 "Home Loan Frequently Asked Questions")
Frequently Asked Questions FAQs
What services does LENDI provide?
We specialize in home loans, business loans, insurance, and wealth management solutions tailored to meet your financial needs.
Q: How can I get started with LENDI?
A: Simply contact us through our online form or call us directly. Our team will guide you through the next steps.
Q: Do you work with all banks and lenders?
A: Yes, we have access to a wide network of lenders, including major banks and specialized lenders, to find the best solution for you.
Q: Is there a cost to use LENDI’s services?
A: In most cases, our services are free, as we are paid by the lenders.
Q: Do you charge for your services?
Our advice is free for most standard home loans, as lenders pay us once your loan is approved. If a fee ever applies (for complex lending), we’ll always tell you before proceeding.
Q: How much can I borrow for a home loan in New Zealand?
The amount you can borrow depends on your income, expenses, deposit, credit history, and the bank’s lending criteria.
Home Loan Frequently Asked Questions
Q: How much deposit do I need for a home loan?
A: Typically, a 20% deposit is required, but we can help you explore options with lower deposits, such as 10% or 5%, depending on your situation.
Q: Can I refinance my existing home loan through LENDI?
Absolutely! We can review your current loan and find better rates or terms to save you money.
Q: How long does it take to get approved for a home loan?
A: We can let you know your borrowing limit within 24 hours. Official approval typically takes 5 to 10 working days, depending on the lender and documentation provided.
Business Loan FAQs
Q: What types of business loans does LENDI offer?
A: We offer loans for small and medium businesses, including funding for equipment, operations, and expansion.
Q: What documents are needed to apply for a business loan?
A: Typically, you’ll need financial statements, proof of income, and a business plan. We’ll guide you through the requirements.
Q: Can startups apply for a business loan?
A: Yes, we work with startups to explore tailored funding solutions, even if they have limited trading history.
Insurance FAQs
Q: What types of insurance does LENDI offer?
A: We provide life insurance, health insurance, income protection, and general insurance for homes, contents, and vehicles.
Q: Can I bundle multiple insurance policies?
A: Yes, bundling can often lead to discounts and streamlined management of your policies.
Wealth Management FAQs
Q: Do you offer KiwiSaver advice?
A: Yes, we can help you choose the right KiwiSaver provider and investment strategy to maximize your retirement savings.
Home Loan Repayments – FAQs
Q. How do home loan repayments work?
Home loan repayments consist of principal (the amount borrowed) and interest (the cost of borrowing). Your repayments gradually reduce your loan balance over time.
Q. What’s the difference between principal & interest vs. interest-only repayments?
- Principal & Interest: You repay both the loan amount and interest, reducing your debt over time.- Interest-Only: You pay only the interest for a set period, keeping your loan balance unchanged.
Q. How often can I make repayments?
Most lenders let you choose weekly, fortnightly, or monthly repayments. Choosing weekly or fortnightly can help you pay off your loan faster.
Q. Can I make extra repayments on my home loan?
Yes, if you’re on a floating rate, you can usually make unlimited extra repayments. Fixed loans may have limits on extra payments or early repayment fees.
Q. Will making extra repayments reduce my loan term or interest paid?
Absolutely. Extra repayments go straight to your principal, reducing the interest you pay and shortening your loan term. Even small extra payments can make a big difference.
Q. Are there penalties for repaying my loan early?
If you have a fixed-rate home loan, repaying early or making extra payments beyond the allowed limit may incur break fees. Floating loans typically have no penalties.
Q. What happens if I miss a repayment?
Missing a payment may lead to late fees and impact your credit score. If you’re struggling, talk to your lender as soon as possible to discuss options.
Q. How can I refinance my home loan for better repayment terms?
If interest rates have changed or your financial situation has improved, refinancing can help lower your repayments or shorten your loan term. We can help you compare the best options.
Q. Can I change my repayment frequency or amount?
Yes, most lenders allow changes to your repayment schedule. Switching to fortnightly payments can help you pay down your loan faster.
