with a hot interest rate.
Our first home buyers guide has everything you need to know to get started.
Buying your first home is an exciting time, but it can also be overwhelming and hard to know where to start. We’ve put together a PDF guide that breaks it all down including the buying process, an understanding of what Government help is available to you, tips for getting your deposit together and plenty more.
Get the guide to buying your first home
Tips to get you on your way
First things first: Pre-approval
Before you start hitting up open homes, it’s important to get pre-approval from the bank so that when you find something love, you can jump on it right away. Having a figure that you’re pre-approved for also means you know what price you can afford before you put in an offer.
Which lender is the right one for me?
The main five banks are all fighting for your business and in a lot of ways they’re all the same. So how do you know which is the right one to go with? Our team is always up to date with their various lending criteria and appetite for different lending types. Not to mention the interest rates we can get out of them. We get to know you and your plans so we can make sure you end up with the lender that fits you best.
How much can I borrow?
Understanding how much you can borrow is a key part of your home-buying journey. It sets the boundaries for your property search and helps to make sure you don’t overstretch financially.
How do lenders assess your borrowing capacity?
Income, expenses, debts, and deposit size. They also consider regulatory criteria like loan-to-value ratio (LVR) restrictions and debt-to-income (DTI) ratios. We can break down the jargon and help you understand what these mean for your situation before approaching the banks.
Deposits: How much is enough?
The amount you want to aim for is 20% of the purchase price, but what a lot of potential buyers don’t know is there are lots of options for first timers to buy their first home with as little as 5% deposit! Here are a few common ways you can get there:
KiwiSaver
If you’ve been contributing to KiwiSaver for at least three years, you’ll likely be eligible to withdraw most of your balance to help buy your first home. You’ll need to leave a minimum of $1,000 in your account, and you must be a first home buyer, or in a similar financial position to one.
Kāinga Ora first home loans
Supported by Kāinga Ora, this scheme allows eligible first home buyers to get into their first property with just a 5% deposit by applying through a participating bank.
At Colab, we work with all the main banks that offer First Home Loans and can guide you through the process, from checking your eligibility to helping you gather the right documents and submitting a strong application. Since these loans are backed by the government, the interest rates are often comparable to standard loans.
The family ATM
While gifting cash is the most common way families help, it’s not the only option. If your parents or family members own property or have a decent term deposit, they might be able to support you by acting as guarantors, co-borrowers, or by offering you a loan that meets certain bank criteria. We’ll talk you through how it works and which options might suit your situation.
Low deposit lending
Most banks offer lending with less than a 20% deposit, although it often comes with a small interest rate margin or low equity fee. The Reserve Bank have placed limits on how much low deposit lending banks can do for existing homes, but many are still open to it depending on their capacity at the time. At Colab, we stay closely connected with all the major banks and know exactly who has room to lend. New builds are exempt from these restrictions, making them a great option if you’ve got a smaller deposit.
Buying your next home?
Buying and selling can be a bit of a juggle, so it’s important to have the right advice and strategy. Our advisers are here to help you decide whether to buy or sell first, navigate the sale and purchase agreement, and find the right finance solution for you.
Together we can find the right buying and selling strategy
When it comes to buying your next home, the first thing to figure out is whether it’s best for you to buy first or sell first. There are pros and cons to both, so there are few things to weigh up.
Selling first
Selling first can be more straight forward: it gives you certainty around how much you can spend on the next home, and puts you in a position of ‘cash buyer’ which is appealing to vendors. Being cashed up also means you can pounce right away when you find the right house.
The flip side is that once you’ve sold, the clock starts ticking and you’re under time-pressure to find the right property for your next home.
Buying first
On the other hand, buying first can give you certainty that you’ve got your next home locked in, but the pressure is on for your existing home to sell. The other risk is not knowing if you’ll sell your home for enough to cover the house you’ve just bought.
Property investors: get the right advice for your portfolio
If you’re looking to grow your wealth through property, Colab is here to help. Whether you’re buying a rental or expanding your portfolio, our expert tailored advice will help you make savvy decisions that maximise your investment potential while keeping risks in check.
Why invest in property in New Zealand?
There’s a reason why so many Kiwis use property as a go-to wealth building strategy for retirement.
It’s an asset that provides passive income
Your investment property can be rented out to tenants, providing an income that unlike your salary, doesn’t require active day-to-day work.
The rental income can help cover mortgage repayments and other property related costs, and over time can even provide a profit.
Capital growth
Unlike a car that decreases in value the day you drive it home, a house in the right area generally increases in value over time. As its value goes up, so does your equity, which means you can leverage it to buy more property or use it as a buffer.
Tax benefits and long-term financial security
In New Zealand, it’s usually possible to claim tax deductions on your mortgage interest, rates, insurance and maintenance. With the right structure, property can be a efficient way to create extra income.
It’s also common for Kiwis to use property as part of their retirement plan, with the rental income generating regular payments when they stop working. It’s a robust way to invest compared to stocks and other volatile investments when what you’re after is a long-term, stable source of income.
Over the years we’ve helped lots of Kiwis create strategies to get the most out of their property; talk to us about your strategy today.
Why talk to Colab about property investing?
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We've got stacks of financial and property investing experience between us
We’re not only mortgage advisers but self-confessed property nerds with decades of financial and property experience between us. This mix means the advice we give is always practical, easy to understand, and based on what actually works in the real world.
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We'll provide expert advice at every step
One of the benefits of a small team is that when you talk to us, you’re talking to the expert that’s going to walk you through every step of the process, not a call centre. We’ll get to know you and your plans, and guide you through each step with care.
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We can offer you true choice
Unlike a lot of mortgage brokers, we’re accredited with all the main banks and the smaller ones too. This means we can find the best deal in the market to suit you and your lifestyle. Saves you spending time shopping around too.
Get in touch
Get in touch
After some advice? Whether you’re looking to buy your first home, next home or want to chat about your investment property strategy, send us a message and let’s have a no-obligation chat! It’s free, so why not?