Lending
When should I refinance?+
The best time to review your lending is now — especially if your fixed rate is coming up for renewal, your circumstances have changed, or you haven't reviewed your structure in the last 12–18 months. We'll assess your situation and provide advice on how to structure your loan, reduce your repayments, and get debt-free faster. For mainstream bank lending, we're paid by the lender — there's no cost to you. For non-bank and second-tier lending, most lenders don't pay commission, so an adviser fee typically applies. A small number do pay commission. Either way, any cost is always disclosed and agreed with you upfront before any work begins.
How much do I need for a deposit?+
It depends on a range of things, including your financial situation and the type of home you're buying. The Reserve Bank has restrictions on the percentage of home loans banks can lend to people with a less than 20% deposit. Whether you've got 20% or not, get in touch and we'll help you understand the options available and what you can expect.
What is equity?+
Equity is the difference between a property's value and the amount you owe on it. If you sold your property and repaid your mortgage, your equity would be the amount left over. For example, if you have a house worth $700,000 with a $400,000 mortgage, you have $300,000 of equity in the property. As you pay down your mortgage — and as property values grow — your equity increases.
How can my family help me get into my first home?+
If you have family who would like to help, you may want to explore gifting or guarantee options. These can be effective if you're able to meet the repayments on a home loan but don't yet have the full deposit required. Get in touch and we'll walk you through what's possible.
What's a portability or bridging mortgage?+
This type of solution is for people looking to buy a new property who either: (1) have a mortgage and don't wish to pay it off but want to live in a different house; (2) have found a new house and haven't yet sold their current property; or (3) would like to change the structure of their lending from joint to trust or company. Getting this right depends on your specific needs — get in touch to find out if it's the right fit for you.
What's the difference between a fixed and floating mortgage?+
A fixed mortgage locks your interest rate for a set term, giving you certainty about your repayments. A floating (or variable) mortgage moves with the market — typically linked to the Official Cash Rate (OCR) — meaning your repayments can go up or down. Many clients split their mortgage between fixed and floating to get the best of both worlds. We'll help you find the right balance for your situation.
What loan repayment options do I have?+
The most common option is table repayments — your repayments stay the same over the term of the loan, though the split between principal and interest changes over time. Interest-only repayments are also available, where you only pay the interest and the principal is repaid at the end of the loan term. Different options suit different people, so we'll talk through what makes sense for your situation.
What is LVR and why does it matter?+
LVR stands for Loan-to-Value Ratio — it's the amount you're borrowing expressed as a percentage of the property's value. For example, borrowing $480,000 on a $600,000 property gives you an LVR of 80%. The Reserve Bank of New Zealand (RBNZ) sets restrictions on how much banks can lend at high LVRs. Generally, a deposit of at least 20% (80% LVR or lower) gives you access to the best rates and the widest choice of lenders. If your LVR is above 80%, you may still be able to borrow — but your options and rates may differ. We'll help you understand where you sit and what's available.
How does the Official Cash Rate (OCR) affect my mortgage?+
The Official Cash Rate is set by the Reserve Bank and is the interest rate at which banks borrow from the Reserve Bank overnight. When the OCR rises, banks' funding costs increase — and floating (variable) mortgage rates typically follow. Fixed rates are influenced more by wholesale market expectations of where the OCR will go, rather than the OCR itself. If you're on a floating rate, OCR changes affect you directly and quickly. If you're fixed, changes won't impact you until your fixed term ends. This is one reason many borrowers choose to split between fixed and floating.
What happens when my fixed rate expires?+
When your fixed rate term ends, your loan automatically rolls onto your bank's standard floating rate unless you proactively refix. Floating rates are typically higher than available fixed rates, so it's important not to let your loan roll by default. We'll contact you before your expiry to review current rates, model different term options, and help you refix at the best available rate. This is also a great opportunity to review your overall structure and make any changes without break fees.