Q. How do fixed and floating interest rates affect my repayments?
- Fixed Rate: Your repayments stay the same during the fixed term, making budgeting easier.- Floating Rate: Your repayments can change based on market interest rates, giving you flexibility to make extra payments.
Q. Where can I calculate my home loan repayments?
You can use our LENDI Home Loan Repayment Calculator to see how much your repayments will be based on your loan amount, interest rate, and repayment term.
Kāinga Ora First Home Loan – FAQs
Q: What is the Kāinga Ora First Home Loan?A: It’s a government-backed home loan designed to help first-home buyers with smaller deposits (as little as 5%) get into their first home.
Q: Who is eligible for a Kāinga Ora First Home Loan?A: You must be a New Zealand citizen or permanent resident, be a first-home buyer (or in a similar financial position), and meet income and house price caps.
Q: What are the income limits?A: For a single buyer, the annual income must be under $95,000. For two or more buyers, the combined income must be under $150,000 (before tax).
Q: What deposit is required?A: Only 5% of the purchase price, which can include KiwiSaver funds, savings, and gifts.
Q: Which banks offer Kāinga Ora First Home Loans?A: Participating lenders include Westpac, Kiwibank, SBS Bank, The Cooperative Bank, Unity, and a few others.
Q: Are there any fees?A: Yes, a one-time lender’s mortgage insurance premium of 1.25% applies, which can usually be added to the loan.
Q: What types of properties can I buy?A: You can buy existing homes, new builds, or land and build options—provided they meet the house price cap for your region.
Q: Can I use KiwiSaver for the deposit?A: Yes, if you’re eligible, you can withdraw from your KiwiSaver and also apply for the First Home Grant.
Q: How do I apply?A: You can apply through a participating bank or via a mortgage adviser like Lendi Financial who can guide you through the process.
Q: Who is eligible for a Kāinga Ora First Home Loan?A: You must be a New Zealand citizen or permanent resident, be a first-home buyer (or in a similar financial position), and meet income and house price caps.
Q: What are the income limits?A: For a single buyer, the annual income must be under $95,000. For two or more buyers, the combined income must be under $150,000 (before tax).
Q: What deposit is required?A: Only 5% of the purchase price, which can include KiwiSaver funds, savings, and gifts.
Q: Which banks offer Kāinga Ora First Home Loans?A: Participating lenders include Westpac, Kiwibank, SBS Bank, The Cooperative Bank, Unity, and a few others.
Q: Are there any fees?A: Yes, a one-time lender’s mortgage insurance premium of 1.25% applies, which can usually be added to the loan.
Q: What types of properties can I buy?A: You can buy existing homes, new builds, or land and build options—provided they meet the house price cap for your region.
Q: Can I use KiwiSaver for the deposit?A: Yes, if you’re eligible, you can withdraw from your KiwiSaver and also apply for the First Home Grant.
Q: How do I apply?A: You can apply through a participating bank or via a mortgage adviser like Lendi Financial who can guide you through the process.
Investment Property Loans - FAQs
Q: What is an investment property loan?A: It’s a home loan used to purchase a residential property that you don’t live in – typically rented out to generate income or held for capital growth.
Q: How much deposit do I need?A: Most banks require at least a 30% deposit for investment properties. However, you maybe able to purchase a turnkey homes with as little as 10% deposit. Q: Are interest-only loans available for investment properties?A: Yes, many investors choose interest-only loans to reduce repayments and maximise cash flow. These are usually available for a fixed period (e.g. 5–10 years). Q: How do I get started? A: Book a consultation with Lendi Financial. We’ll assess your borrowing capacity, compare lender options, and structure the loan for maximum return and flexibility.
Q: How much deposit do I need?A: Most banks require at least a 30% deposit for investment properties. However, you maybe able to purchase a turnkey homes with as little as 10% deposit. Q: Are interest-only loans available for investment properties?A: Yes, many investors choose interest-only loans to reduce repayments and maximise cash flow. These are usually available for a fixed period (e.g. 5–10 years). Q: How do I get started? A: Book a consultation with Lendi Financial. We’ll assess your borrowing capacity, compare lender options, and structure the loan for maximum return and flexibility.
