Home loan pre-approval

New Zealand has come down in interest rates when buying property and banks are giving at a rate of 3.55% for a fixed year term. This decreasing trend in interest rate is having more and more kiwis wanting to either buy a first home or even invest in more properties. Before we step towards buying a house, we need our home loan pre-approved. Pre-approval will give us a strong starting point when you start your house hunt and when you know how much a bank is able to lend, you will be able to look for the right property.
The pre-approval you will get will be conditional, but it gives you head start for finding your ideal home quickly. The process involves quite a bit so it might pay to get a mortgage broker to do it for you or simply have the bank do it for you. Different people prefer different and most of us want the most we can borrow from the bank so that you can buy your dream home. So, what exactly is the process for a home loan pre-approval.

Pre-Approval?
So, what is pre-approval? In basic terms it confirms a certain amount of money you can borrow from the lender. The conditions set out are a rated valuation of the home you will be buying and followed with the copy of signed sale and purchase agreement after the offer process has been accepted. Pre-approval will be valid for a period of 90 days and which normally is a good period of time for buying a home.

Getting the pre-approval
If you have a mortgage broker, then he/she will basically fill in all the required forms and provide everything to the bank to get a favorable outcome for your home loan. This can also be done by contacting the bank by yourself. The required document you will need are listed below.

– Income is shown by presenting payslips of 3 months and prove you have regular income coming in. If you are self-employed then you will need to provide financial statements, and this should be done by your accountant.
– Debt will also be shown to the bank and this includes credit card, store cards, any overdraft etc. This will show how much and when are you expected to pay it by.
– Expenses also need to be shown to the bank so that they know exactly how much is being payed out and that you could repay the payments for the loan you will be borrowing. Your expenses will include the following, financial commitments, household costs, debt repayments, child support and any other outgoing expenses.
– Deposit that you will be making from your bank statement, KiwiSaver withdrawal, or any proof of gifted amount.

These are the main things you will provide alongside your ID, Proof of address, Bank statements for the past 6 months and bank account detail. The bank requires you to provide as much as possible for them to make a favorable decision to your home loan. This is where your mortgage broker comes in handy and they will make sure they present the bank with the required documents and get the home loan pre-approved. This is easier than doing it yourself and it assures you that you will get a better outcome from it.

So, you might think that you do not meet all the requirement for the pre-approval and not take the next step towards buying your dream home. Before you quit just talk to a mortgage broker and let him/her figure out if it is possible for you to get the pre-approval or not and then decide. Happy moving everyone…

Hardwood or Laminated Flooring?

Carpets are old news as the new trend is to have Hardwood floor or laminated floors for your house. But the question arises as to which is better? Hardwood/Laminated? The easiest answer is yes hardwood flooring is better quality and very durable. Both flooring types do have their own benefits when it comes to selecting the type of flooring that will best suit your individual needs.

So what is laminated flooring?
The word laminate speaks for itself and the material used for the laminate floor is fibreboard. Fibreboard is coated on the very top of its surface with the choice of designed pattern that makes it look either like the hardwood floor or another type of material. The durability of this is topped up with a wear resistant layer that makes it long lasting.

Laminate flooring has its own benefits. It can be installed as a floating floor, which means that it will not require any fasteners or glue that will attach it to the surface. The laminated floor planks are connected together when laying them down as a floating floor. This makes it much more easier then laying down hardwood flooring as that requires much more skill and hard work. Laminated floor also comes with a factory finish and does not require any finish or recoating. It come’s prefinished packed into boxes with guidelines and can be done on your own just like another DIY project at home.

Laminate flooring is slightly a cheaper option due to its production, material and ease of installation, but obviously that also has its downsides.

Hardwood Flooring?
Hardwood flooring can come in its purest form which is totally 100% wood and also comes in factory finished or engineered wood with comes with a plywood base. The pure 100% hardwood floor has the most benefits and can’t be matched by factory finished or engineered wood.

Premium hardwood flooring assures that it is very long lasting and can last for decades. Laminate flooring is only good for maybe 10 years! Hardwood floors can last a lifetime if looked after properly and very well maintained. If the floor does become scratched all over and bumps in it from the heels you wear around at home then it is just as easy as sanding it down a layer and recoating! This will give you a brand new look and hence very long lasting.

All these benefits that the hardwood flooring has to offer come at a price when installed originally. It takes great skill and dedication to get the flooring installed and finished. Don’t worry the price you will pay for it to be installed will be covered by the increase in the value of your home and that is for ever. As long as the hardwood flooring is in a decent shape it is bound to increase the resale value of any property. You can think of it as an investment opportunity.

