That Home Loan Hub

• Property Inheritance: First-Home Buyer Dilemmas

  Property inheritance creates a surprising legal maze that many first-time home buyers don't see coming until it's too late. We dive into a listener's real dilemma when Jackie discovered her carefully laid plans to use KiwiSaver for her first home purchase might be derailed after unexpectedly inheriting property.The moment your name appears on a property title—even through inheritance rather than purchase—your legal status shifts from first-time buyer to existing property owner. This seemingly small distinction carries significant consequences, potentially blocking access to KiwiSaver funds you've been counting on for your deposit. We've seen multiple cases where people discover this roadblock years after inheritance, creating devastating financial surprises at the worst possible moment.We explore practical solutions, including immediately consulting a solicitor when inheritance occurs, investigating second-chance KiwiSaver withdrawal options, and ensuring property titles are strategically arranged. The episode also unveils the hidden but crucial role lawyers play throughout property transactions—from reviewing purchase agreements to managing your KiwiSaver withdrawal (which you'll never actually see in your personal account) to ensuring you're registered on the correct property title. As one cautionary tale reveals, some homeowners have discovered decades later they've been paying for the wrong property due to title registration errors!Have questions about inheritance, KiwiSaver complications, or the role of solicitors in your property journey? Connect with us on Facebook, Instagram, YouTube or TikTok. Your questions inspire our content and help fellow Kiwis navigate these complex waters. Share this episode with anyone facing inheritance or planning their first home purchase—it might save them from unexpected complications.Send us a text

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• Khounch Cares Ep #5 - When parents put their home on the line, is it worth the risk?

  Navigating family financial relationships can be tricky, especially when it comes to helping children purchase their first homes. Our conversation with mortgage advisor Khounch dives deep into the modern reality of parent guarantors - a topic that affects thousands of families trying to help the next generation onto the property ladder.The guarantor landscape has changed dramatically. Gone are the days when parents could simply sign a form to help their children secure a mortgage. Today, becoming a guarantor means parents must undergo the same rigorous financial assessment as the primary borrowers. This creates particular challenges for the "asset-rich but cash-poor" parents who own homes but may have limited income in retirement. We explore how lenders evaluate guarantor applications and what documentation is required.Financial benefits for first-home buyers with guarantors are significant. Access to preferred interest rates without low equity penalties can save thousands over the life of a loan. However, these advantages come with substantial risks for parents. If children default on their mortgage payments, parents' homes could be at risk of forced sale. This delicate balance between providing family support and protecting parental financial security requires careful navigation and professional guidance. Whether you're considering becoming a guarantor, asking your parents for help, or exploring alternatives, our discussion provides essential insights to make informed decisions about this increasingly common financial arrangement.Have you experienced the guarantor process yourself? We'd love to hear your story - reach out on our social media channels to share your experience and join the conversation.Send us a text

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• James Shares Ep #5 - Beyond the Budget: The Gap Between Financial Knowledge and Real-World Results

  The gap between knowing about money and actually managing it well is wider than most people realize. In this enlightening conversation with financial expert James, we unpack the crucial difference between financial literacy and financial capability—a distinction that explains why even finance professionals sometimes struggle with their personal finances.Financial literacy encompasses understanding concepts like budgeting, investing, and interest rates. But financial capability goes deeper—it's about consistently applying that knowledge in real-world situations. As James explains, "You could be working in a bank for 20 years and still be spending more than you earn." This capability gap affects people at all income levels, from those struggling to save for their first home to high earners who somehow manage to spend more than their substantial salaries.For those looking to bridge this gap, we explore practical steps toward financial capability. We discuss valuable resources from New Zealand authors like Martin Hawes, Mary Holm, and Liz Coe who provide locally relevant financial perspectives. James emphasizes the importance of setting clear financial goals, creating a functional budget, and regularly reviewing expenses—particularly those sneaky subscription services that drain your finances without delivering value. We also explore how modern banking tools can simplify the budgeting process by automatically categorizing your spending and highlighting areas for improvement.Whether you're just starting your financial journey or looking to refine your approach to money management, this episode offers actionable insights to help transform financial knowledge into real-world results. Listen now to discover how you can move beyond financial literacy to true financial capability—and take control of your financial future.Send us a text

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• Khounch Cares Ep #4 - Afterpay and Home Loans: The Hidden Connection That Could Cost You

  Navigating the path to homeownership involves more financial considerations than many Kiwis realize. While you're busy saving for a deposit and checking interest rates, something as seemingly innocent as your Afterpay account could be silently working against you.We dive deep into the world of Buy Now, Pay Later services – those convenient, interest-free payment options that have revolutionized how we shop. From Afterpay and Laybuy to ZipPay and newer entrants like Genopay and Klarna, these services have become ubiquitous in our daily spending. But here's the kicker: banks and mortgage lenders don't see these services as benign conveniences; they view them as debt commitments that directly impact your borrowing capacity.The reality might surprise you – even if you're diligently making payments and never incurring late fees, those regular BNPL transactions appearing on your bank statements tell lenders a story about your financial management. When these services are being used for essentials like groceries (yes, that's happening now!), it raises serious red flags about budgeting habits. We share practical advice on how to manage these accounts when applying for a mortgage, dispel some common myths about timing, and explain exactly what mortgage advisers can do to help present your application in the best light. Whether you're a devoted Afterpay user or occasionally dip into BNPL options, understanding their impact on your homeownership journey is essential knowledge for any aspiring property owner. Ready to make sure your shopping habits aren't derailing your property dreams?Send us a text

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• Transforming Financial Advice in New Zealand: A Conversation with Nick Hakes

  What makes financial advice truly valuable in today's world? Nick Hakes, CEO of Financial Advice New Zealand, brings global perspective and fresh insight into how advisors help Kiwis navigate their financial journeys toward better lives.Nick shares his fascinating journey from working in Australia's financial sector to Southeast Asia before returning home to lead Financial Advice NZ. His international experience offers unique comparisons between regulatory environments, highlighting New Zealand's principles-based approach as more conducive to delivering accessible, understandable advice without overwhelming documentation.The conversation delves into what distinguishes professional financial advice from simply walking into a bank. As Nick explains, advisors don't just manage money - they help clients articulate "what their good life looks like" and navigate both emotional and financial decision-making. This dual benefit results in clients being not just financially better off, but experiencing greater peace of mind and emotional wellbeing.We explore the industry's collegiate culture where advisors support rather than compete with each other, creating communities of practice that enhance everyone's skills. Nick outlines challenges in attracting diverse new talent to the profession while describing exciting initiatives like the upcoming National Advisor Conference and a groundbreaking collaboration with the Retirement Commission focused on financial capability education starting from school age.Perhaps most compelling is Nick's passion for making financial advice more accessible to all New Zealanders. His vision encompasses building pathways for the next generation of advisors while helping consumers recognize the value of professional guidance through life's defining financial moments. Listen now to understand how financial advice is evolving to meet the needs of modern Kiwis.Send us a text

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