Should I fix for 1, 2, or 5 years?+
There's no universal answer — it depends on where rates are heading, your financial circumstances, and your need for flexibility. In a falling rate environment, shorter terms (1–2 years) let you refix at lower rates sooner. In a rising rate environment, a longer fix gives you certainty and protection. Many clients split their mortgage across multiple terms to hedge both directions. We'll review the rate landscape and your situation to recommend a structure that balances certainty with flexibility.
Can I make extra repayments on a fixed rate mortgage?+
Yes, but usually within limits. Most banks allow you to make extra repayments on fixed rate loans of between 5% and 20% of the outstanding balance per year without incurring a break fee. Exceeding that threshold can trigger a break fee, which is calculated based on the interest rate differential and remaining term. If you think you'll want to pay down more aggressively, we can structure a portion of your loan on floating to give you full flexibility — while keeping the rest fixed for certainty.
What is a revolving credit or offset mortgage?+
A revolving credit facility works like a large overdraft — you have a set credit limit (your mortgage balance), and you can deposit and withdraw freely. Interest is charged daily on the balance you're using, so the more money you keep sitting in the account, the less interest you pay. An offset mortgage works similarly — your savings and everyday bank accounts are linked to your mortgage, and interest is calculated on the difference. Both options can be highly effective if you're disciplined with money and maintain a consistent cash buffer. They're not right for everyone — talk to us about whether they suit your habits and goals.
What is a mortgage break fee?+
A break fee applies when you exit a fixed rate mortgage before the term ends — for example, if you sell the property, refinance to another bank, or make large lump sum repayments beyond your allowed threshold. Break fees compensate the bank for the interest income they lose when you break the contract early. The amount depends on the interest rate differential between your fixed rate and current wholesale rates, and the remaining time on your term. Break fees can range from zero to tens of thousands of dollars depending on the timing. Before breaking a fixed rate, we'll always model the cost vs benefit for you.
What documents do I need to apply for a home loan?+
The typical requirements are: proof of identity (passport or driver's licence), proof of income (3 months' payslips and the last 2 years' tax returns if self-employed), 3–6 months of bank statements, a list of your assets and liabilities, and details of the property you're purchasing (sale and purchase agreement once you have one). If you're self-employed, additional documentation like financial statements may be needed. Every lender is slightly different — we'll tell you exactly what's needed for your application and help you get it together efficiently.
How long does mortgage approval take?+
Pre-approval (also called conditional approval or approval in principle) typically takes 2–5 working days once we have all your documents. Formal approval — once you have a signed sale and purchase agreement — usually takes another 5–10 working days, depending on the lender and any conditions attached. Some lenders can turn things around faster. We'll set realistic timeframes with you upfront and stay in close contact throughout. It's worth getting pre-approved before you start seriously looking at properties — it gives you clarity on your budget and puts you in a stronger position when you find the right place.
What is second-tier lending and is it right for me?+
Second-tier lenders (also called non-bank lenders) are financial institutions that operate outside the main trading banks. They include finance companies, private lenders, credit unions, building societies, and peer-to-peer lending platforms. Unlike the main banks, they are not required to hold a Reserve Bank of New Zealand banking licence.
The main banks apply strict lending criteria — strong credit history, straightforward income, clean financials. Many creditworthy borrowers don't fit that template. Second-tier lenders exist specifically for these situations and are often the right solution for:
- Self-employed borrowers with variable income or limited financial history
- Borrowers with past credit issues, defaults, or a discharged bankruptcy
- Low-doc applications where standard income verification isn't straightforward
- Property investors needing faster decisions than the main banks can provide
- Bridging finance situations with tight timeframes
- Borrowers who've been declined by their main bank but have a genuine case
Second-tier lending typically carries higher interest rates than mainstream bank lending — that's the trade-off for the additional flexibility and accessibility. It can also be a stepping stone: borrow through a non-bank now, build your financial position, and refinance to a main bank when you qualify.
