Welcome And Quick Disclaimer

SPEAKER_00 0:10

Now, tonight's webinar is all about first home buying journey. It's such an exciting journey, but at the same time, it is a bit of a roller coaster. So, tonight, what I would like for you to do is stay here if you want to understand how to go and get a yes from any bank in New Zealand if you want to buy your first home. We're going to go through a bit of a process as well, what the process looks like. And I will try to go over some of the basic rules of lading in terms of what are we looking at. Now, this disclaimer is this presentation is only for educational purposes. This is not a financial advice in any sense of the world. If you want a proper financial advice from me, if you want specific advice, please come and see me afterwards. We can book a time for you, we can do it online. But tonight it's more of a general knowledge just to let you know what's happening in the world. Cool. So stick with me. We're gonna take your first step today. You're already taking a step by being here tonight. This is all recorded, it will be on YouTube afterwards. So if you want to go back and watch it, um try to find me on YouTube just by typing my name, and you should be able to find this presentation afterwards as well.

Common Fears And Real Success Stories

SPEAKER_00 1:30

So, what do I see at the moment with a lot of my first-time buyers? A lot of my first-time buyers come to me because they're worried, right? They've got either resident visa and they're not sure if they can buy a house. Often the first-home buyers have low deposit, and often they would also have some sort of high debt, and sometimes they may have even bad credit. None of this is the end of the road. And this is what this webinar is about is about me giving you that hope, me giving you that understanding that if you're worried about these things, we can actually overcome this together by having the right advisor on your side and understanding what you need to do. So let me talk you through let me talk you through some of the case studies we've had recently. We had this beautiful family, they came in, they didn't have any experience at all. Within two months, they were in their first home. They were very unsure, they uh they had a lot of worries, and we did a lot of hand holding, which is really, really cool and exciting part of our job. We love doing that. So never ever be afraid that if you've got an advisor, can you ask questions or not? With me, I know a lot of my clients, they're constantly reassured and we show them the way, we help them through the way. I also had this lovely client, Danny and Josh. When they came to me, they had very, very low deposit and they had a very high debt position. So we needed to work through certain steps in order to look after the high debt first. So that's personal loans, car loans, credit cards, all of that sort of stuff. So we needed to tidy that up first. And the low deposit didn't stop them from buying their home. So after meeting me within nine months, they managed to get into their home despite their high debt position and low deposit. And then we also had Conrad, single debt, kids. Again, we deal a lot with single parents. So I see a lot of Facebook posts about I'm a single parent, I'm on benefit, or you know, I have very low income. This is not the end of the road for you either. We can make it happen. So stick with me. Let's go through the steps. And look, I can keep going about you know, clients, but all of that you can find on Google. But let's talk about what did they know that you don't at the moment. Number

Goals Mindset And Finding Your Why

SPEAKER_00 4:00

one thing I do with my clients is we set goals. We set goals in terms of when do you want to buy the house. Do you want to buy the house this side of you know the year? And look, we still got time to buy a house before Christmas if you want to do it this side of the year. All right. But setting goals gives you a target. If you don't have a target, if you don't know where you're going, then you're not gonna get there. So, number one thing we do is we set goals. Where are you buying? When are you buying? What sort of house do you want? What's important to you? So we go through all of that. And then usually people want to buy a house between six to twelve months, and again, 99% of the time, they manage to achieve that goal. So one thing I'm very passionate about that a lot of people that would have listened to my podcast would know is around the beliefs. Before you even dive into the whole homeownership journey, and I can give you guides for Africa. There's so much information out there. You know, the steps that you need to take to buy a home, et cetera, et cetera. The number one thing you need to understand is what's in your backpack of beliefs. What's holding you back? A lot of people come to me with a belief of, I can't do this because no one in my family did. But tell me if it's possible at all. You know, so you've got to work through that. Is it possible for you? What's holding you back? Are you scared to make the wrong move? Are you scared to buy the wrong house? There will be always something with people's beliefs that's holding them back. So until you understand what's in that backpack and until you unpack it, it's really, really hard for you to move forward, for you to make that step. So once you have find your why and why do you want to have a house, you will find a way. Like 100% of the time, when I drill deep with my clients, you know, it starts with, oh, I want to buy a house because my parents told me so, or I want to buy a house because my friend's already buying a house. So I want to keep up with them. These are not the right reasons to buy a house. You want to buy a house because you want to put a roof over your family's head, for instance, because you understand that paying rent to someone else is dead money, or you want to start your welfare journey. The first home may not be your forever home, but it may be a really good rental in a few years' time. So when you understand what makes you tick and why you need to buy a house, then again, things tend to fall into place really, really fast. And the reason I'm telling you all of this, the reason I'm sharing you with our clients, photos and stuff, is to make you believe that it is possible. If these guys have done it, you can do it. You know, we have families with big, um, big families, lots of kids. We have parents, we have young couples. So there's a variety of people we can help, but they knew their why. So you need to understand your why. Now, for those that don't know, my name is Zibunis Ali Mova. I've been around for quite some time now. I've been in the industry for over 15 years, and it's my mission to get people into their homes. I'm absolutely passionate. I love growing the industry as well. I deal with a lot of other women advisors in the industry, and together we're trying to make New Zealanders see that home ownership shouldn't be, you know, a fantasy. Everyone deserves a home. And that's what I believe in. Now let's talk into the structure