WHY LENDI FINANCIAL - FAQs
Q: Why should I use a mortgage broker instead of going directly to a bank?A: A broker gives you access to multiple banks at once, compares options for you, and negotiates on your behalf. Instead of you spending hours talking to different lenders, we do all the work and present the best options based on your goals, income, and long-term plans.
Q: What advantages does a broker give me?A: You get better choice, clearer advice, and stronger negotiation power. Brokers often have access to special bank offers, cashback deals, and policy exceptions that aren’t always available directly. You also get personalised guidance instead of generic bank advice.
Q: Do I pay anything for your service?A. Most home-loan advice is free for you. Banks pay the adviser once your loan is approved and settled. If any fee applies (rare), it’s always disclosed upfront so there are no surprises.
Q: Will using a broker affect my chances of approval?A: Yes — in a positive way. We know which bank fits your situation, income type, deposit, and credit history. Instead of applying blindly, we match your profile to the right lender from the start, improving your approval chances and reducing unnecessary credit checks. Q: Is my information kept confidential?A: Yes. Your details are protected under NZ privacy law. We only share your information with the bank once you give us written permission.
Q: What advantages does a broker give me?A: You get better choice, clearer advice, and stronger negotiation power. Brokers often have access to special bank offers, cashback deals, and policy exceptions that aren’t always available directly. You also get personalised guidance instead of generic bank advice.
Q: Do I pay anything for your service?A. Most home-loan advice is free for you. Banks pay the adviser once your loan is approved and settled. If any fee applies (rare), it’s always disclosed upfront so there are no surprises.
Q: Will using a broker affect my chances of approval?A: Yes — in a positive way. We know which bank fits your situation, income type, deposit, and credit history. Instead of applying blindly, we match your profile to the right lender from the start, improving your approval chances and reducing unnecessary credit checks. Q: Is my information kept confidential?A: Yes. Your details are protected under NZ privacy law. We only share your information with the bank once you give us written permission.
areas of service - FAQs
Q: Which areas do you service?A: We provide mortgage and financial advice across all of New Zealand. Whether you're in Auckland, Wellington, Christchurch, Dunedin, Hamilton, or anywhere in between, we can help you online or by phone.
Q: Do you offer in-person meetings?A. Yes, if you’re in Auckland we can arrange in-person meetings. Otherwise, Zoom/Google Meet works perfectly — most of our customers prefer it.
Q: Is your advice limited to certain banks in certain regions?A: No. We work with multiple NZ banks and lenders nationwide. Your location doesn’t limit your access to lenders or options. Q: Do mortgage brokers charge fees in New Zealand?A: Most mortgage brokers are paid by the lender, so their service is often free for clients.
Q: How many banks can Lendi work with?A: Lendi works with multiple lenders across New Zealand to find competitive options.
Q: Do you offer in-person meetings?A. Yes, if you’re in Auckland we can arrange in-person meetings. Otherwise, Zoom/Google Meet works perfectly — most of our customers prefer it.
Q: Is your advice limited to certain banks in certain regions?A: No. We work with multiple NZ banks and lenders nationwide. Your location doesn’t limit your access to lenders or options. Q: Do mortgage brokers charge fees in New Zealand?A: Most mortgage brokers are paid by the lender, so their service is often free for clients.
Q: How many banks can Lendi work with?A: Lendi works with multiple lenders across New Zealand to find competitive options.
Loan StructureQ: What is the difference between fixed and floating interest rates?A: Fixed interest rates stay the same for a set period, providing certainty in repayments. Floating rates can change with the market and may allow more flexibility for extra repayments.
Q: What is an offset or revolving credit mortgage?A: These loan structures allow you to reduce interest by linking your savings or everyday bank accounts to your home loan balance. The more savings you have, the less interest you pay.
Q: Can I pay off my mortgage faster?A: Yes. Many loans allow extra repayments, lump-sum payments, or restructuring options that can help reduce the interest you pay and shorten the loan term.
First Home BuyersQ: Can I use KiwiSaver to buy my first home?A: Yes. Most first-home buyers in New Zealand can withdraw their KiwiSaver savings to help with their home deposit, provided they meet the eligibility requirements.