How costs work: Most non-bank and second-tier lenders don't pay adviser commission — so an adviser fee typically applies for this type of lending. A small number do pay commission in the same way main banks do. Either way, our costs are always disclosed and agreed with you in writing before any work begins. You'll know exactly what you're paying and why, before we start.
First Home Buyers
What happened to the First Home Grant?+
The First Home Grant (previously called HomeStart) was permanently closed by the Government on 22 May 2024 as part of Budget 2024. No new applications are accepted and no further grants will be paid. If you see references to the First Home Grant on other websites, they are outdated. The good news is that the two more impactful schemes are still available: the KiwiSaver first home withdrawal (no dollar cap, available after 3 years of membership) and the First Home Loan via Kāinga Ora (5% deposit with a government-backed lender). We'll walk you through everything still available to you.
Can I use my KiwiSaver to buy my first home?+
Yes — most first home buyers are eligible to withdraw their KiwiSaver savings (excluding the government $1,000 kickstart contribution if you received one, and a small amount that must remain in the account) to put towards their first home deposit. You need to have been a KiwiSaver member for at least 3 years, and the property must be your main home (not an investment property). There's no dollar cap on the withdrawal amount. We'll help you understand what you can access and how to combine it with other deposit sources.
What is a low-equity premium (LEP)?+
When you borrow more than 80% of a property's value (i.e. with less than a 20% deposit), many lenders charge a low-equity premium — an additional margin added to your interest rate to compensate for the higher risk. The size of the premium varies by lender and LVR band. Some lenders structure it as a one-off fee, others as an ongoing rate margin. Once you've built up 20% equity, you can apply to have the premium removed. We work with multiple lenders and can find you the most competitive deal for your deposit level.
What is a pre-approval and do I need one?+
A pre-approval (or approval in principle) is a conditional commitment from a lender that they're willing to lend you up to a certain amount, subject to finding a suitable property and meeting their final conditions. It's not a guarantee of lending — but it gives you a clear budget, shows vendors and real estate agents that you're a serious buyer, and speeds up the formal approval process once you find a property. We strongly recommend getting pre-approved before you start attending open homes. It puts you in a much stronger position and avoids surprises at the worst possible moment.
Personal Insurance
Does ACC mean I don't need income protection?+
No — ACC only covers injuries caused by accidents. It does not cover illness at all. Cancer, heart disease, stroke, mental health conditions, and the majority of long-term disabilities are illness-based, not accident-based. Income protection fills the gap that ACC leaves, covering you for both accidents and illness. For most New Zealanders, illness poses a greater financial risk than accidents.
What's the difference between Life cover, Trauma cover, and Income Protection?+
They solve different problems. Life cover pays a lump sum when you die or are diagnosed as terminally ill — it's designed to protect your family. Trauma cover pays a lump sum on diagnosis of a serious illness like cancer, heart attack, or stroke — while you're still alive and facing treatment costs. Income protection pays a monthly benefit (up to 75% of income) if you can't work due to illness or injury — it keeps the bills paid during recovery. Most comprehensive plans include all three.
What is a waiting period for income protection?+
The waiting period is the time between when you stop working and when your income protection payments begin. Common options are 4, 8, 13, or 26 weeks. A longer waiting period means lower premiums — because you're covering a shorter benefit period. Most people choose a waiting period that matches their emergency fund or available savings. If you have 3 months of expenses saved, a 13-week wait is often a good balance of cost and protection.
What is a "pre-existing condition" and how does it affect my cover?+
A pre-existing condition is any illness, injury, or symptom you had before taking out your policy. Insurers may exclude it from your cover, apply a premium loading, or in some cases accept it with standard terms. The key is full disclosure — your adviser will help you present your medical history correctly. Non-disclosure can void a claim, even for something unrelated. Having a pre-existing condition doesn't necessarily mean you can't get good cover — it just changes the conversation.