The Six Step Buying Process

SPEAKER_00 7:40

now. What do you need to know? What steps happen in a home bias journey? The number one step, after we talked about your goals and beliefs and why we're doing what we're doing, you need to get a pre-approval. All right, that's simple as that. Come and see advisor, me, or anyone else, get a pre-approval. Then you're gonna find a house, then you've got to make an offer, and usually it's a conditional offer, and then from conditional, we're gonna go unconditional, then there is a settlement day, and then you get to enjoy your home. Simple, right? That's all these six steps. Now, for those that want a proper guide on every single step, let me know. Afterwards, we will send you a little email with that PDF guide. But this is basically the gist of what happens in a home ownership journey. Very

What Banks Check Deposit Income Debts

SPEAKER_00 8:28

simple. So let's dive a little bit more into what the banks are looking at. When you come to see me or any other advisor, usually we ask you three things. We want to know what's your deposit, we want to know what's your income, and we want to know what liabilities do you have. So when I talk about deposit, I'm talking about the purchase price minus what you already have saved up. So that's your Kiwi Saver, that's your gifting, you know, that's your savings. And usually people say to me, How low can I go? What's the lowest of the deposits can the banks accept? I'm gonna stop here for a moment and I'm gonna throw a question to you guys. Do you know how low can we go? What's the minimum deposit that we require for you to have? If you can put it in the chat bar for me, I would appreciate 5%. Well done, Joe. Yep, exactly right. So usually we can get you in with 5% deposit, and that's super exciting. A lot of people don't know that. They think that it's only Kayanga Aura that allows them to do it with 5%, but that's not the truth. So there are banks that can get you in. We can get you in with 5%, even outside of Kayanga Order rules. So keep that in mind when you're talking to either me or any other advisor if you decide to choose one. So let's take an example. Obviously, this house is 600k, and it'll be good to have a house like that for 600k in this day and age. When I say 5%, I mean of the purchase price. So 5% of the purchase price is $30,000. Now, the average Kiwi saver balances these days is actually $55,000, which is so cool, meaning that a lot more people can get onto the property ladder and not wait until they have 20% deposit. Or not wait until they have 10% deposit. We can get you in with as low as 30. So when we're talking about deposit, and I talk a lot about Kiwi Saver, on the other hand, we also deal with a lot of migrants. So for them, KiwiSaver is usually not an option. And then we can explore other options, right? So let's have a look at other options. So savings, KiwiSaver, gifts from family can be considered your deposit as well. Sometimes people borrow money for the deposit. This is not my favorite at all. This is my least favorite. So please don't borrow money. Ideally, you don't, and you can't get in with 5% at that point, right? If you borrowed some money, then you need more, more of a deposit. We can also work with gifted equity. And again, a lot of clients don't know about this. A lot of people are unaware that there is an option of gifted equity. This usually works for people that are in a situation where someone can give them the equity of the house. So let's say the tenants and have been living there for 10 years, and the landlord wants to help them into the property, so they can gift them some equity. Okay. You can also sell some of your assets. So if you've got cars, if you've got uh, I don't know, extra memorabilia lying around that you don't want anymore, get rid of things. What are you prepared to sacrifice to get into a home?

