Many young couples want to know … to use or not to use their Kiwisaver?
This is just one question you can put to your mortgage broker at Loan Market.
In most cases withdrawing funds from any superannuation fund such as KiwiSaver is not possible until retirement, but financing your first home deposit is one exception to this rule.
To be eligible you will need to meet the criteria of your lender and this includes being a member of Kiwisaver for three or more years and the funds must be for your very first home purchase you will then occupy. The home cannot be an investment property. Your Loan Market broker can take you through this step by step.
It is important to get your loan pre-approved ahead of shopping for a home. This way you have the confidence to bid at an auction or negotiate within your approval level.
So what is pre-approval?
Pre-approval is when a lender has looked at your finances and is satisfied you could pay off the type of loan you applied for. It means you:
- Know what you can spend
- Can bid at auction
- Get an idea of what your loan repayments might be
The Loan Market team is the link you are looking for when purchasing your home.
Why should you go to Loan Market for help?
The Loan Market broker works on your behalf with all the major New Zealand and Australian owned banks. A loan is a large, and often long-term financial commitment. It makes sense to get it right the first time. A Loan Market mortgage adviser can help you compare rates, fees and features to help you select the product that suits your specific circumstances. With over 100 Loan Market advisers across New Zealand, with access to more than 800 loan products, there’s someone near you who can help ensure you get the best loan To learn more call Bree Cameron who can put you in touch with a Loan Market advisor near you or visit https://www.loanmarket.co.nz/brokers/sifa-sifakula