How much will this cost?

WealthHealth Ltd offers Financial Advice Services to clients, where we spend time analysing your financial objectives and financial circumstances and provide advice on this plus help you with ongoing advice for 12 months after settlement of the financial advice that was initially provided.

There are two primary methods of payment for our service, the most common is remuneration by commission which is where we are remunerated by the provider if implementation of our advice occurs.

• Fee Based: $2,750+GST which includes up to 10 hours work from WealthHealth Ltd
• Remuneration by Commission if available, subject to a commission clawback liability. (see Clawback Fee below)

If commission received is less than our standard fee base model, then a fee is payable for the difference between commission received and fee model.

How much can I borrow for a residential property?

Mortgage lending depends on a number of factors and there is no easy answer to this. It also depends if it will be your own home or an investment. We will work with you to understand your objectives and provide a strategy to achieve that.

How much deposit do I need to buy a house?

There has been a lot of confusion over this topic since the Reserve Bank brought in Loan to Value ratio restrictions. Some providers continue to offer low deposit mortgages from 5% of the property value, however this depends on how many low deposit loans they have done recently. The rules are that banks have to keep low deposit loans to a maximum of 10% of all of their loans approved over a certain period.

If you meet the first home buyer criteria, you may be able to get a mortgage with only a 10% deposit – see this link for more information about first home buyer criteria..

If you have a 20% deposit and you meet all other mortgage lending criteria, you are like GOLD to finance providers – they will all be chasing you and offering you significant sweeteners. Talk to us about who can offer you the best mortgage deal.

Can I refinance my current mortgage?

Yes you can. We will work with you to help you get the best deal available out of all of the major providers and recommend a mortgage structure that works for you.

How much insurance should I get?

We will always recommend the most appropriate level of cover for you and your family – to ensure that in the event of a catastrophe there is a plan B to protect you all! We can you through a range of ‘worst case’ scenarios, so you have complete control of the type of insurance cover you feel comfortable with.

Do I have to get insurance?

If you are getting a home loan then yes, you will need to have House Insurance, this will be a requirement from the bank. But no, you don’t have to have Life Insurance, Income Protection Insurance or any other insurance! Although it is not a requirement, we do highly recommend insurance to protect you and your family. As financial advisers, we can put together a plan for you, just contact us and let’s chat!

What banks and insurance companies do we work alongside?

For Mortgages (in no particular order): ANZ, ASB, BNZ, Westpac, Co-operative Bank, Sovereign, TSB, Pepper Money, SBS, Resimac, NZCU Baywide, Liberty, Avanti, Bluestone.

When it comes to Insurance companies, we research the providers based on Products, Underwriting, Pricing and Credit Rating – it is crucial that you simply don’t go with the cheapest as there are other important factors to consider. So for Insurances (in no particular order): Partners Life, AIA, Asteron, Fidelity Life.

What’s the difference between Personalised and Class Advice?

Personalised advice is where you receive advice from a financial adviser, and that adviser has either: taken into account your total financial situation, including your goals, attitudes towards investment risk, and then provides you with written advice appropriate to your unique situation OR the client would reasonably expect the financial adviser to do so in the scope of the advice they are receiving.

Class advice is everything else that is not personalised, including seminars, articles and any other general information.

Have another question?

We’re here to help – and our advice will cost you nothing. Just call or email us and ask away!