Budgeting Saving Fast And Side Hustles

SPEAKER_00 12:00

Now, the next thing that we often talk about is income, right? And income and saving strategies. So part of what I do as an advisor, I try to educate my clients on how they can boost their savings super fast. So I usually say pay yourself first, open an account somewhere else in a different bank, and set up automatic payments. Try not to have access to those accounts, and that way you will be able to save money as soon as possible. So again, remember 5%. If you're earning 100K, you should be able to save 5% within six months. If you're renting with a partner or if you're living at home even faster. I had a 19-year-old girl come see me the other day, and she saved 30 grand already just by working several jobs, and she was living at home and she was still paying $100 a week to her mom. She blew my mind. I could not believe a 19-year-old could save so much money. So I was absolutely inspired by her. Now let's talk about income. We all hear about how tough life is at the moment, right? We've got cost of living crisis, we've got, you know, potatoes and onions increasing in price every day and petrol. So what can you do to control your situation? Usually we talk about budget. So this is where you've got to start in finding those things that you can tighten up on. We talked about saving strategies, we talked about getting rid of high interest debt. Again, something I do with a lot of my clients is we tidy up your debt. So if you've got personal loans, if you've got credit cards, sometimes rolling into one loan can make a difference. And again, we do a lot of that. Now, often I say to people, try to find a second job. What are your skills? Can be a side hustle as well. You know, so for instance, this girl that came to see me, she works as swim instructor, swimming teacher instructor, and then on weekends she also works in the food uh food industry. I have clients that done dog walking. I have clients that use their skills. So whether they're really good at something, they can go and coach someone through that. So whether it's volleyball, whether it's martial arts, whether it's baking cakes, whether it's gardening, you know, everyone always is looking for a cleaner or a gardener. There are people that still have a lot of money. And I'm sorry to say there's an olderly population, you know, we've got an aging population in New Zealand, and often they are the ones that have a little bit of spare cash where they don't mind paying you for cleaning and gardening and doing the loans. Um, I had a client, for those that are here tonight, if you want to tune in in two weeks' time, I'm doing an investment webinar, and I'll talk about that client, but I'll talk about him tonight again. He's managed to buy five properties with my help so far, and he blows my mind. He works at KFC and he recently got a second business doing loans because he realized KFC needed uh loans being done around the area. So he went and asked them if he can open a second company. So he does loans for them, and then he decided to do loans for other businesses and houses around in his spare time. So it is possible if you put your mind to it. You know, this is something you just have to really deal with, your mindset and overcome that. What are you prepared to sacrifice in order to get into a home? So, budget, let's talk a little bit about that. For those that have never done the budget, super, super important. Because if you haven't got the budget now, when you buy a home, you will have to get one because there are other expenses. There are rates, there are insurances. You no longer can call your landlord and ask them to come and fix something, right? You're the one that will be responsible for those things. So super, super important to start now. There are heaps of different tools online that you can do your budget. Sort it is one of the websites that you can do it on. But again, if you need help, reach out. We can help you with that part. And as I mentioned before, the budget is the way to find ways to cover the shortfall. So have a look at your subscriptions. That's the first one we usually find with people. Netflix, Disney, Sky. Do you really need all of those subscriptions? City Fitness. I've recently changed my membership. I was on the highest tier. I didn't realize. I've changed it back down to the budget one. And then have a look. Do you actually even go to the gym? Can you skip the gym for a while, you know, and do something at home in the parks? There's lots of exercises on YouTube that you can just Google and do yourself. So try to find a way because every dollar matters. And discipline, as I talked about it before. If you can't afford something, just don't buy it. If you don't have the money for it, don't spend the money you don't have. A mortgage, buying a home is the only exception when you're buying something with the money you don't have. The rest of the items can wait. If you want flash shoes, even though they're saying, you know, it's on sale or get it through afterpay, don't. Because all of this will affect your ability to borrow money down the track. Now let's talk about liabilities

Liabilities Borrowing Power And Repayments

SPEAKER_00 17:20

for a minute. So this is the third point that we always look at, right? It's what do you have owing? And it's not just debt. So I talked a lot about personal loans, I talked about credit cards, but it's also children. Children can be your liability. But if you've got a kid that's turning almost 18, then we can remove them from being a liability because hopefully they turn 18, they get a job, they move houses, or they become your borderer. They help you with the income. Cars can be a liability. So if you've got several cars, you know, we have to consider the cost for running those cars. So make sure when you want to buy a house, see an advisor. We can help you to package it up nicely instead of falling in love with the house first and then trying to buy a house and then seeing that you can't make it because you've got all these different liabilities to work through. Now, one thing that usually people ask me is when they come to see me is how much they can afford and how do they calculate their repayments. Again, reach out to me afterwards. I've built a calculator that you can use for mortgage repayments. You can put in any numbers and it will give you correct numbers because I was frustrated with all the bank's calculators. I've decided to build my own, and it's super simple to use. So yeah, very, very simple. So let me know if you need help with that one. In terms of amount to qualify, usually the ballpark figure we give people is five times of your salary. So four to five times of your salary, and we're looking at gross. So if you're on an income of 100K per annum before tax, times five, you should be able to borrow 500k. But this is again a very ballpark figure. If you have debt, if you've got 100 million children like me, if you if you have uh, you know, other things that you're paying for, then that figure will change. But just to give you a ballpark figure, this is what sort of stuff uh you can think about. But ideally, you want to run a pre-approval to go through and have a look exactly what you've what you allowed to get. Now, a lot of you will be sitting here going, oh my god, she's been talking non-stop, it's all over my head. Don't worry. You're here, you made it. And I just want to reassure you that what you're gonna decide today is really gonna help you to achieve your goals tomorrow. So please don't be disheartened. There is a way forward, but you just gotta understand it and write it down if you can. What are your goals? What do you when do you want to buy a home? And all we need to know is your deposit income and liabilities. Now, when I mentioned to you about ability to borrow, and I mean I said five times, the caveat that I put around it is that not all banks actually the same when it comes to servicing.

