Indian Newslink August 1, 2016 Digital Edition

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14 AUGUST 1, 2016 Ravi Mehta Ravi Mehta, Director of Professional Financial Solutions Limited (PFSL) described the market for mortgage finance as ‘challenging,’ and that many of his company’s clients have benefited by expert guidance and professional advice. Mr Mehta said that his company provides services covering the financial needs of most people in the property market. “We get loans approved, negotiating the best possible price, structure or re-structure loans in the most tax-efficient and interest-efficient manner. We suggest appropriate insurance cover to protect the assets of our clients, including their incomeearning capacity,” he said. Mr Mehta said that increasing number of Rakesh Bansal Why you need a good mortgage adviser? With so many changes happening in banking sector around lending for property purchase, there has never been a better time to consult a good and experienced mortgage advisor than now. Some transactions, for example, loans for ‘New Build Properties’ can be complex and require guidance from a qualified Mortgage Adviser right through to the completion of construction and final drawdown. Thanks to decades of experience in banking of its Director Rakesh Bansal, Kiwi Mortgages prides itself in helping first home buyers, many of who had lost hope of owning a house. Kiwi Real Estate & Mortgage finance Deep Bajaj, Nayan Bhatt, Gurudutt Satigrama It is incumbent on every mortgage and insurance broker to ensure compliance of the regulations in force, since integrity and discipline are vital to protect the safety of our financial system,” say Deep Bajaj and Nayan Bhatt, Mortgage & Insurance Specialists of Transparent Finance Limited (TFL) said. “We believe in being totally upfront and honest with our clientele. We put the interests of our clients first and deliver them the best service that the Industry offers,” Mr Bajaj said. “Honesty & Transparency in our dealings with both Client & the Provider is our ‘differential’ in this competitive Industry,” Mr Bhatt said. Services range Among the services provided by the company are Home Loans, Refinancing Home Loans, Restructuring Home Loans, Investment Property Loans, Life Insurance, Income Protection Insurance, Medical Insurance, Trauma Insurance and Total Disability Insurance. Nathan Saminathan Commercial bankers are the biggest competitors to mortgage brokers, since they negotiate rates if their customers have large deposits, Nathan Saminathan, Managing Director, Mortgage Masters Limited in Auckland said. “Banks offer favourable rates to customers with deposits of 20% or more. Of course, lenders are the biggest borrowers and need to pay attractive interest rates to keep their deposits. We therefore do not expect interest rates to remain low very long,” he said. Demand for homes He said that the market is also characterised by the unfortunate phenomenon of shortage of housing stock, leading to rise in prices. sales through auctions is another restraint, since potential buyers cannot make conditional offers. As well as being an authorised Financial Adviser with decades of experience in the field, he is proud of his team at PFSL. Bright prospects He believes that the financial services sector is poised for better times, with economic recovery here and abroad. Stating that New Zealand was among underinsured markets, he said that the potential was high to increase the value of premium written and the number of customers serviced. “The market has always been competitive, with high quality mortgage and insurance advisers and more have joined the sector in recent months. Mortgage brokers account for a third of the mortgages, the balance written by banks directly. There is therefore significant opportunity for us to increase the market share,” he said. Mortgages also helps property investors not only with their lending but also structure their loans in a way that best suits their cash flow to ensure faster debt reduction. “I encourage you to keep saving towards the deposit. You may still be able to receive help and get finance on your low deposit at reasonable rates,” Mr Bansal said. “Lenders may still consider lending on low deposit but will assess on case-by-case basis, depending on other strengths/merits of the application. Your good credit history, good account conduct, savings history and low debts position may get you across the line, despite a relatively low deposit,” he said. First homebuyers would be the worst hit as the new regulatory environment under which banks would be more stringent and with property prices skyrocketing, it would be difficult for many first homebuyers to accumulate the required deposit. “We can arrange loans from various banks and specialist lenders as also insurance from various insurance providers in the market. TFL provides perhaps the best customer support service in the industry. The most common problem that we face in our daily routine is managing the expectations of clients and providers and walking the fine line balancing the two,” Mortgage & Insurance Advisor Gurudutt Satigrama said. As well as looking at avenues to expand market presence and market share, TFL constantly reviews the performance of clients and provides prompt advice in loan servicing, restructuring finance with change in individual circumstances, regulatory changes and other developments of significance. Mr Satigrama said that many people, especially people of Indian origin are not only under-insured but also are not well apprised of the products and services available. Mortgage Masters justifies its name with services that are among the best in the industry. The Company boasts of three full-time brokers and a full-time office manager and loan writer. “We thoroughly enjoy our work and our motto is ‘Helping our clients to achieve financial freedom upon retirement.’ We have been in business in New Zealand for 28 years, providing financial services since 1988 and mortgage broking since 1997. Our comprehensive services include home and business loans, Kiwi Saver and lump-sum investment services and insurance services,” Mr Nathan said. “We believe that properties are still the best form of investment, although people must realise that the yield would accrue in the long-term and hence must be patient. It is better to deal with a qualified and experienced broker than directly with banks. Brokers are a fantastic source of sound financial advice,” Mr Nathan said. Mortgage Brokers Insurance Brokers Accountants Property Managers SERVICES Professional Financial Solutions provides the best advice on all financial matters - Home Loans, Business Loans - Property Management - Business & Commercial Insurance -Life/Trauma/Medical Insurance -Redundancy/Mortgage Protection Insurance -Rental Property Returns/LTC setup -Small Business Tax Returns -Information on Wills and Trusts HEAD OFFICE 35 Morningside Drive, St. Lukes Mt. Albert, Auckland Ravi Mehta Authorised Financial Adviser BRANCH OFFICE Level 1/203 Great South Road Manurewa, Auckland Ph: 09 846 9934, Fax: 09-846 9936 www.professionalfinancial.co.nz |Email: info@pfsl.co.nz Rohit Takyar Registered Financial Adviser Adisclosure statement as required under Securities Act 1988 is freely available on request PH: 0800 6307171 PROFESSIONAL FINANCIAL SOLUTIONS GROUP Professional Financial Solutions Ltd. Aim Associates Ltd. Responsible business with lasting relationship in community Forall your home loan and insuranceneeds,talk to us... First home Investmentproperty Residential or Commercial Building /Extending /Renovating Re-finance/Restructure Self employed Business Loan Property Development Buying an Apartment Lowdeposit Forall your home loan and insuranceneeds,talk to us... Rakesh Bansal ex Bank Manager with over 30 years experience Toll Free:0508332211M:021 030 8135 /099033 602 116b,Cavendish Drive, Manukau City info@kiwimortgages.net.nz www.kiwimortgages.net.nz
AUGUST 1, 2016 Sara Hartigan Sara Hartigan is based in Auckland with LoanMarket. Her passion is to help every New Zealander get into their first home and start climbing the property ladder. Sara got the property bug very early. At just 22, she purchased her first home and at 25, she invested in her first rental property. Since then, she has been building her own property portfolio and loves helping clients do exactly the same. Sara’s passion for property is backed by four years of study in finance and accounting at Waikato University. She is a Registered Financial Adviser. She Real Estate & Mortgage finance enjoys working with investors and property traders and loves getting people into their first home. Sara has taken some of her clients from owning one home to building a portfolio of over seven homes in just two years. Whether you are looking for a competitive interest rate on an existing mortgage or looking to get your first rental property, Sara can help you. She deals with all the major banking institutions and has built great relationships with them over the years. Sara’s clients consist of first home buyers, families, investors, property traders and property developers. Her services are free to her clients as her commission is paid by the lending institutions. Sara is an Elite Mortgage Broker with LoanMarket and is ranked number Nine in New Zealand. Sara Hartigan can be contacted on 027-4725244. Email: sara.hartigan@loanmarket.co.nz Fast, Friendly Efficient Service Ranked 9 th on the country for Loan Market 15 Specialising in •• First home buyers •• Self Employed •• Investment properties •• Refinancing and Restructuring We work with all the major banks in securing you the best lending solution. Our team has over 20 years of experience in the finance industry. Sara Hartigan 12 Osterley Way Manukau 0274725244 | sara.hartigan@loanmarket.co.nz Home affordability improves Supplied Content Massey University’s most recent Home Affordability Report, which surveyed the quarter to February 2016, showed an improvement in affordability nationally - with the index close to the level of the same quarter two years prior. Auckland’s median house value of $750,000 was a fall of $15,000, or 2%, when compared to the previous quarter but there had been an overall climb of $75,000 in the median house price, or 11% growth, in the year to February 2016. Interesting Index Dr Susan Flint-Hartle, Property Researcher and Senior Lecturer at Massey University School of Economics and Finance, said that the Index’s figures are interesting over more extended periods. “Our index produces a figure for a location; the higher the figure, the indication is the less affordable its properties are,” she said. “In February 2009 [just after the global financial crisis], our index figure for Auckland was almost 36 but in February this year the figure was slightly less – just under 34. It was hard to buy a property in 2009 just after the GFC, but what is so surprising is that today, even when rising prices seem way out of hand, the index figure suggests that it is ever-so-slightly more affordable than it was then,” she added. Serious challenges Those buying a first home during the 1980s, for example, also faced affordability challenges, she said; prices were high, lending conditions were tight, and interest rates were through the roof. But while many home buyers have faced challenging conditions around housing affordability over the year, the drivers of those conditions have changed. Dr Flint-Hartle said that Auckland is now an international city, whereas in the 1980s it was not; New Zealand was an entirely different place. “Now the competition for properties is massive – you go to an auction and 20 other people want to buy the house you want. It is Murphy’s Law; there’s always someone with more cash than you,” she said. Westpac New Zealand’s chief product officer Shane Howell said that gathering enough funds for a deposit is the biggest obstacle first home buyers are facing - but there are options. “One is to look at building a home, rather than buying an existing property. Loan-to-Value Ratio restrictions can be lower for home builders and the level of assistance available through the KiwiSaver HomeStart grant programme can be higher
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