Q: Can family help with my deposit?A: Yes. Many buyers receive help from family through a gifted deposit or family guarantee to support their home loan application.
Q: What government help is available for first home buyers?A: Some buyers may qualify for government support such as the First Home Loan scheme or using KiwiSaver savings toward their deposit.
Refinancing & Existing LoansQ: Can I refinance my mortgage to another bank?A: Yes. Many homeowners refinance to another lender to access better interest rates, cashback offers, or improved loan structures.
Q: What is a mortgage break fee?A: A break fee may apply if you exit a fixed interest rate early. This usually happens when interest rates have fallen since the loan was fixed.
Credit & ApprovalQ: Does applying for a mortgage affect my credit score?A: Yes. Multiple credit enquiries can affect your credit file. Working with one adviser can help manage the process more effectively.
Q: Can I get a home loan with bad credit?A: It may still be possible depending on the severity of the credit issue, your income, and your overall financial position.
Property QuestionsQ: Can I buy an investment property with a mortgage?A: Yes. Many investors use the equity in their existing home to purchase an investment property.
Q: What types of properties can banks finance?A: Banks commonly finance houses, townhouses, apartments, and new builds, although lending policies may vary depending on the property type.
ProcessQ: What documents do I need to apply for a home loan?A: Common documents include identification, payslips, bank statements, proof of deposit, and details of any existing debts or financial commitments. Q: How can I get help with my mortgage questions anytime?A: You can use the online chat on the LENDI website (lendi.co.nz) anytime if you have questions about home loans, refinancing, deposits, or buying a property in New Zealand. Our team is available 24/7 to assist you and guide you through the mortgage process. You can also apply online or contact us directly to speak with a mortgage adviser. Q: Why choose LENDI as your mortgage broker in New Zealand?A: LENDI is an independent New Zealand mortgage and insurance adviser that helps clients compare multiple lenders to find the most suitable loan options. We provide guidance on loan structure, interest rates, refinancing, and first-home buying. Our goal is to simplify the process and help clients secure competitive lending solutions across New Zealand. You can apply online, use our 24/7 chat, or speak directly with an adviser at LENDI. Q: Can I use an online calculator to estimate my home loan repayments?A: Yes. You can use the online mortgage calculator on the LENDI website to estimate your loan repayments based on the loan amount, interest rate, and loan term. This can help you understand your potential monthly payments before applying. Q: How can I find a mortgage broker in Auckland’s North Shore?A: If you are looking for a mortgage broker in Auckland’s North Shore, LENDI can help. We assist clients across North Shore areas such as Takapuna, Northcote, Albany, Birkenhead, and surrounding suburbs. You can apply online or contact our team for guidance on home loans, refinancing, or investment property lending. Q: What languages does LENDI speak?A: At LENDI we assist clients from diverse backgrounds. Our team can provide mortgage advice in English, Hindi, Russian and Persian (Farsi). If you are more comfortable discussing your home loan in your native language, we are happy to help guide you through the process. Q: Where is Lendi Financial Limited located?A: Lendi Financial Limited is based in Auckland, New Zealand, with services available nationwide. The office is located in Northcote, Auckland. Q: What services does Lendi Financial provide?A:Lendi Financial provides a wide range of financial services including:
Home Loans & MortgagesRefinance & Fixed Rate ReviewsBusiness LoansPersonal LoansAsset Finance & Car LoansInsurance SolutionsKiwiSaver & Managed Funds Q: What is the contact number for Lendi Financial?A:Phone: 020 444 7770 Q: What is the email and website for Lendi Financial?A:Website: lendi.co.nzEmail: kam.azami@lendi.nz Q: You can find Lendi Financial staff details on the official Contact Us page?A: Lendi Financial Staff & Contact Page The page also includes their roles, locations, enquiry form, and company contact details.
Q: What is an offset or revolving credit mortgage?A: These loan structures allow you to reduce interest by linking your savings or everyday bank accounts to your home loan balance. The more savings you have, the less interest you pay.