Why Pre-Approval Matters Identity Theft Risk

SPEAKER_00 20:20

So when we talk about servicing, it's meaning how can you pay back that long? So again, this is something that we do for our clients. We can calculate it for you. All you need to do is just have a Zoom session with me. We sit down, we look at your exact numbers because this is just an information webinar. I'm not gonna go through people's numbers in life, but if you do want to have a book a meeting with me, you can, me and my team, and we can calculate it for you given your numbers. Now, when we do that, we go, okay, can you go through a main bank? Or is there an, you know, do you have lots of high debt, bad credit, etc.? Do we need to take a completely different approach there? So there are approaches for various situations. And you know, it's I really highly recommend to do the pre-approval well ahead buying a house because sometimes in New Zealand, someone can steal your identity and rack up bad credit against your name. I've recently had it happen with my first-home bias. It was very, very sad. The client found out that someone used her ID to get some bad, to get some credit, and then they didn't pay it off, and it went to debt collectors. And then debt collectors were knocking on her door, literally, as we just applied to the bank. She had a knock on the door, and then she rang me in tears saying, Oh my god, please put my application on hold. Someone stole my identity. I need to sort this out. So it's been going on for a few months now for this client. Imagine if they found a house. Imagine if they fell in love with the house and then they couldn't buy it because they now have to go through police and various credit agencies to clear that credit. So this is why it's super, super important to go and do a pre approval. It doesn't cost you anything. We don't charge you for that. I know there are some advisors out there that charge you for pre-approval. We don't. So we can do that pre-approval for you just to run it through the system and see if there's anything that comes up or not. So, as I mentioned earlier, we did put together a little PDF guide that covers the whole process. Today I just flew through it because I do want to talk to a lot of you at the end. And uh, but if you want that PDF, contact me, we'll send it to you. If we look back at that backpack, I love this picture. I love this because this is a person looking into the future, she's carrying a backpack. And when you look into your own backpack, I need you to really understand what are your money beliefs? Can we work with that? Often I do a bit of a financial therapy with my clients because it's not just about financial advice, it's about taking you on this journey, on this hike to the mountain, and hopefully we we reach the peak and you buy a house. But once you change your feelings and change your behavior, you will see those results. You will be able to get on top of that mountain. On top of that feeling of, I didn't know I could buy a house. Oh my god, I bought a house. So I would highly recommend reach out, we can go through it, doesn't cost you anything, and we can have a look. So, hopefully, at the end of the super speedy situation presentation, you should be able now to know the basics of the process. You know how to calculate a deposit, you understand that no lenders are the same, and that even if you've got, you know, problems with your credit check, if you've got high debt, hopefully we can overcome all of that and you will be able to buy your home. So, one thing I often say to my clients when they say to me, Is it a good time to buy a house? Maybe I shouldn't buy a house now, maybe I should buy a house later. I usually say back to them is what is the true cost of not getting on the ladder? And this is something that people often look at me going, What do you mean? Well, let me tell you. If, and again I'm being optimistic, but that's what happens often with the house prices, if the house that's worth 600k today goes up by 5% over the next 12 months, it's gonna cost you additional, additional 30k in the house buying purchase, right? So instead of spending 600k on that house, you're now gonna be spending 630. So, yes, your deposit may not change too much, but the cost of the actual house has now gone up and it's costing you way more. So I highly recommend again, don't delay. The best time to buy a house was yesterday, the next best time is today. If you can afford, if your why is strong enough, don't just buy the house because I said so, or the economy believes it's a good time, or your dad thinks that you should move out of the house and buy a house. No, buy a house because you believe that you should buy a house. And if you do believe in that, then today is the good. Now, for those that don't know me, again, I'm just gonna, because I don't know if uh some people have jumped in later. For those that don't know me, and for the first time here, I've actually helped over a thousand clients, I think. I was trying to calculate the other day. I've been in industry for over 15 years, and uh and it's such a privilege, absolute privilege to have been able to help all those clients over the years, and a lot of them come back, right? They come back after two, three years, they've lived in a home, they go, Oh my god, I want to buy another house now, or I want to sell this house, we've now had another baby, we need a bigger house. So we work with clients, not just with the first home, but over the years. And to be honest, now that I've been in the industry for over 15, 16 years, I'm actually getting my clients' children now coming through. This is how old I feel sometimes where the kids come in and they want to buy a house. So that's exciting. Now, uh, if you don't believe me, go through my Google reviews. Um, I managed to get 159 for now. Not everyone wants to leave a review because people are shy, but for those that have, absolutely grateful to one and single one of you. And uh again, you cannot remove Google reviews of Google. I've discovered if there's a bad one, you can never remove it. So thank you to all those clients that have trusted in me and left me these beautiful reviews. There's also Trustpilot, you can go through Trustpilot and have a look. Now, what do we help with? We're one-stop shop, we help with mortgages from the beginning till the end and beyond. We also help with insurances and we help with guidance. So a lot of the time uh after you bought a house, you may still have some questions. You can come back, doesn't cost you anything. Absolutely free. We get paid commission by the bank when you first buy a house, but that doesn't stop us helping you. I mean, at least me. I love helping my clients, so it doesn't matter. So for those that don't know, we do refixes, we will do restructures, top-ups. So if you decide to buy a car or install solar six months after you moved into your home, people come back to us. We also do regular reviews and support with future planning. And then usually every three years, clients come back for refinance because banks reward you for moving banks. Um, you can get cash back every time you move a bank and uh we help with refinances as well. So I'll give you a second to scan this, it will take you to my WhatsApp uh account. The best way to communicate with me is through WhatsApp usually, because emails sometimes I get like 100 emails a day. So often it just takes me a while to get through those emails. But if you've got a quick question, WhatsApp me. I try to be as responsive as possible. And but if it's something urgent, my clients usually not to call me if it's something urgent. Now we're gonna move on to the question time,

