AIM Financial Services

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AIM Newsletter – June 2015

Property in AucklandHouse Prices Growth

The Auckland property market continues to be extremely active, with strong demand for property driving prices up to record high levels.

That demand is being partly driven by population growth, overseas investment interest, and low interest rates.

The Government and the Reserve Bank are anxiously trying to reign in the market, but in our view nothing will change much until the supply of new houses comes on stream.

Mortgage Interest RatesInterest Rates

Interest Rates are at record lows and banks are competing hard to get their share of new mortgages.  As a result they are prepared to discount significantly.

It is definitely worth finding out what we can get you in the way of interest rates, even if you are currently on a fixed rate.  Often the cost of a break fee is low compared with the savings you might be able to make.

I feel that we might be near the end of these low rates, so suggest you act quickly on this.

If you’d like to review your Interest rate, just send us an email, quoting your account number, and we’ll see what we can get for you.

Higher Deposits for Rental Properties

As from 1 October, the maximum loan amount for rental properties in Auckland will be 70%.  The law hasn’t been passed yet so we can’t be certain of the actual wording.

Until then, we presume that we are still able to borrow 80% on rental properties – so if you would like to increase your existing facility prior to October, please let us know.

It may well be worth getting a registered valuation to maximise lending prior to October.

Capital Gains Tax

The Government has indicated that from 1 October any property sold within two years of purchase will be subject to tax on any capital gain.

Again, we’re not certain of the actual wording of this, but it is designed to catch anyone speculating in property.

New Team Members – Mortgages

Mark MillerMark Miller

Mark has recently joined the mortgage team at AIM as its newest Registered Financial Adviser.  Mark comes to AIM with a focus on helping people achieve their financial goals, saving time, money and stress.  He is motivated, energetic and is particularly interested in using technology to streamline the entire home loan application process.

Contact Mark on (022) 183 5011 or email mark@aimfs.co.nz.

 

 

Waara VarleyWaara Varley

Waara Varley (also known as Toni Varley) has a background in property and law.  She worked for 25 years in two law firms becoming a conveyancing legal executive in 1992.  In 1999 she started mortgage broking and in 2006 she became a commercial real estate salesperson.  Recently she returned to mortgage broking with her mentor Kerry Alcock at AIM Financial Services.  Waara is completing a law degree at the University of Auckland.

Contact Waara on (021) 176 1821 or email waara@aimfs.co.nz.

 

 

Tahei SimpsonTahei Simpson

Tahei joined the team in January as an Associate Financial Adviser. Tahei worked as a legal executive for ten years and is studying law and statistics at the University of Auckland.  She has a passion for financial literacy education and getting families into their first homes.

Contact Tahei on (021) 507 073 or email tahei@aimfs.co.nz.

 

 

 

Insurance – Matt LewerMatthew Lewer

Matt Lewer has now been with the company for a year, and many of our clients have found it useful to have Matt review their personal insurances.  You may simply have the wrong cover, or be paying too much for what you have.  If you would like to meet with Matt just shoot us an email.

Contact Matthew on (021) 387 502 or email matthew@aimfs.co.nz.

 

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