Why Choose us?


1. We are  loan experts with twenty five years of  bank experience in home and commercial lending.

2. We make your loan raising exercise hassle free.

3. We can examine and restructure your loan, cutting years off your mortgage and save thousands of dollars.

Welcome to New Zealand’s favourite Mortgage Website
In current scenerio, where banks change their  lending policies every other day, raising a home loan, business loan or commercial property loan and getting a good deal is a complictaed exercise.  That is why you need services of an experienced financial adviser who has up to date knowledge of lending industry, understands lending criteria in depth and can arrange best offer for you while you relax at home.
Our experts at Cherry Mortgage Solutions with wealth of knowledge and extensive experience (20 years as Bank Manager in New Zealand, U.K/overseas) take stress and confusion out of your loan hunting exercise and make it a simple and easy process. We fully understand, every borrower has a unique situation and work accordingly.

With our strong relationship with lenders we can arrange home or residential investment property loans even upto 90%. We also arrange business loans and commercial property loans at most competitive terms and interest rates.

We take special care of first home buyers, and guide them at every step of home buying process. Our solutions for your mortgage or Business Loans are designed around your unique situation and needs. We also examine for free, your current loan structure and if needed restructure it which can make you pay your loan faster and save many thousand dollars.

Cherry Mortgage are one stop solution for both your loan and insurance needs. We cover all your risks by suitable insurance covers like, life cover, trauma cover, income protection, mortgage protection and medical cover from a range of prominent insurance companies at most competitive prices and take over all hassles of related paperwork.

Contact us on 09 625 3800 or
enquire online and we will make it a stress free pleasant experience for you. We are available all seven days of week and can come over to you.
90% Home Loans at Cherry MortgageLatest on Cherry Mortgage

July 24, 2014

Reserve Bank of New Zealand raises OCR to 3.50%


The Reserve Bank today increased the Official Cash Rate (OCR) by 25 basis points to 3.5 percent.

New Zealand’s economy is expected to grow at an annual pace of 3.7 percent over 2014. Global financial conditions remain very accommodative and are reflected in low interest rates, narrow risk spreads, and low financial market volatility. Economic growth among New Zealand’s trading partners has eased slightly in the first half of 2014, but this appears to be due to temporary factors.

Construction, particularly in Canterbury, is growing strongly. At the same time, strong net immigration is adding to housing and household demand, although house price inflation has moderated further since the June Statement.

Over recent months, export prices for dairy and timber have fallen, and these will reduce primary sector incomes over the coming year. With the exchange rate yet to adjust to weakening commodity prices, the level of the New Zealand dollar is unjustified and unsustainable and there is potential for a significant fall.

Inflation remains moderate, but strong growth in output has been absorbing spare capacity. This is expected to add to non-tradables inflation. Wage inflation is subdued, reflecting recent low inflation outcomes, increased labour force participation, and strong net immigration.

It is important that inflation expectations remain contained. Today’s move will help keep future average inflation near the 2 percent target mid-point and ensure that the economic expansion can be sustained. Encouragingly, the economy appears to be adjusting to the monetary policy tightening that has taken place since the start of the year. It is prudent that there now be a period of assessment before interest rates adjust further towards a more-neutral level.

The speed and extent to which the OCR will need to rise will depend on the assessment of the impact of the tightening in monetary policy to date, and the implications of future economic and financial data for inflationary pressures."

 Cherry Newsletter July 2014

   Current Mortgage Interest Rates* as on 7th July 2014

Variable                      5.70%
6 Month Fixed             5.35%
1 Year Fixed                5.45%
2 Year Fixed                5.75%
3 Year Fixed                5.99%

4 Years Fixed               6.35%
5 Year Fixed                6.60%
*Conditions apply

These are not published rates of the banks. But Cherry Mortgage will be able to get you above interest rates and may be   even better if loan amount is high and subject to certain other terms and conditions


Economic Outlook

As per New Zealand Institute of Economic Research(Inc.) (NZIER) consensus forecast, economic growth is tipped to accelerate from an estimated 3.1% in the March 2014 year to 3.8% in the coming year. Growth will moderate in future years, but remain positive. The recovery is broad: across household spending, investment and exports.

The recovery will translate in to more jobs and a pickup in wages growth. Living costs will also rise, as will interest rates. Rising interest rates and a positive economic outlook will keep the NZD elevated through the next three years.

 New Zealand business confidence slid this month and rising interest rates have been the culprit. The high currency, lower dairy and forestry prices and a levelling in the property market are also being cited as economic downers. A net 43 percent of respondents in the ANZ Bank Business Outlook survey for June expect general business conditions to improve in the year ahead, down from a net 54 percent in the previous month's survey.


Interest rate Scenario

With economy continually doing well and economic forecasts indicating better economic growth, RBNZ will continue increasing OCR(Official Cash Rate)  to contain inflation and rising  housing prices. It is expected to raise OCR again on 24 July 14 in its review. Thereafter OCR is expected to remain unchanged till December 2014 and then again the process of increase by 25 basis points is to restart  and continue till it OCR goes up by  further 100 basis points. Official Cash Rate is expected to be 5.25% by December 2016.

Banks have been making their strategies to attract new home loan clients and to   keep existing borrowers tied up with them as much as they can. In this process, recently, short term rates were increased by some banks and long term rates eased. However, two year and three year rates when strongly negotiated are still very attractive. New Zealand banks can  easily borrow cheaply on international markets because they were stable and credit available in international market was plentiful.

A cash offer war is also going on amongst banks. For a loan of 100K, banks offer a cash contribution of 2000 and  for loan of over 250K, 3000 dollars. A wise decision as which offer you should take is to consider both interest rate and cash offered in totality. Talk to us if and we can tell as what best offer is available for you.

Auckland Housing Prices

Auckland house prices continued to rise in June, according to the region's largest real estate agency Barfoot and Thompson, but the supply of homes for sale remained tight. Average price of the 1037 homes it sold in June was $714,054, was up 1.6% on May and its second highest average monthly price ever. The average sales price has now risen by 9.9% over what it was in June 2013

While sales volumes were still below the level seen before the Reserve Bank's low-deposit restrictions came into effect in October, they did not appear to be falling any further.

A region-wise analysis by QV Valuations reveal: The Auckland region as a whole has increased 2.7% over the past three months and 12.3% year on year.  Manukau East is up the most with values increasing 4.3% over the past three months. Followed by the North Shore – North Harbour where values have risen 4.2%. While in Waitakere City values rose 2.3% over the same period.

Picking the direction of the housing market over the coming year or two is difficult. On one side are the LVR restrictions and rising interest rates and on the other side there is very strong migration inflows, particularly in Auckland, and a level of  housing supply that has risen only marginally since mid-2013.

Some economists forecast housing prices will continue to rise for some years more at least till housing shortage exists but with new developments coming in, price growth may slow down.


Business and commercial lending

Getting loan for buying a business or commercial property has never been as easy as for buying your home. This is because of higher inherent risks in business loans and commercial property loans.

Banks are keen on growing their business and commercial lending portfolio but at the same time they want to ensure that the money lent, comes back.

Cherry Mortgage Solutions Ltd

P O Box  27 - 070 Mt. Roskill
Auckland 1440
New Zealand

Ph  : 09 625 3800
Fax : 09 625 3801
(M) : 021 82 7575
Email: info@cherrymortgage.co.nz

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