Podcast Community Links And Live Q&A

SPEAKER_00 28:15

but before we move to the question time, I just want to do two more things. So there is a Facebook group. Again, if you haven't joined, join that. So please, if you can, do me a favor tonight, uh scan the QR code to get you onto the Spotify or search the Home Loan Hub if you're listening on Apple or YouTube. I would appreciate your follows. I would appreciate you sharing because the more we know together, the better off we all are as New Zealanders. And uh, I almost sound like a politician, but please, that would really, really make me happy if you can spread the joy and the knowledge. So let's jump into the questions. I hope I didn't bore you. That was half an hour. Wow, you're all stuck with me. I love it. Cool. If you want to bring your faces onto the screens, I would love to see who I'm talking to. But yeah, if you guys have questions, I hope that was useful. Camera funky stuff. Was that useful? Yay, thank you, Haley. All right, I see Megan online. Megan, did you want to jump in and did you want to say hello? Are you able to unmute yourself? Thank you, Joe. Hello. Hello, Megan.

SPEAKER_01 30:05

Sorry, I'm gonna throw you. I'm wearing my hoodie, I wasn't expecting all got camera.

Real Estate Agent Tips Timing And Stock

SPEAKER_00 30:10

That's okay, that's okay. So, for those that don't know, Megan is my regular guest on the podcast, absolute superstars, a real estate agent. A very decent one too. I'm sorry to say. Yes, and uh look, Megan, what did I not cover from your point of view, from the real estate point of view? I know there's a lot to cover.

SPEAKER_01 30:38

It was pretty thorough. Yeah, yeah, I I just think you know, uh there's a lot of misconceptions about real estate agents out there. And if you meet a good one, you know, and they're offering to give you help, take the help, ask them for some comparable sales start off around the streets that you're looking in. Uh, if they've got any useful tips, uh just listen to them, run it past your mortgage advisor. Of course, their brunessa will keep you straight. Um, but yeah, ask if they want to help you, like let them, let them work for you as well, because it's all free. So yeah.

SPEAKER_00 31:16

Yeah, exactly right. And I think a lot of people don't realize that we're here to help. And I mean, when they come to an open home and they see you, and then your if your agency, like you as hard courts, obviously your agency can sell other houses, can they stick with the agent they like, or do they have to use the agent at every open home?

SPEAKER_01 31:37

If they come through the house with me, I can help them buy their house, even if it's listed with another hard courts agent. Yeah. If they've turned up to the other agent's open home, then we don't really like to stand on our colleagues' toes. But if if I'm offering to take them for a private viewing and I bring them through the door for the first time, then I can continue helping them. Yeah.

SPEAKER_00 31:59

Okay. That's really good to know because I think a lot, again, there's a lot of misconception. Oh, look, there's a question. Is there a time during the year that it's the best time to look for a house?

SPEAKER_01 32:11

You know what?

