Do you still have questions about mortgages? You can call our team or learn more below.
Once we have all the information we need, your application will usually be processed within about 12 working days. We’ll guide you through each step to make the process as smooth as possible and keep you informed along the way.
For further advance applications, we’ll prepare the necessary documents and send them to you for signing and returning. Once we receive the completed documents, we can finalise the advance promptly.
Repayments can be made fortnightly or monthly via Direct Debit. Monthly payments are taken on the first business day of each month, and fortnightly payments occur on Wednesdays. We will provide you with a payment schedule.
Pensioners of The New Zealand Anglican Church Pension Fund can also have repayments deducted directly from their pension.
Yes, you can make a lump sum payment at any time. Lump sum payments are applied directly to your loan principal, which can help reduce the total interest you pay and shorten the term of your mortgage.
If you are on a floating rate, no fees or charges will apply. If you are on a fixed interest rate term, contact us and we can let you know what fees or charges may apply.
Yes, you can increase your payment amount on your loan at any time. Extra payments go directly towards reducing your principal, which can help you pay off your loan faster and reduce the overall interest you pay. There is no fee for increasing your repayment amount.
Yes, some fees and charges may apply. These can include establishment costs when your loan is set up, fees for variations to your loan, or charges if you make a lump sum repayment during a fixed interest rate term. We’ll always explain any costs upfront, so you know what to expect. You can view our fee guide for a complete list of our fees and costs.
How much you can borrow depends on the property, its valuation, and your financial situation. In most cases, we lend up to 80% of a property’s registered valuation (less chattels) or the purchase price, whichever is lower. For council rating valuations, the limit is 70%.
We also look at your ability to service the loan. As a guide, repayments should not be more than 33% of your gross income from all sources. Talk to us and we’ll help you work out what applies in your case.
To help work out your repayments and see how long you may take to repay your mortgage, try our mortgage calculator.
