A people-first approach to getting on the property ladder
Following his role in On the Ladder with Kiwibank, we asked Mobile Mortgage Manager Craig Davis for his insights, and what it takes to achieve your property goals. This is helping Kiwi on the ladder.
Kia ora Craig, what are your tips for those who are struggling to get into their first home?
Firstly, talk to us via any channel that suits. We’ll walk you through your options and discuss a way that you can achieve what you want.
If you’re not quite ready to purchase a home, talking to a home loan specialist will help you to get your finances in order and set yourself up for future goals. This might involve touching base monthly to see how your savings goals are going.
We’ll also discuss affordability around owning a home. We look at the whole, realistic picture – not just the mortgage, but the insurance, rates, and maintenance too, as these are part and parcel of owning a home and can be forgotten when you’re working out your budget.
What are your tips for Kiwi looking to buy their next home?
Again, it’s about sitting back down to have a conversation. It’s a case of relooking at your situation and understanding your new goals, for example if you're looking for an investment property or an upgrade to the family home.
We help you to understand the true costs and then discuss the options. We also talk through the products and services we have that could help you achieve your goals.
If you're looking to buy an investment property, it’s important you talk with an accountant or tax specialist, so that you understand all the tax implications.
When you come direct to us, we do a deep dive into home ownership topics because we know our products well. We’re not just talking about the latest cash back offer, we’re talking about the whole picture - your financial goals and the roadmap to get there.Craig Davis, Mobile Mortgage Manager at Kiwibank
What’s your fondest memory of helping someone into their first home?
There was a couple that moved to Gisborne who had four children from other whānau members coming to live in their household. They really wanted a home to start building their new life together so were looking to purchase with a low deposit through Kāinga Ora.
Kāinga Ora requires properties to pass a range of building standards before they will approve the purchase. The deal almost fell through because of a sticky wooden window that wouldn’t open properly and a crack in a glass pane. Kāinga Ora said the customers had to get quotes from qualified builders to remedy the problems and show them how they could afford to get it all fixed.
Luckily, they found a builder through their extended whānau who was able to fix everything at no cost. At the time, it felt like we were getting turned down at every direction. Everything that could’ve gone wrong, went wrong, but we eventually got the application across the line. Everyone was so happy, it was an emotional time for everyone involved.
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