SPEAKER_00 32:13

Yeah, I will answer, then you can answer if you want. I sort of brought you in because I was sick of talking by myself. I think for me personally, when I looked in wit at winter times, that was awesome. Or when it's raining, this is the best time because the house cannot hide its sore points. Like in summer, every everything is usually better, right? Because everyone's happier, the sun is shining, the paint looks fresh. But in rainy day, I will say go to open homes on rainy days because then you can see where is it puddling? Puddling, is that a word? Where is it, you know, ponding? And if there is any leaks and stuff, it will show you in a rainy day. But Megan, tell me, what are your thoughts?

SPEAKER_01 32:56

I was gonna say winter as well, but then I was thinking the end of summer when you know when there's heaps of stock on the market and the there's less buyers, there's more stock. So that's it can sometimes be a good time to pick up something for a reasonable price as well.

SPEAKER_00 33:14

Exactly. Exactly. Guys, this is your time to ask questions. You've got two for the price of one. Poor Megan just got thrown in the Z pad and she was not ready. Joel, can I ask you, Joe, where did you hear about this webinar tonight? Where did where are you tuning in from?

SPEAKER_02 33:29

I'm I'm actually from uh Paraparamu Beach. I'm I'm a immigrant uh from the States actually. So just uh waiting on my uh residential visa actually before but but been here in New Zealand for almost three years now.

SPEAKER_00 33:46

Nice. Nice. Well, Harimai to New Zealand. I'm an immigrant too. I've been here 23 years this Christmas. It's gone by way too fast.

Credit History Myths And ClearScore

SPEAKER_00 34:00

Way too fast. But hopefully you will find something. And look, we're both in, you know, Megan is in Paraparumu, I'm in Waikanae. So if you need any help, you know, come and see us and be able to talk you through the process.

SPEAKER_02 34:11

I guess I do did have one more question on I mean, other than other than my BNZ checking account, you know, I don't really have any credit, I guess, here in in New Zealand. And so I don't know if that's good, bad, or neutral, you know, kind of situation.

SPEAKER_00 34:32

Good do not take any debt. It's a myth when people say, oh, you know, I should have a credit card to build a credit history. I know in the States it's the case because I do have some clients at the moment in the States, funny enough, wanting to buy a house in New Zealand. And they said, oh my God, in the States we have to open a credit card to have a credit card history. No, in New Zealand you don't. Anything you do in New Zealand builds your credit history. Your power bills, your phone bills, whether you're paying them on time, that's part of your credit history. Your account, if you go overdrawn on your account, that's part of your credit history. So please don't go overdrawn on your account. Now, one tip I will share with you tonight: clear score. So there is an app called ClearScore. You download it, you go through a verification, I think you have to take a photo with your driver's license, etc., and it will give you a score of what sort of uh credit score you're sitting on at the moment. And then if there is anything that's you know odd or weird or whatever, it will show it there. So the best score is a thousand, and the worst score is obviously zero, and that's a really good indicator for you to know where you're sitting. I'm gonna show you guys mine and drop down by five. I was sitting on a thousand. I don't know why I dropped down, I need to have a look white, but I'm sitting on 995 right now.

SPEAKER_02 35:55

That's awesome. And I'm sorry, the name of the app again is Clear Score.

SPEAKER_00 36:02

Clear score. Thank you for the chat after all. Once you've done it, please click me an email. I would love to know what's your score. That would be really cool. If you can let me know.

SPEAKER_02 36:14

Awesome, thank you.

SPEAKER_00 36:15

Thank you, Joe. Anyone else has any questions? Ah, there you go, one for you, Megan. I have found a lot of agents don't follow up or engage outside of open homes. Is this normal or do I need to work to make connections with them?

SPEAKER_01 36:36

You you shouldn't be working to connect with us. It should be the other way around. Yeah, we we always ring people after the open home and uh ask them, you know, for feedback about the house. And that's a perfect time to say, hey, you know, this wasn't like uh answer honestly. If you don't like the house, that's cool. And then just tell us what you are looking for. And we have quiet listings sometimes where it's not advertised, and we can maybe get you through something else that might suit you better. So I'm sorry that you've had that experience. Oh, we also have databases as well of houses that we send out every week. So yeah, at the bare minimum, you could get on one of them. We've got them, so you know.

SPEAKER_02 37:22

Yeah.

SPEAKER_00 37:23

Hey Haley, you've got to move up to Carpenter. So Haley's actually looking more towards uh Johnsonville, I believe. Okay.

SPEAKER_01 37:31

Well, let me know like if you want to connect, because I've got good agents down that way as well.