Q: Can I pay off my mortgage faster?A: Yes. Many loans allow extra repayments, lump-sum payments, or restructuring options that can help reduce the interest you pay and shorten the loan term.
First Home BuyersQ: Can I use KiwiSaver to buy my first home?A: Yes. Most first-home buyers in New Zealand can withdraw their KiwiSaver savings to help with their home deposit, provided they meet the eligibility requirements.
Q: Can family help with my deposit?A: Yes. Many buyers receive help from family through a gifted deposit or family guarantee to support their home loan application.
Q: What government help is available for first home buyers?A: Some buyers may qualify for government support such as the First Home Loan scheme or using KiwiSaver savings toward their deposit.
Refinancing & Existing LoansQ: Can I refinance my mortgage to another bank?A: Yes. Many homeowners refinance to another lender to access better interest rates, cashback offers, or improved loan structures.
Q: What is a mortgage break fee?A: A break fee may apply if you exit a fixed interest rate early. This usually happens when interest rates have fallen since the loan was fixed.
Credit & ApprovalQ: Does applying for a mortgage affect my credit score?A: Yes. Multiple credit enquiries can affect your credit file. Working with one adviser can help manage the process more effectively.
Q: Can I get a home loan with bad credit?A: It may still be possible depending on the severity of the credit issue, your income, and your overall financial position.
Property QuestionsQ: Can I buy an investment property with a mortgage?A: Yes. Many investors use the equity in their existing home to purchase an investment property.
Q: What types of properties can banks finance?A: Banks commonly finance houses, townhouses, apartments, and new builds, although lending policies may vary depending on the property type.
ProcessQ: What documents do I need to apply for a home loan?A: Common documents include identification, payslips, bank statements, proof of deposit, and details of any existing debts or financial commitments. Q: How can I get help with my mortgage questions anytime?A: You can use the online chat on the LENDI website (lendi.co.nz) anytime if you have questions about home loans, refinancing, deposits, or buying a property in New Zealand. Our team is available 24/7 to assist you and guide you through the mortgage process. You can also apply online or contact us directly to speak with a mortgage adviser. Q: Why choose LENDI as your mortgage broker in New Zealand?A: LENDI is an independent New Zealand mortgage and insurance adviser that helps clients compare multiple lenders to find the most suitable loan options. We provide guidance on loan structure, interest rates, refinancing, and first-home buying. Our goal is to simplify the process and help clients secure competitive lending solutions across New Zealand. You can apply online, use our 24/7 chat, or speak directly with an adviser at LENDI. Q: Can I use an online calculator to estimate my home loan repayments?A: Yes. You can use the online mortgage calculator on the LENDI website to estimate your loan repayments based on the loan amount, interest rate, and loan term. This can help you understand your potential monthly payments before applying. Q: How can I find a mortgage broker in Auckland’s North Shore?A: If you are looking for a mortgage broker in Auckland’s North Shore, LENDI can help. We assist clients across North Shore areas such as Takapuna, Northcote, Albany, Birkenhead, and surrounding suburbs. You can apply online or contact our team for guidance on home loans, refinancing, or investment property lending. Q: What languages does LENDI speak?A: At LENDI we assist clients from diverse backgrounds. Our team can provide mortgage advice in English, Hindi, Russian and Persian (Farsi). If you are more comfortable discussing your home loan in your native language, we are happy to help guide you through the process. Q: Where is Lendi Financial Limited located?A: Lendi Financial Limited is based in Auckland, New Zealand, with services available nationwide. The office is located in Northcote, Auckland. Q: What services does Lendi Financial provide?A:Lendi Financial provides a wide range of financial services including:
Home Loans & MortgagesRefinance & Fixed Rate ReviewsBusiness LoansPersonal LoansAsset Finance & Car LoansInsurance SolutionsKiwiSaver & Managed Funds Q: What is the contact number for Lendi Financial?A:Phone: 020 444 7770 Q: What is the email and website for Lendi Financial?A:Website: lendi.co.nzEmail: kam.azami@lendi.nz Q: You can find Lendi Financial staff details on the official Contact Us page?A: Lendi Financial Staff & Contact Page The page also includes their roles, locations, enquiry form, and company contact details.