5 Unexpected Ways To Increase Your Deposit!

Everything Mortgage

English - April 19, 2022 12:00 - 5 minutes - 3.9 MB
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Mortgage Lab CEO Rupert Gough shares his top five tips to boost your house deposit.

"The first thing is look around your house and see what you can sell. It might be a spare car that you don't use anymore, just sitting down there on the driveway, slowly (or quickly) depreciating in value. It might be the camping gear that you went away once with and almost had a divorce over. It could be the mountain bike that you bought and took out to ride once. There's a tonne of stuff sitting around your house right now, that isn't being used and could be sold to increase your deposit. Grab a camera, take photos and list them on Trade Me. That money is just sitting there not being used. If you’re borrowing at 90%, $5,000 worth of old stuff you don’t use means another $50,000 of borrowing that is possible..."

You can watch a video on the same subject here: https://youtu.be/h5iL4NYuNbk

If you are unsure where to start or have any questions, don't hesitate to contact the team at mortgagelab.co.nz/contact-us, we're here to help.

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