What's the difference between level and stepped premiums?+
Stepped premiums start lower and increase each year with your age — they're cheaper when you're young but can become expensive in your 50s and 60s. Level premiums are fixed at your age when you take the policy out and don't increase with age (just inflation-linked adjustments). Level premiums usually work out cheaper in total for long-term cover, even though they cost more upfront. For short-term cover, stepped often makes more sense. Your adviser will model both options for your specific situation.
How much does insurance cost?+
It depends on your age, health, occupation, smoking status, the type of cover, the sum insured, and the premium structure you choose. As a rough guide, a 35-year-old non-smoker might pay $60–$120/month for a comprehensive income protection policy, or $50–$80/month for $500,000 of Life cover. The best way to get an accurate number is a needs analysis with your adviser — we model options from multiple insurers and find the best combination for your budget.
How does smoking affect my insurance premiums?+
Smokers and vapers pay higher premiums — typically 50–100% more than non-smokers — because the statistical risk of serious illness is significantly higher. If you start a policy as a smoker and give up for at least 12 months, you can apply to have your premiums recalculated at non-smoker rates. Full honesty about smoking status is essential — incorrect information can void a claim.
I have a medical condition — can I still get cover?+
In many cases, yes. Insurers typically either exclude the condition, apply a premium loading, or in some cases accept it with standard terms. Some conditions that one insurer excludes, another will cover — which is one of the key advantages of using an adviser who works across multiple providers. The earlier you take out cover, the better your chances of good terms.
What information do I need to apply for insurance?+
Generally you'll need your name, contact details, occupation, income (for income protection), and a health questionnaire covering past medical history, current conditions, medications, and lifestyle factors like smoking and alcohol. For income protection, financial evidence of your income may also be required. Your adviser steps you through the whole process — it's typically straightforward for most applicants.
What's the difference between buying direct vs through an adviser?+
Direct products are standardised and one-size-fits-all. Adviser-placed products are customised — the sum insured, benefit period, waiting period, and policy definitions are all selected for your situation. There are also significant differences in policy quality across insurers that aren't obvious from the outside — your adviser knows which providers have the broadest trauma definitions, the best "own occupation" income protection, and the most favourable underwriting for specific conditions. You pay the same premium either way — our fee is paid by the insurer.
How are insurance premiums calculated?+
Insurers assess your risk profile: age, gender, smoking status, occupation, medical history, and the type and level of cover. These factors combine to determine your base premium. Choices like stepped vs. level premiums, waiting periods, and benefit periods then affect the final cost. Your adviser will show you how each decision affects the premium so you can make an informed trade-off.
Business Insurance
What is shareholder buyout insurance and how does it work?+
Shareholder buyout insurance funds the purchase of a departing shareholder's shares if they die, become terminally ill, suffer total permanent disability, or are unable to work for an extended period. A purpose-built policy is placed for each shareholder — held by the business — and pays a lump sum directly to the business when a trigger event occurs. The business then uses those funds to buy out the affected shareholder's stake, keeping ownership in the right hands without draining cash reserves or taking on debt. It works alongside a shareholder agreement (which defines share valuation and buyout terms) and a commercial lawyer should be involved to get both pieces right. Cover can also increase as the business grows without new medical underwriting, and converts to personal cover if a shareholder exits. If your business has two or more shareholders, this is one of the most important — and most commonly overlooked — protections to have in place.
See full details →
What is key person insurance and how much should we insure for?+
Key person insurance protects the business against the financial impact of losing a person whose absence would materially damage revenue or operations — typically the business owner, a technical specialist, or a top revenue generator. The payout is held by the business and used to cover recruitment costs, lost profit, or debt repayment. A common starting point is 2–5× the key person's annual remuneration, or 12–18 months of the profit they directly generate. Your adviser will help you model the right figure for your specific situation.
