FAQs

FREQUENTLY ASKED QUESTIONS

Does it cost anything to use your services?
No. Using my services will not cost you anything. Mortgage advisers are paid commission by the bank that provides your loan.

Why use a mortgage broker?
The advantage of using a mortgage adviser is that they can negotiate with a number of lenders to find the deal that best suits you. They do all the leg work for you, saving you time.

Why choose Oliver Broomfield Mortgage & Insurances?
Our processes make financing your house purchase easy; providing quick personal service that takes the stress out of financing your home loan. With our wealth of experience in the finance industry, we know how to get the best deal for you.

Can I buy without a 20% deposit?
While there has been a lot of publicity about the need for home buyers to have a 20% deposit; there are still options available for you. We can talk you through what may be available to you including:

  • The ability to access low equity loans
  • Using your Kiwisaver contributions towards your deposit
  • Building your own home
  • Accessing parental assistance to increase your deposit.

What if I want to buy an apartment as my first home?
With house prices, particularly in Auckland, spiralling upwards, an apartment purchase as a first property may be the best (and sometimes the only) option for first home buyers.

Banks have different lending criteria for apartments compared with standard residential housing so it’s important to understand what you can borrow against a particular property.

We can help you work through your options and make sure you are matched with the lender that will best suit the funding requirements for the apartment of your dreams.

What is a Priority Amount?
A Priority Amount is an amount up to which the funder’s lending will rank before any subsequent lender’s funds, and is put in place firstly to protect the lender.

This amount becomes important when a property is placed for mortgagee sale by the lender.