SPEAKER_00 37:36

Yeah, I was just about to make that suggestion as well. I think Haley, reach out to Megan, she's super lovely. Love, love, love Megan to bits. And maybe I'll flick with your permission, Haley, I'll flick your details to Megan. And I think Megan, you can connect Haley to some good agents down that way. Yeah, not a problem. Beautiful. Thank you. Jonel, I'm just gonna jump onto your question for a second in terms of you've got 600 and something. Is that reasonable? Yes, without seeing the full picture. 600 something should be okay. We get worried when it's like 450, and we need to understand why. But look, in saying that, recently we've helped a client and they had $35,000 that went to debt collectors. The client was separating, first home buyer, uh, there was a bit of debt, and it just due to separation, things happened, and that debt went to debt collectors. Now, our lovely, lovely favorite yellow and black bank approved them, and the client is now buying a house because we managed to mitigate why, why did that happen? And he managed to pay the debt off within 18 months. So that was a really good character because we always look at five C's, and in that PDF that I'll send you, I talk about the five C's that the banks are looking at. Megan, do you remember the five C's? Nothing to do with carrots.

SPEAKER_01 38:58

It was quite a while ago. I did landing.

SPEAKER_00 39:01

I'm sorry. All right, it's character. Character, capacity, collateral. Oh, conditions. And what was the last one? There's five, five C's. It's in the PDF guide. It's way too late at night. But character is one of the main ones. We look at your character as a person. Age, no, I've just had a 70-year-old get a mortgage. So no, age again is not a massive problem. We're looking at the bigger picture, right? I'm a big picture girl. I need to understand what's the big picture here. Are you buying a house and you won't be able to afford? Are you buying a house, you've still got a pension coming, you're working part-time, you've got a partner that's helping you, you've got a boarder, or you've got kids living at home. So age doesn't really matter. It also depends what sort of work you're doing. So if you're 55 and you're an office worker, usually no problem to give you a 20-year mortgage. But if you're 55 and you're a carpet layer, the bank will know that your knees are probably going to give up in the next 10 years. So how are you going to pay your mortgage? We need to understand. But also, if you're 55 and you've got a 300k kiwi saver, so in 10 years' time, you will be able to repay that mortgage because you've got a giant kiwi saver. Again, that's fine. So it's case by case, and we need to understand what that case is. Hopefully that helps. Once you get a pre-approval amount, how long is the pre-approval amount good for while looking for homes? Good question, Joe. So the pre-approval is usually given two to three months. So you've got three months maximum to find a house. But at the end of that three months, we reach out to you and we say, Hey, are you still looking? If you're looking, we can roll it over for another three months without full application. So, in total, you should be able to get six months. So, within six months, you will be able to buy a house and go from there. Oh, I love your questions today, by the way, guys. You are so interactive. This is probably one of my favorite webinars tonight. I love when people ask me questions. This is so good. And again, the pre-approval is not the beginning and the end of it all. Okay? It doesn't mean that this is your ceiling. Sometimes things change, right? If I got you a pre-approval for 500k, but then suddenly when you find a house, you need a little bit more, but then your income went up. It means we can go back to the bank and we can ask for that little bit more money. So don't treat pre-approval as the word. It is not. The pre-approval is just a way for you to gauge are you even an eligible client to buy a house? There we go from there. Brilliant. I feel like everyone asked a question tonight. This is so cool. Guys, if you've got a few more questions, please fire them away. But as I mentioned, we've got a podcast. We've got a podcast now, Megan. You come a lot and you talk a lot. But I've got a podcast called That Home Loan Hub. And Megan and I talk about sales data. We talk about things that buyers should watch out for. One of my favorite ones we've done recently is around should you write a letter to the vendor when you're buying a home? Um, what sort of things to watch out for? My other favorite guy that comes in is um I was gonna say your husband, but I was like, nah, Evan, the builder, you know, we talk about monolithic properties, right? Should you be looking to buy one? We look at we he sent me a video the other day, and I'm gonna post it on my Instagram with his permission. Is he was under the house and he touched the wood and it all crumbled away. And it's posts that holding a house. So this is why it's important to get builder's report on things.

SPEAKER_01 42:58

So uh he makes it really easy to understand. Like I love the episodes he's done with you because it's just like you would expect a builder to kind of talk in a lot of jargon, but he just is so straightforward.

