Smith and PartnersSINCE 1988
Property Law
 


Dear customer,

CELEBRATING 25 YEARSIt’s been a bumpy few months in the real estate market following the introduction of the LVR rules, but many areas of the market are still strong.

If you have buyers who are struggling to get a 20% deposit, you may want to suggest they consider a Welcome Home Loan. Underwritten by Housing New Zealand, these loans are not subject to the LVR restrictions and buyers only need a 10% deposit. Property Lawyer, Johann Rocha explains Welcome Home Loans, how they work and who is eligible in Welcome Home Loans – How to get a 10% mortgage.

Conversely, we’ve also noticed deals being rushed through in a hurry. When this happens, if either party wants to amend the agreement for sale and purchase, you’re often drafting clauses on the spot. In this newsletter, Partner Wade Hansen guides you through the process of drafting and how to ensure the clause you draft is easy to understand, and achieves the intended outcome.

It’s important to use only the most recent edition of the agreement for sale and purchase. The New Zealand Law Society agreement is regularly updated to reflect changes in the law.

Please don’t hesitate to call if you have any questions or if we can be of service to you or your clients.

Regards,

Pete, Greg, Wade & Ruth
hrzntl
“The team were extremely efficient in assisting me to get to the outcome that I wanted. They were able to take the pressure off me and only bother me with the big issues. An absolute pleasure to work with.”
– February 2014 Property Client
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  Real Estate Agent Law | Wade Hansen
Wade HansenDrafting better clauses
If you’re asked to draft a special condition or clause for an agreement, how do you make sure it achieves the intended purpose? Partner Wade Hansen explains the key points of how to write clauses that are clear, concise and achieve the intended outcome for the interested parties READ MORE »

   Property Law for your Clients | Johann Rocha
Johann RochaWelcome Home Loans – How to get a 10% deposit mortgage
It is still possible for buyers to access 10% deposit home loans outside of the LVR restrictions with Welcome Home Loans. There are strict criteria for who can apply, but those criteria can be met by many potential West Auckland buyers. This article on Welcome Home Loans can help buyers who are struggling with the new restrictions. READ MORE »

  
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All information in this newsletter is to the best of the authors’ knowledge true and accurate. No liability is assumed by the authors, or publishers, for any losses suffered by any person relying directly or indirectly upon this newsletter. It is recommended that clients should consult a senior representative of the firm before acting upon this information.

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