What is group medical insurance and is it worth it for my business?+
Group medical cover is a health insurance scheme a business takes out on behalf of its employees. The business pays a single consolidated invoice — one bulk payment covering the whole team — rather than each person arranging their own policy. Premiums are based on the average age and gender profile of the group, not individual health histories, which means better rates and more lenient underwriting than employees would get applying individually. Pre-existing conditions that might be excluded or loaded on a personal policy are frequently accepted at standard terms through a group scheme. New employees join automatically without health questions. Cover can be fully employer-funded, cost-shared, or structured as a voluntary benefit where employees access the group rates themselves. When someone leaves the business, they have a window of 45–60 days to convert their cover to a personal policy — without going through underwriting again, even if their health has changed. They take over the premiums themselves from that point. We help businesses from five employees upward structure a scheme that fits their team and budget.
Full details →
I'm self-employed — do I need income protection or business cover?+
Usually both, structured correctly. Personal income protection covers your drawings if you can't work. Business overhead cover separately covers fixed business expenses (rent, loan repayments, staff costs) during your absence — keeping the business alive even when you're not there generating revenue. The two are complementary. ACC only covers accidents, not illness — so for a self-employed person, private income protection is especially critical. Premiums are often structured as a tax-deductible business expense; your accountant can advise on this.
What's the difference between business and personal insurance cover?+
Personal insurance protects you and your family — your income, your life, your health. Business insurance protects the business entity itself — its ability to continue operating, its ownership structure, and its people. For business owners, both are needed and they work in parallel. Personal life and income protection covers your household if something happens to you. Business covers like key person and shareholder buyout protect the business from the same event. Getting both layers right — and making sure they complement rather than duplicate each other — is something we work through with every business owner client.
Marine + Watercraft
Questions about insuring boats, vessels, cargo, and marine operations — personal and commercial.
Do I need a separate policy to insure my boat or watercraft?+
Yes — a standard home contents or vehicle policy does not cover watercraft. Boats, jet-skis, yachts, and other vessels need their own policy designed specifically for marine risks. Recreational watercraft insurance covers the vessel itself against accidental damage, theft, and weather events, as well as your liability on the water if you cause injury or property damage to others. Cover can apply while the vessel is trailered at home, stored at a marina, or underway. Each boat has different requirements depending on its size, value, and how it's used — we work with specialist general insurance brokers to match the right policy to your vessel.
What should I check when insuring a recreational boat?+
The key things to confirm are: navigation limits (coastal only, or offshore — affects where you're covered), whether the vessel value is agreed or market value (agreed value means no dispute about the payout if it's a total loss), whether equipment and gear on board is included, and whether liability cover is included for injuries or damage to others. Also check whether the policy covers the vessel while it's being transported on a trailer — not all policies do. Racing exclusions are common too, so if the vessel is ever used in organised events that's worth flagging. We'll walk through all of this with you before cover is placed.
I'm a business that transports goods — do I need marine insurance?+
If your business moves goods — whether importing, exporting, or transporting domestically — your standard business property insurance almost certainly doesn't cover goods in transit. Marine cargo insurance specifically covers physical loss or damage to goods during transport by sea, air, or road. The risk transfers differently depending on your trading terms (Incoterms like CIF or FOB), so the right starting point is understanding at what point in the journey the risk sits with you. For businesses that handle other people's freight as a logistics provider, freight forwarders liability provides additional protection when clients hold you responsible for losses. Talk to us and we'll connect you with a specialist broker who knows the commercial marine market.
See full marine cover details →
Is liability cover included in a boat policy?+
Most recreational watercraft policies include third-party liability as a standard component — covering you if you cause injury or property damage to another person or vessel while operating your boat. For commercial vessels (charter boats, water taxis, dive operators), liability requirements are more extensive and typically include passenger liability and, increasingly, pollution liability for fuel spills. Maritime incidents can involve significant third-party costs, so the liability limit on a watercraft policy matters more than most people realise. We'll make sure the cover is adequate for how the vessel is actually used.
