Posts by adviceHQ
181 days ago

Property / Finance Changes from 1 July 2024

Financial Adviser, Director from adviceHQ

🎤 July 1 brings a raft of changes to the finance and property market:

Bright-line Test:
✅ Now 2yrs (previously up to 10yrs).


Deposit Requirements:
✅ 30% deposit for investment properties (previously 35%).
✅ 20% lending available for low deposit properties (previously 15%).

Debt-to-Income (DTI) Ratios:
➖ DTI ratio restricted to 6 x for owner-occupier lending (20% exception).
➖ DTI ratio restricted to 7 x for investor lending (20% exception).

Credit Contracts and Consumer Finance Act (CCCFA) Reforms:
✅ Commerce Minister Andrew Bayly and Housing Minister Chris Bishop said the government is revoking 11 pages of what it calls "overly prescriptive affordability regulations."

These changes should stimulate activity in the finance and property market, contact adviceHQ for independent financial advice to help you secure your future.

#adviceHQ #DTI #LVR #CCCFA

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More messages from your neighbours
2 hours ago

Which is correct?

Kurien Thomas from The Flea 88.2 FM

I live on the Shore and I am in Auckland 🤪

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11 days ago

Poll: Would you rather: Christmas in summer forever or winter forever?

The Team from Neighbourly.co.nz

Just a bit of a fun poll to get you thinking.

If you had to live out your Christmas days, would you prefer it was a summer Christmas or a winter Christmas?

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Would you rather: Christmas in summer forever or winter forever?
  • 62.9% Summer
    62.9% Complete
  • 35.8% Winter
    35.8% Complete
  • 1.4% Other - I'll share below
    1.4% Complete
2000 votes
1 day ago

What word sums up 2024, neighbours?

The Team from Neighbourly.co.nz

If 2020 was the year of lockdowns, banana bread, and WFH (work from home)....

In one word, how would you define 2024?

We're excited to see what you come up with!

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