This should answer most questions you might have for the flooring choice between laminated or hardwood. Both the types have their benefits and also negatives. It comes down to what you actually need it for. If you are in a hurry and don’t have the budget then laminated flooring would be the best choice. If you do have the time and the budget then go for the hardwood flooring as it will last much longer and will repay its value when you decide to sell. Both choices are not bad and both types will give your property a nice clean look. The choice is entirely yours.

Happy Moving Everyone 

Beginners Guide to Moving in Auckland

We often receive enquires from customers who have no previous moving experience or haven’t moved in a very long time.

If you fall in either category, this guide may help .We’ve complied a list of things to consider or discuss with us:

  1. Do you need assistance with partial or full packing or unpacking? If there are any items or areas which you specifically need packing with (such as artwork or fine china), we can usually fit in a partial pack on the same day as your house move or a day prior.
  2. Let us know about access or parking issues at BOTH sites- things such as overhanging tree branches. telephone cables or narrow driveways can result in a costlier move if not matched with the right size truck.
  3. Oversize items such as double door fridges, pianos or spas need special handling with equipment and extra men, best to let us know in advance so we come prepared. If items need to be hoisted over balconies, we usually have to bring extra long straps and 3 or 4 men so advance notice helps with planning.
  4. If you’re settling houses, its best to allow the full day for the house move or at least budget for it. We come across settlement delays every Friday and this can easily add hours to the bill unfortunately. We recommend speaking to your solicitors ahead of time to arrange access to the garage of your new home to allow us to unload whilst settlement is taking place – this can save hundreds off the bill. If you’ve got concerns over settlement falling through, talk to us and we can pre-arrange storage as a contingency.
  5. If you have valuable items which you have concerns over, talk to us about transit insurance options. We can usually provide you a quote within 24 hours.
  6. Need packing boxes? We can provide free advise on the right type if packing materials to use of you are self-packing and can arrange delivery of these items with 2 business days throughout Auckland.

For any more questions you might have, feel free to call The Moving Squad – Auckland’s Expert Movers and Packers. We specialise in home and office removals, storage and any other furniture removal requirement you have. Read more about our services here.

auckland movers

Quick Energy Saving Tips for Winter!

The only thing which stings more than the winter chill is the winter energy bill” – Shane, The Moving Squad.

Here are some quick energy saving tips which can save your family hundreds in power bill this winter:

energy saving tips

For more handy tips, visit Energywise.

 

Top eateries you must check out in Auckland.

We often move clients who are new to Auckland and get asked to recommend a good eatery or restaurant to unwind after a day moving (its the last thing anyone wants to do is cook after moving!)
Take a look at Metro magazine’s Top 50 restaurants in Auckland 2016 for award-winning Auckland restaurants and top notch food. Whether you’re heading out for a tasty brunch, business lunch or a romantic dinner, these Auckland dining spots are sure to satisfy. Check the list out list out here. We also recommend the Tasting Shed out in Kumeu with is worth the extra-drive time! Enjoy!
auckland eateries moving squad

Some uber cool Auckland companies we recommend!

Whether your packing on our own, looking at a storage company or looking at getting upholstery refurbished, it can be hard finding the right supplier who will go the extra mile to help out with expert advice.

If you’re after some packing materials on short notice, we recommend trying out your nearest Warehouse Stationery. They have branches all over Auckland and while the quality of their packing materials isn’t really professional grade, it’ll still cut the mustard and the price ain’t to shabby either.

Storage King is a great option if you’re after packing supplies on short notice and don’t mind forking out a little extra for professional grade materials. Otherwise speak to our team today on 0800 086 683 to order them directly through us and save yourself a fortune off retail rates. On a side note, these guys usually have mattress covers in stock which can come in handy if you’re unlucky enough to be moving on a rainy day.

For a quick storage solution in a brand new facility close to our depot, we STRONGLY recommend using Spacemax in Henderson. Their team is a cut-above being a family run operation and they’re genuinely focussed on exceptional customer service.

Need leather refurbished? You can’t go past Fibrenew – not only are they ridiculously cheap, they do a flawless job with refurbishing or repairing furniture, and best of all – at the convenience of your home. Double the savings as you don’t have to pay extra for pickup and delivery.

Transit insurance is usually the most overlooked aspect of moving. Whilst we do have basic Carriers Liability cover in some instances, we strongly recommend trying out Ezimove for a more comprehensive cover. They’re specialist transit and moving insurance cover providers and partnered with Vero which have a good rating apparently.

Finally, we’d like to endorse Swanson Transport if you’ve got oversize items (think grand pianos or monster sized spas) going into tricky places. Their expert hiab operators together with our expert-er team of movers combine  to perform mind-blowing acts of pure awesomeness! Think Cirque Du Soleil!

Special thanks also to Moa Beer for providing the occasional beverages to finish off a successful moving day!

moving squad