If you Google “Kumeu Mortgage Brokers” most of the mortgage brokers that show up in the search are not anywhere near Kumeu. There are a couple of brokers that work from their homes in the area and Stuart Wills from Mortgage Link who works a lot in the Kumeu area.
The Kumeu area has a lot of history and is so close to central Auckland too. Many people have visited the area for weddings, the Kumeu Show or the Classic Car & Hot Rod Festival but in recent years it has been identified as an area which is able to be developed to accommodate the growing Auckland population who are needing land to build homes on.
Kumeu Mortgage Brokers – Stuart Wills
My name is Stuart Wills and I lived on a small 3-acre (1.2ha) lifestyle block in Kumeu for 12-years until shifting to Hobsonville Point in 2015.
I have been a mortgage broker since 1997 and am well known as one of the most experienced Kumeu mortgage brokers.
In our time at Kumeu we did a lot of work to improve our property and did extensive renovations too. Of course we had to raise finance to purchase the property and then later raised additional finance for the renovations.
Understanding Kumeu & Surrounding Areas
It is important that a mortgage broker understands the Kumeu area as there are some things that certainly make it different to what many mortgage brokers and banker would typically deal with.
There are primarily three types of properties;
- Residential Homes
- New Builds
- Lifestyle Blocks
Getting finance for each type of property is a little different.
Residential Homes
Raising finance for residential homes is what most bankers and mortgage brokers do and understand. In most cases this is the simplest type of finance to do and it is easy to obtain a valuation for a residential house too.
New Builds
Kumeu is one of the fastest growing areas of New Zealand with a huge amount of land being developed for residential building.
Getting finance for building a new home is quite different to getting finance for an existing home and therefore you want to be sure that the person at the bank or the mortgage broker you use knows what they are doing, and most importantly has access to more than one lender.
Different builders and building companies all have slightly different building contracts and guarantees. There are fixed price building contracts, turn-key contracts and some builders are doing spec-houses which are sold as finished houses. If you need to get a home loan or borrow money then you need to ensure that the contract is acceptable to the lender and especially if you are a first home buyer and plan to take advantage of the HomeStart Grant.
Lifestyle Blocks
A lot of banks treat lifestyle blocks differently from the standard residential properties and especially if there is some income derived from the properties.
In many cases even if there is some income, any financials will show a tax loss and therefore from a financing perspective it is better to ignore the small amount of income and treat the property purely as a lifestyle property – like living on an extra large section with a few pets and garden.
If there is definitely a commercial business operating on the property which generates an income then it would be treated as commercial finance, but if the property could still be deemed as a lifestyle property we would try to get residential interest rates rather than commercial rates.
Contacting Kumeu Mortgage Brokers
North West Mortgages who trade as Mortgage Link have offices at Hobsonville so the advisers can easily look after people in areas like Kumeu, Huapai, Waimauku, Muriwai, Helensville, Riverhead, Taupaki and Whenuapai as well as the immediate surrounding areas of Hobsonville, Hobsonville Point, West Harbour, Westgate, Massey and Greenhithe.
CLICK HERE to find all the contact details for the best Kumeu mortgage brokers or phone 0800 100 939
