Credit Simple NZ
Here are a few tips to help you ring in the new decade with as little debt as possible. 1. Reconsider whom you need to shop for At different points in our lives, it makes sense to shop for certain people and not for others. For example, when our nieces and nephews are young, gifts are appropriate but when they’re adults, maybe a heartfelt card is enough. Go through your list and decide whom you really need to shop for…
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New Zealand banks don’t just include negative incidents on their reports to the credit bureaus, but they also include positive ones. That means there are ways to fix your credit score even after a few late payments or even a default knocks you back. Here are the steps you’ll need to take to fix your credit rating and get it pointing in the right direction. 1. Know thy credit score It’s hard to get from point A to point B…
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In the old days, only negative borrowing patterns – think late payments and defaults – could affect your credit score, also known as your credit rating. However, in 2012, New Zealand implemented a scheme called Comprehensive Credit Reporting (CCR). That means positive borrowing patterns – like making your payments on time – can help your score tick back upward. The positive and negative factors that affect your credit score Before we jump into the nitty gritty, this infographic should give…
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Want a more efficient and effective way to compare home loans? Just follow these steps: 1) Identify the non-negotiable features you need. Google those features and shortlist the banks that offer them. Forget about the others, as there’s no reason to spend time of offers that don’t suit your needs. Case Study A 10% home loan deposit is below the 20% threshold for most loans. Kath googled the feature low-deposit home loans and saved the links to all relevant home…
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What is a good credit score in New Zealand? Your credit score, which is sometimes referred to as your credit rating, can range from 0 to either 1,000 or 1,200 depending on the credit bureau calculating it. In all cases, the higher the score, the better. To make it easier to visualise, we’ve provided the table below to help you understand what constitutes a good credit rating in New Zealand – bureau by bureau. If you want to see how…
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Here is a list of the most common home loan features lenders offer with their home loans. We explain some of these features in more depth on their own page if you want to learn more about them. You might not need all of these features, so don’t overlook a loan with an attractive interest rate and fee structure for flashy features you might not even need. With that out the way… Here’s your list of home loan features Offset…
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Most home loans come with their share of fees. Don’t fret over the length of this list, as you probably won’t be subject to all of them. You may even be able to convince your lender to nix a few. It’s also not an exhaustive list as every lender has its own fee schedule. Important Make sure you understand your lender’s specific fee schedule as it can differ from lender to lender. Without further delay… your list of the most…
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So you’ve been sifting around on CreditSimple.co.nz and seen some sweet deals, but you’re thinking it’s wayyyyy too hard to switch banks, right? Errr, pull up a chair and sit down for a moment. Actually, switching banks is easier than ever. Thanks to internet banking, our bank accounts capture loads of information – think about how many automatic payments or preloaded payees you have on your account (mum, dad, utilities, the local pie shop and so on) – and having…
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Of course you want a home loan with low interest rates, minimal fees and an offset account that lets you deduct 100% of the balance from the amount owed. But other than that, the definition of the “best” loan varies based on your personal circumstances. Ready to apply? Check out our offers page for a range of home loan offers to suit your needs. See offers The basics As described in the intro, there are three basic things all hopeful…
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Online home loan calculators can be among the most valuable tools you’ll find as you seek to maximise your borrowing capacity, nab the best deal and work out the most cost effective way to pay the darn thing off. What is a home loan calculator? “Home loan calculator” is actually a catch-all term that applies to an entire category of calculators that each has its own function. For example, one type of calculator will estimate how much you can borrow,…
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