Welcome to the inaugural guest episode of the Easier Said Than Done podcast, featuring Daniel Lipman from Blueprint Finance. In this episode, we delve into the critical role of mortgage advisors in navigating New Zealand’s property market.
The Importance of a Good Relationship with Your Mortgage Broker
Daniel emphasises the significance of establishing a strong relationship with your mortgage broker. He states, “When you go direct to the bank, you risk not representing yourself properly.” A broker acts as your advocate, helping to highlight the strengths and weaknesses of your financial situation, which can be pivotal in securing the best financing options.
Key Insights on Financing
- Having a trusted mortgage advisor is essential for building a successful property portfolio.
- Understanding equity is crucial; it refers to your accessible cash, both liquid and non-liquid.
- Usable equity is what you can actually withdraw after the bank’s deductions.
Debunking Mortgage Myths
During the discussion, the topic of whether mortgages are a scam arose. Daniel refrains from making sweeping statements but acknowledges the complexities of the mortgage system. He explains, “The economy is just like personal finance; it can be broken down into equity and debt.” Understanding this balance is vital for making informed financial decisions.
Understanding Different Types of Lenders
Daniel also sheds light on the various types of lenders available in New Zealand, including:
- Mainstream banks, which focus on your income and spending habits.
- Second-tier lenders, which may offer more flexible options.
- Non-bank lenders, which can provide unique products tailored to specific situations.
Leveraging Technology in Mortgage Applications
With the rise of technology, Daniel discusses how AI can streamline the mortgage application process. He believes that while AI can assist in qualifying clients faster, the human touch remains irreplaceable. “You wouldn’t let AI make life-changing financial decisions for you,” he asserts.
Common Pitfalls to Avoid
When applying for a mortgage, Daniel advises potential borrowers to be aware of common red flags, such as:
- Missed payments on credit accounts.
- High levels of debt relative to income.
- Inconsistent income sources.
Conclusion: The Value of Expert Guidance
In summary, having a knowledgeable mortgage advisor can significantly impact your financial journey. As Daniel puts it, “If you want to reach your financial goals, you need to leverage responsibly.” Whether you’re a first-time buyer or an experienced investor, the right advice can make all the difference.
For more insights and to connect with Daniel Lipman, visit Blueprint Finance or call 021-269-2779
Thank you for tuning in to this episode of Easier Said Than Done. Stay informed and empowered in your property investment journey!