SPEAKER_00 43:13

100%, 100%. So uh yeah, so please uh follow that podcast if you can. If you've got any questions that we can answer as well, you know, we're here. We're here for that. All right, I'm gonna give you guys two more minutes because I've been talking for 48 minutes now. If you've got any final questions, please shoot them away. But I am running another webinar in two weeks' time, it's gonna be on a Tuesday this time, not Wednesday. And we're gonna talk about investment properties. So once you buy your first home, then how do you go and buy your second home and the third home and whether you should be buying investor properties at all or not? So uh it'll be

Lawyers Costs Rates Insurance And Loan Splits

SPEAKER_00 43:50

after election as well, so it'll be interesting to see which government gets in. And um, I'll have to adjust the presentation accordingly. Yeah, yeah. But uh, do you need to hire a lawyer when buying a home and how much do they usually cost? Fantastic question. I've just teamed up with a local lawyer. In Capitol Coast, and this local lawyer will give us a package for our clients. But normally you should allocate about $2,500 for legal fees for a standard purchase. But if you annoy the hell out of that lawyer, then they will probably charge you way, way more. So try to use me, try to use the agents as much as you can to save money on a lawyer. But yes, you will need a solicitor to buy a home.

SPEAKER_01 44:39

And if the agent's writing up the contract, make sure you've got the legal clause in there saying that your lawyer has to approve it. And the finance. Of course. Yeah, yeah. And your 15 days for the kiwi saber withdrawal. Just ask. Just ask.

SPEAKER_00 45:02

Exactly. Yeah. Thank you, Joe. Really appreciate it. Really appreciate your questions tonight. For those that are local, I do have an office in Waikanae. So if you need to come and see me in my office, more than welcome. If you need to set up a Zoom session, reach out to me afterwards. More than happy to book you in. And yeah, we'll go from there. Oh look, the questions keep coming. When do you do the home loan calculator? Does it include just a loan? Payments are also insurance and rates. You can in my calculator, you can add insurances and rates, but it's a free entry field. You have to enter those costs. Usually for a standard house insurance, I would say allocate about three and a half thousand per year, maybe three to three and a half per year. And rates again depends where you're buying. I would say anywhere between five, I just say five to eight thousand, maybe for rates. That's like your worst case scenario. Yeah. Hopefully that helps. Actually, if you guys are interested, I will drop in the chat bar my um calculator. Do you want that? Should I drop the calculator I've created in the chat bar for you guys to copy? Yeah? Okay. All right. Give me a second. My best friend did it for me. His name is Claude. Him and I. We spent three hours building this together. So have a look if that link opens. Love that. I love playing with Claude. Sometimes he's great, sometimes he's not. So uh yeah, so I'm building this calculator using his help. There is an option to do just one payment or split payments. So, because sometimes we split your mortgage as well. And again, this is where the power of advisor comes in is when you buy a house, when you find a house looking to buy one, and you know how much you're borrowing, we will go through the structure of your loan. We will talk about what sort of split loans you're gonna have, you know, whether it's 200k fixed for one year, 200k fixed for three years. And that calculator, the way I built it, is helps us to calculate those repayments. So please open up before we finish and save it somewhere for you to be able to use. Because I was struggling, Megan, I don't know if you ever use the bank ones online. I really struggle with them. You know, they want you to enter deposit and purchase price. A lot of people are confused with that. They don't know, they just want to know how much the repayments will be if they're borrowing 500k.

SPEAKER_01 47:34

Yeah, yeah. And I think I think it can be very confusing. Everybody's situation is so different. You're best to go call Debranesso and ask her because she'll actually calculate it based on your situation. You can pay me later. But it's it's true, like every single person is. I mean, these calculators are based on standards, and nobody's really standard anymore. We're all unique.

SPEAKER_00 48:03

Yeah. Yeah, 100%. There's no questions on YouTube, so that's fine. Sometimes, sometimes I forget it. I'm live on YouTube, and then I go back and there are questions, and I'm like, oops, I forgot to answer that. Love it. Awesome.

Final Wrap And Next Webinar Teaser

SPEAKER_00 48:20

Well, guys, you've been an absolute delightful bunch tonight. Love the questions that were coming in. And uh, yeah, if there's anything we can do for you, use us. We're free. If you're outside of Carpeti, still reach out to Megan. She will know who all the great agents are of hard courts across the country. She will uh introduce you to those people. But uh, for me, we can help you with lending. It's not just me. I actually have a team behind me as well. So when you're dealing with me, you're dealing with multiple people. So we're always in touch with you. Uh yeah, and for those that I said, if it's urgent, WhatsApp me or call me, much, much faster. Thank you all. I'm gonna wrap it up and Megan, a special thank you to you for jumping in. I'm sorry to put you in a spotlight like that. Next time I'll dress for it. Yeah, just be prepared. You should know by now how I operate that I just chuck people in the deep end. That's okay, we're all real. Exactly, right? Exactly. So oh, thank you, Joe. Thank you. Sorry, appreciate it. Good luck with your residency. Thank you, Haley. Thank you, Janelle, thank you, Maria.