Tag: Insurance

Introducing Kainga Whenua Loan Housing New Zealand

0
September 16, 2010

Housing New Zealand and Kiwibank are working together to help Maori achieve home ownership on their multiple-owned ancestral land with the introduction of a new loan called Kainga Whenua.

If you have a right to live on multiple-owned Maori land (hold a license to occupy), a Kainga Whenua loan enables you to build, purchase or relocate a house on that land.

Kiwibank will approve and provide the loan, you will need to meet their standard lending criter1a as well as Kainga Whenua criteria.  Housing New Zealand will provide lenders mortgage insurance to Kiwibank for the loan.

A Kainga Whenua loan is secured only against the house, not against the house and land as is the case with most home loans.

With a Kainga Whenua loan, Kiwibank can lend 100% of the house building costs or the purchase price of the house, upto $200,000.00 subject to conditions.

The conditions include obtaining a license to occupy the land, a valuation from a registered valuer and a satisfactory building contract. No deposit is required for a loan below $200,000.00.

Kainga Whenua loans are only available to those people who have no other access to finance to build or re-locate to or buy on their multiple-owned Maori land.

For further information about this loan please contact Housing New Zealand, Kiwibank or us for further information.

Comments and feed back welcome. :)

: Uncategorized
: , , , , , , , , ,

ANZ Bank and National Bank Customers Canterbury

0
September 16, 2010

For any clients who have settlements up and coming in the Canterbury area and have financed through either the ANZ Bank or the National Bank should be aware prior to the draw down of any loan the Banks require the following:

1.  Full replacement insurance without a 21 day stand down period.

2.  A report from a structural engineer confirming the property hasn’t been damaged, unless the Bank advises otherwise.

3.  Acknowledgement that the customer has received advice about their risks in buying a property at this time.

The 21 days stand down restriction on the insurance means a client won’t be able to make a claim for any damage caused by an earth quake within 21 day period from the date the insurance started.

We recommend all client’s contact their insurance companies directly to obtain further information.

Please leave your feed back and comments, or if you have any queries or questions please contact Kim 0800 2 87878. :)

: Uncategorized
: , , , , , , , , , , , ,

Conveyancing Tips

0
March 1, 2010

With the introduction of the new Real Estate Agent Authority it would be good advice to keep file notes on conversations between yourself and either the Vendor or Purchaser. By keeping simply file notes it can save the he said, she said, they said or you told me. Being proactive and not deactive is so important with the introduction of the new legislation affecting Real Estate Agents in New Zealand. It can also safe guard you from any claims against your Professional Indemnity Insurance. It is a practice in our office to keep file notes on all conversations. :)

: Property Conveyancing News, Uncategorized
: , , , , , , , , ,

Code of Compliance Certificates

0
October 7, 2009

A Code of Compliance Certificate is issued by Council when the Council is satisfied with any building works to a property have been completed under the consent complies: – The New Zealand Building Code at the time of issue of the building  consent (for consents issued prior to 31/3/2005) or the building consent for consents issued from 31/3/2005. Once the Code of Compliance Certificate has been issued it will be recorded on any LIM Report and on the property file held by Council. For building consents issued from 31/3/2005 projects should be completed within 2 years of the granting of the building consent. If the works do not comply the Council will issue a notice to fix identifying areas of non-compliance. What are the benefits to you the property owner?

  • Selling your home.
  • Applying for loans or other financing.
  • Applying for insurance.
  • Safety and peace of mind.

Before undertaking any project contact your Local Council about the process.

Happy renovating.

: Uncategorized
: , , , , , , , , , , , , ,
Albizia Theme designed by itx