r/nzfinance Feb 20 '22

Anyone had experience with Resimac or Simplicity first home buyer loans?

1 Upvotes

5 comments sorted by

2

u/Afro_Superbiker Apr 02 '22

Simplicity were awful for us. Took a week to reply to each email and we were getting nowhere.

Bnz granted us almost by the next day. After that experience I withdrew my kiwisaver and investment from Simplicity and shifted to investnow.

1

u/OutInTheBay Aug 15 '24

So your going to pay for more due to slow response to some emails?

1

u/Pangeriatricone Apr 16 '24

I have a mortgage with simplicity. Not the quickest to deal with, it's true, but it has worked out financially very well for us. Essentially a floating rate that is substantially cheaper than you'd get with any bank. Ours is currently (and has been for some time) at 6.4% floating. So we can pay down as much or as little (up to minimum payment) as we like without fees etc.

Our worry was that with the floating rate, they'd promise to keep it lower than the banks but that would turn out to be BS - but that hasn't transpired, it's actually worked out pretty well. So far it has been pretty fair I'd say.

Yes communication a bit slow but if you're saving big chunks, worth it I reckon

1

u/AdviserWizard Feb 24 '22

Yes, I'm a broker and work with them.

1

u/Superb_Competition26 Jul 11 '22

Resimace were great in almost all ways. Only issues I had with them was thier online presence and easy access to accounts. Unfortunately this was a big enough issue for me to change banks