MARCH 2020

Market Update.
Don’t worry, we’ve
got your back.

We have been closely monitoring the impact of COVID-19 on the New Zealand property and mortgage market.

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SUPERCITY STATUS

Business as usual.

SuperCity will continue to remain open and where necessary, we can easily work offsite. If you have a meeting booked and would prefer to do this online through a video call, we are more than happy to set this up for you – your health and wellbeing is our priority. We have always said we are here for you for all your mortgage and insurance requirements, so in uncertain times, this is where we want to prove this to you the most.

Most typically asked questions right now

The floating rate has gone down 0.75%, when will the fixed rates go down?
Wednesday night ANZ dropped their 1 year rate to 3.05% and the 2 year to 3.35%. We expect other banks to follow shortly. Kiwibank have dropped their 1 year rate to 3.09%.

Should I fix now or wait until closer to the time my rate expires?
Now that rates are dropping you can choose to lock them in now to secure your rate, or wait until closer to the time to see what happens. At this stage we don’t see fixed rates dropping too much further in the short term. However, we look forward to updating you as events unfold through these SuperCity Updates.

Can I go to interest only repayments on my home mortgage to allow for some repayment relief?
Currently banks do not allow interest only on owner occupied mortgages whatsoever. We expect that banks will need to come to the party here and make some policy changes if the economy continues to worsen.

YOUR INSURANCES

Who’s going to meet your rent or mortgage repayment payments if you can’t?

For most people, their mortgage/rent is likely to be their biggest financial commitment, which can also become their biggest stress if household income drops rapidly, typically from an illness, injury or redundancy.

Giving you peace of mind

This is an unprecedented time and personal insurance is a way of having that extra peace of mind.Typically, the main concerns of our clients are:

    1. Worries with potential increased health risks.
    2. Stress on meeting financial commitments in case of sudden illness for themselves/spouse and/or dependents.
    3. Anxiety about not being able to meet mortgage repayments, rent or living costs.

    If you wish to discuss any concerns and explore your options, you may want to contact Jaime who looks after my own personal insurance protection and I highly recommend her. Her contact details are below.

  • Jaime James
    Managing Director, Principle Insurance Adviser
    M 021 527 069
    E jaime@supercityinsurance.co.nz
    Level 33, 23 Albert Street, ANZ Tower, Auckland 1010
HOME LOAN CALCULATOR

Try our SuperCity home loan calculator.

You will notice we have our new branding and logo which we are super excited about, so keen to hear what you think. We also have a new amazing home loan calculator; we believe the best in New Zealand. See just what difference an extra $50 per fortnight in loan payment makes to the overall saving of interest over the life of your loan, you will be very surprised. This is a secret that banks don’t often share.

As a valued client of SuperCity you have access to the following free services

  • Advice & recommendationsWe are available to provide expert independent advice and recommendations for your home loan ongoing, all you need to do is email, txt or call either of us.
  • Fixed rate home loan reviewsWe’ll help you get the best interest rate in the market for your home loan and contact you well before the bank does.
  • Refinance optionsWe’ll help you refinance if you’re not happy with your current bank.
  • Home loan top upsWe’ll help you top up your home loan if you need extra funds, for example, to pay for renovations on your home.
  • Car loansWe’ll help you get that dream car or to refinance your existing car loan.
  • Need help with your life and living insurances?We can connect you with our award winning Insurance Adviser, Jaime James to ensure you’re protected for the things that matter most, your health, family and the most important asset, your income.
  • Personal insurancesIncluding home, contents, boats and cars.
  • Need help with legal?We can connect you with a Solicitor to assist with the settlement of your home loan, setting up a Trust or for estate planning.
  • Regular communicationWe’ll contact you regularly to ensure all is going well with your home loan and to keep you updated with any helpful tips and tricks.

Have a great day and we look forward to helping you achieve your financial goals and plans.

SUPERCITY MARKET UPDATE ARCHIVE

Up-to-date market news

See our archives to catch up on previous issues.
Interest rates May 2020
Kiwibank now 2.65%
fixed for 1 year

Mortgage wars! Lending policies are changing daily! Now, more than ever, is the time to be engaging with a mortgage broker who is experienced and professional.

read more
Mortgages April 2020
Keep calm, we’ve
got your back

There is no such thing as a holiday, it’s actually a deferment where the money will either be added to your outstanding balance or your mortgage term will be extended.

read more
Mortgages March 2020
Don’t worry, we’ve
got your back

We have been closely monitoring the impact of COVID-19 on the New Zealand property and mortgage market. We are here to help and make sure you stay on track.

read more

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Explore our previous updates here Market Update Archive