Waiheke Marketplace : August 1st 2012
www.waihekemarketplace.co.nz 16 WAIHEKE MARKETPLACE, AUGUST 1, 2012 4757111AA 22 1 11 DEVONPORT G1/45 Stanley Point Rd $679,000 Deceased Estate - Don't Miss Out! The instructions from our overseas vendors are crystal clear "We want it sold" This deceased estate has had a huge price reduction, the beneficiaries have priced this apartment to sell, this is too good to miss. Devon Park, Devonport's premier apartment complex is perfectly positioned on the waterfront of Auckland harbour. This spacious 2 bedroom 2 bathroom ground floor apartment has been recently refurbished with fantastic outdoor flow to a grassed expanse of lawn. Wide views of pohutakawa, the harbour and the Devonport Naval base. Single lockup garage nearby and one extra parking space (which is rented and can be renewed). Set in two acres of spacious grounds with a heated swimming pool, private jetty, resident building manager and walking distance of the 10 minute Stanley Bay ferry to Auckland CBD. Enjoy a safe and secure lifestyle in a well maintained complex right on the water. Immediate sale demanded. VIEW: phone agent for viewing times www.harcourts.co.nz/DP4367 Jane Hastings M: 021 735 263 P: 09 446 2116 E: email@example.com Jackie Mark M: 021 458 797 P: 09 446 2113 E: firstname.lastname@example.org Cooper & Co Real Estate Ltd MREINZ Devonport - Licensed Agent REAA 2008 Competition good for buyers By ALLISTAR WALKER In more than 40 years of banking and financial advis- ing experience I can t remem- ber a time when bankers have been so keen to drop their trousers in order to obtain new business. The deals that have been offered even surprise many advisers as the banks wrestle with one another to maintain market share and get their funds out to earn a few bucks. Since the global financial crisis there has been a flight of deposit monies to the safety of the banking system as people realise that higher returns often carry some risk and in the case of many, total risk. So does this mean that the banks are prepared to lose their shirts over a deal? No. In fact what we see as advisers, is that the banks will only give as much as they have to when pushed, by those in the know. For many people when going directly to the bank, they may find they are not being given the optimal dis- counts on interest rates and may even be charged fees for re-fixing. Furthermore, changing banks just to get a better deal -- the new bank will cover solicitor expenses -- is not always necessary. This is where the value of unbiased advice from a regis- tered financial adviser can be invaluable. Not only will they provide advice based on the many products and lenders available, but can negotiate deals on your behalf. The banks know that when an adviser/broker is dealing with their client that he/she has the client s interests at heart and that they need to be sharp. In other words they help keep the banks honest. The bargains however, are not for everyone. You need to have something the bank finds desirable in a client, whether it be high income potential, low loan value ratio or a big loan. A rule of thumb can be loans over $200,000 are more negotiable with higher value loans over $500,000 com- manding the biggest dis- counts. If you are borrowing more than 80 per cent of your home value the lenders may not be so keen to be as magnani- mous. This is looking at the broad situation, but every client and every situation can be different. A registered finan- cial adviser will be aware of what is possible and what is not for your situation. They will look at interest rate pos- sibilities, upfront offerings by the banks, if a bank were pre- pared to pay your break costs and help you plot your overall mortgage strategy. The good part is that the adviser will do all the work; don t usually charge you unless there are other reas- ons, which would be disclosed up front. You just need to sit back and relax knowing someone is on your case. Is this activity by the banks sustainable long term one may ask? I would doubt it and it really is a blip in what are unusual economic con- ditions. Currently as earlier men- tioned the banks are flush with funds and have a need to get them out to what is still a smaller demand mortgage market when taken over all of New Zealand. The Auck- land and Christchurch hous- ing markets tend to be the most in demand with any oth- ers falling quite a way behind. A misconception in the market is that it is cheaper for a consumer to have a direct-to-bank approach res- ulting in a cheaper loan. The second biggest misconception is that broker/adviser ser- vices come at a cost. Nothing could be further from the truth. The reality is that a mortgage adviser can negotiate your needs between several lenders and uncover discounts not available to those shopping on their own. Check out www.sorted.org .nz for all sorts of financial information. Care has been taken to ensure that any information is accurate. No liability is accepted for its use. Enquiries are welcome. Experienced in business lending and risk (insurance) advice, Allistar Walker is a Registered Financial Adviser and Senior Fellow of Financial Services Institute of Australasia. His full disclosure is available free at www. mortgagehelp.co.nz or he can be contacted at enquiry@ mortgagehelp.co.nz.
July 25th 2012
August 8th 2012