Invercargill-based Mortgage Field helps you secure the right home loan, whether you are buying, investing or building
Buying for the first time, upgrading, downsizing, investing or building - these are all exciting stops on a property ownership journey. But finding the right mortgage for any of these events can be daunting.
Working with an experienced mortgage advisor can simplify the process. At Mortgage Field, we offer clear, tailored advice and help you make confident decisions about your home loan needs.
Contact us today to get guidance from an expert home loan broker, wherever you are on your property journey. We work in person with clients in Invercargill and Southland and online with clients across New Zealand.
Expert home loan advice that makes your property purchase simple and stress-free
- Personalised home loan advice for first home buyers to guide your journey
- Expert support for buying, investing, or building your next property
- Fixed rate reviews help you save money and secure your future
Based in Invercargill, servicing Southland and New Zealand wide
Help for first home buyers
Buying your first home is a big milestone. But it can feel like a daunting task, and arranging your mortgage is just one thing on a long list of to-dos. At Mortgage Field, we understand that - we've been there ourselves and we've helped many other clients get on the property ladder too.
Our team offers you expert home loan advice, answering all of your questions along the way in plain English. We'll assess your options, compare home loans and find the best products for your circumstances and then present them to you with clear advice.
With one of our advisors by your side, you'll feel confident taking the first step in your home ownership journey.
When applying for a home loan, you’ll need to prove to lenders that you can afford the repayments. Every bank has its own lending criteria, and that’s where we come in.
We’ll assess your financial situation to determine how much you can borrow, tailored to your goals. Then we’ll compare lending options from multiple banks to ensure you get the best rates and terms. At Mortgage Field, we have formal agreements with multiple banks and lenders across New Zealand. This gives us exclusive access to their home loan criteria, allowing us to apply for lending on your behalf and maximise your borrowing potential.
All banks require a deposit towards your home purchase. The minimum deposit varies between lenders, starting from as little as 5% depending on your financial situation and the type of property you’re buying.
- Standard Homes: Deposits typically start from 5%.
- Bare Land (Sections): Often require higher deposits.
- Lifestyle Blocks or Commercial Property: Deposit requirements can differ greatly depending on the lender.
If you are struggling for a deposit we may be able to find a solution that allows you to put down less money up front.
Your deposit can come from a variety of sources:
- Savings
- Sale of assets (e.g., selling a car or shares)
- KiwiSaver withdrawal (have you been a KiwiSaver member for at least 3 years?)
- Gifted funds (from immediate family)
- Deed of Acknowledgement (interest-free family loans, typically repayable upon property sale)
Getting a mortgage for a second property
At some stage in your life, you may consider buying a second property. For many people, that involves selling their current property and buying a new one - to move to a new area, size up to accommodate a growing family or to downsize.
But you may also buy a second property to:
- add a second residence in a different place to live in for part of the year
- act as a holiday home in your favourite getaway spot
- support family members like children or ageing parents, to have their own home
Although it may not seem as daunting as getting your first mortgage, applying for a second home loan can come with its own set of challenges.
For second mortgages lenders look at:
- Your debt-to-income ratio, to ensure you can support multiple loans and outgoings.
- How you have navigated your existing mortgage - for example, whether you have shown a regular pattern of repayments.
- Whether you have any equity in your current property that can be used towards your next purchase.
Home loans for investment properties
If you are planning for retirement or want some extra income, then investing in property can be a good solution. Investment properties offer you:
- passive income from the rental income
- the potential for capital growth if the property value increases and you sell
- potential tax benefits
-
diversification of your investment portfolio
Getting a mortgage for an investment property can be more complex than a standard home loan, so working with an advisor is a good idea. We'll provide tailored solutions for you and compare rates from multiple lenders. If you're a first-time investor, we'll explain every step and simplify the process for you.
Lenders will consider several important factors:
- Rental Income: Lenders may factor in expected rental income when assessing your borrowing capacity.
- Affordability and Risk: Lenders will assess your ability to manage additional debt, especially if you have existing loans.
- What equity you might have in your home.
Investment loans may have higher interest rates compared to home loans for owner-occupied properties. The deposit required for the purchase may also be larger - often 20% or more.
If you already own a home, you may be able to use the equity you've built up to finance your investment property. Equity is the difference between your home's current value and the remaining balance on your mortgage. We can help you calculate available equity and determine how much you can borrow against your current property.
New build home loans to help you into your dream home
When you are building a new home there's lots to think about - plans, council consent, tradies - so putting your new build home loan in the hands of experts gives you one less thing to stress about.
At Mortgage Field, we specialise in new build and construction lending, helping you navigate the complexities of different contracts and packages and managing drawdowns with your lender. We guide you through every step of your loan application offering expert advice for each stage of the process.
Depending on what you need the loan for, you may need two separate applications — one for purchasing land and another for the house construction. After the second application is completed, the first loan may be consolidated or eliminated.
Most New Zealand banks and non-bank lenders require you to commence construction within two years of settling your land purchase. While your home doesn’t need to be finished in that timeframe, construction must be underway.
Construction is typically completed in stages, with payments due after each milestone. Your construction contract outlines these payment schedules, ensuring transparency throughout the process. You’ll only be charged interest on the funds drawn down during each construction stage. This means your minimum repayments will vary based on the progress of your build.
Refixing your mortgage can create opportunities for saving or paying off your mortgage quicker
It's easy to fix a mortgage and then just keep paying it off without thinking about whether there's a better option. It's also easy to fall off the end of a fixed-rate mortgage term without thinking about it and simply roll onto a variable rate that might not be the best.
Our team can help you review your current mortgage and decide the best course of action.
Why should you review your mortgage?
- You might be eligible for a more competitive interest rate, freeing up extra cash for other goals or allowing you to use the extra money to pay off some of the principal amount.
- Life doesn’t stand still, and neither should your mortgage. If your circumstances have changed - perhaps you've started a family, got a new job or decided to downsize, then your home loan might need to change too.
We take the time to understand your circumstances and present you with the best options, either by negotiating with your existing lender or exploring deals with new lenders. Plus your review is free and comes with no obligation.