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New Zealand; a land of opportunity but not without risk.

01
No matter what background we have or what country we or our forebears come from, there is no doubt New Zealand offers opportunities to those prepared to work for them. This pioneering spirit in a modern world has become more often referred to as our entrepreneurial spirit…where grit and determination meets execution! We can spend time working for ‘the man', building our know-how and experience or we are already experienced business people from other places, and one day we think, ‘I could do this myself. Take my dream, start a business, (or start again), employ some help. I don't want an empire, I just want to work for myself and get a lifestyle out of it for me and my family.'

This attitude is so common that small to medium sized enterprises (SMEs) in New Zealand employing five or fewer people now number over 430,000, employing more than 560,000 people representing immeasurable worth to the national economy (GDP). But there's a threat lurking beneath these impressive statistics: research tells us that New Zealanders are underinsured compared with other countries, with only about a third of the investment other OECD nations put into protecting the livelihoods of the people producing this GDP. At GFS there is too often evidence that business owners, many of whom are the key person in the business, frequently lack some or all of the cover they need.

This is in part because many see insurance as expenditure rather than protecting their dream. One role of GFS is to show people than insurance is not a cost, but on the contrary a vital element of financial wellbeing. A second role is to provide products and services that facilitate that wellbeing.


The diagram shows all the parties at risk in ‘The Circle of Life'. The business is underpinned by its key people, who are subject to general life risks - accident or illness that could leave them temporarily or permanently unable to contribute to the business.

That financial impact flows on to the owner/s of the business (often also a key person), who is responsible for the debt, both visible and invisible. Some owners think they don't need business or key person cover because they don't see any outstanding debt - they wholly own the business and the business assets such as vehicles and so on.

However, that's just the visible debt. The cost of exiting is invisible - if you suddenly had to close the business, what would it cost you to pay all current utility bills, rates, holiday pay and other entitlements? What about your lease commitments too? Too often these issues can be overlooked.

Then there are the families; the people supported by the business. What does the owner's lifestyle cost? What about their staff's lifestyles? Who and what is dependent on the business, and what happens if that revenue stream drops or stops? But of course, ‘the circle of life' only completes because the business also is dependent on the very people needed to drive revenue.


The advice GFS offer their clients looks to deal with this value chain. Certainly, it is the responsibility of business owners and key people to seek advice to get the cover they need. But GFS bear equal responsibility, in that they must help to simplify this process and support their clients transfer of any financial liability they are uncomfortable with should a life risk event strike. Getting the insurance you need should not be complicated or expensive relative to the risks you face – Talk to GFS today about how they can help you.

Call 09 2555500 email insurance@globalfinance.co.nz

 

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Five critical points for negotiating the best mortgage deals in NZ

Written by Marie Dickinson on September 22nd, 2017.      0 comments

Looking for buying a first home in New Zealand? Need best mortgage rates? This blog can give you bit insights for negotiating the best mortgage deals in New Zealand. 

1) Know your Equity
Equity (Your share in your house) = Assets – Liability
Banks prefer customers with a strong equity for several reasons. 
Loans <60% over property value tends to receive better rates from some banks, however, banks do not always disclose your equity. As your partner, we can estimate your share in the property and tell you what offers you can potentially receive from the banks. Our unique Interest Saver Plan will enable you to pay off your mortgage faster while keeping it affordable and thus increase your share in your property.

2) Negotiate
Pit the banks against each other to see which bank offers the best mortgage deal. Appointing an advocate like us, with skilled negotiators, will ensure you receive the best possible rates and cash back proposition in the market.

3) Know your structure
Decide what structure you want at the start of the process. With tight lending criteria and reduced available funding, some banks prefer customers who choose to pay principal & interest on their loans compared to interest only repayments.  Deciding upfront how you will split your loan between fixed and floating and whether you will make principal and interest or interest only repayments may affect your rates and cash back. GFS can help you decide the best combination between fixed and floating rates that match your financial situation.  

mortgage-deals

4) Split your loans
Putting all your loans in one bank may affect the rate and cash back you get on your overall loan portfolio. Often, splitting the loan across multiple banks can increase your cash back amount and lower the interest rate you get. We keep abreast of the daily movement in the market and can suggest the combination of banks most suitable to your needs.

5) Deal with a broker
On a day-to-day basis, it may be difficult for you to take time off work and approach all banks to negotiate the best deal. A mortgage broker such as Global Finance has the knowledge and access to multiple banks and can do the legwork for you to negotiate the best mortgage deal in the market to suit your individual needs.
 

Who we are
Global Financial Services is a mortgage & personal risk advisory company.  We’ve been helping Kiwi families reach their dreams for 18+ years. We are highly respected, trusted & awarded mortgage brokers in Auckland, NZ.  Whether it is buying their first home, growing their property portfolio or buying a business or commercial property, GFS will advise you on how to pay it off faster by saving unnecessary interest.

We assist our customers to acquire that important insurance that protects a person or entity from extreme financial loss or liability due to an unfortunate emergency, accident or negative unforeseen event.

At our core is efficient, personal service and ongoing support because we have our customers ‘best interest’ at heart.

What we do

  • Mortgages
  • Business Loans
  • Commercial Loans
  • Interest Saver Plans - also known as restructuring plans these are tailored to you and targeted at getting you mortgage-free sooner, based on your capacity to repay your mortgage.
  • Insurances - Life, Trauma or Critical Illness, Total and Permanent Disability, Health, Income Protection, Mortgage Protection and Business Protection Insurance.
Scope of service

GFS take time to understand the needs and goals of our customers and tailor fit a solution to each one’s unique requirements.   We have experienced just about every type of scenario imaginable when it comes to lending which gives us the knowledge on how best to present each case to get the best possible financial outcome.  We partner with our customers on their journey in the following way:

  • We look after the transaction to make sure it goes smoothly so you don’t lose sleep over it.
  • We answer all questions and address all concerns for the life of the mortgage (and thereafter!)
  • We work to ensure you know everything there is to know about your mortgage, insurance, credit, and budget.
  • We ensure that a mortgage or insurance cover matches your specific needs and goals.
  • We work closely with respected lending and insurance institutions to ensure there are no issues. If there is, we work to ensure any issues get resolved so you don’t lose any sleep.
  • We help you at the time of an insurance claim and am proud to have a 100% settlement ratio in respect of life insurance.
  • Our services is FREE.  You don’t pay for our mortgage or insurance services because the banks and insurance companies pay us a commission once your loan or insurance is settled or drawn down. (T’s &C’s apply, for more information please ask for our disclosure statement)





 
 

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Services

  • Mortgage Brokering
  • Mortgage Restructuring
  • Insurance Brokering
  • Annual Mortgage and Insurance Review
  • Calculators
   

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