Other Ways We Can Help

Not only can we help you get that dream home by taking the stress out of getting a mortgage we can also:

  • Make sure your new home and assets are insured against loss
  • Arrange personal loans for the boat, the holiday or to consolidate debt
  • Help grow your wealth through other avenues such as KiwiSaver

We can also keep you up to date with what’s happening in the finance industry:

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At Edge Mortgages we specialise in Mortgages but we make sure that our clients have the ability to grow their wealth through other avenues as well.

We partner with a top KiwiSaver provider. If you are not in a KiwiSaver scheme right now or would simply like to make sure you are getting the most from your existing one then please let us know and we’ll make sure you are looked after.

What KiwiSaver Is

KiwiSaver is a voluntary retirement savings initiative with a number of generous government incentives, aimed at helping you save for your retirement.

Who can join KiwiSaver

Anyone can join KiwiSaver as long as you are under 65. If you are over 65 and already a member of KiwiSaver then you can transfer to a new scheme. You must be living in New Zealand, be a New Zealand citizen or have permanent residency.

Why You Should join KiwiSaver

It is important to save for your retirement.

Whatever you’re income amount or source we are all getting older and KiwiSaver offer numerous benefits in helping save for retirement.

There are generous government incentives on offer. $500 Kickstart and $521.43 Member Tax Credit per year.

  • Life expectancies are increasing and many of us are living well into our 80’s.
  • New Zealand Superannuation alone may not allow you to enjoy your retirement or continue the lifestyle you are currently used to. As at 1 April 2012 NZ Super was $348.92 per week, or $563.80 a couple (after tax).
  • If you’re hoping to maintain your current lifestyle when you retire you need to start saving now. If you’re earning a salary of $60,000 a year (pre-tax), you generally will need two thirds of your salary for each year of your retirement ($40,000) before allowing for inflation. NZ Super is only around $20,803 for an individual or $31,449.60 for a couple (pre-tax).

What You Will Get If Your Join KiwiSaver

$500 for joining. Everyone who joins KiwiSaver for the first time gets a $500 kick-start into their KiwiSaver account from the Government.

A 3% contribution from your employer. If you’re contributing to KiwiSaver from your salary or wages, your employer is required to put in a minimum of 3% of your Before Tax Pay (less employer’s superannuation contribution tax).*

Member Tax Credits of up to $521.43 every year. For every $1 you put in to your KiwiSaver scheme, the Government will put in 50 cents up to a maximum of $521.43 per year, if you’re 18 or over. This is called a Member Tax Credit.

First home withdrawal. If you’ve never owned a home, and you’ve been a KiwiSaver member for at least three years, you can take out all of the money both you and your employer have put in, as well as all of the investment returns, to help buy your first home.*

Up to $5,000 first home subsidy. On top of the first home withdrawal, if you’re eligible, you may also receive up to $5,000 as a subsidy from the Government towards your first home.*

Conditions apply, with changes from 1 October 2013. Visit the Housing New Zealand website for conditions.

Disclaimer: Edge Mortgages do not provide any KiwiSaver product but refer to a specialist who will provide you with the latest information and legal requirements around KiwiSaver. The information above is subject to change without notice.

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J & R Nunney

“I wouldn’t change anything. It was the first time I have used a brokerage service and everything about it was first rate.”

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Two and three-year mortgage rates predicted to rise

With this week’s expected increase in the Official Cash Rate (OCR), the third increase this year, it’s likely that banks will pass the increase on to fixed-term mortgage rates according to one mortgage broker.

John Bolton, principal of mortgage broker Squirrel says that banks have been competing away their two and three year fixed term margins to the extent that the next OCR increase is definitely going to get passed on in the one, two, three-year mortgages rates. Two-year rates would be above six per cent.

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Entry level properties hardest hit by LVR restrictions

Barfoot & Thompson’s Housing Market Update for May highlights a slowing property market, with sales volumes down 14 per cent compared to May 2013.

Most striking is that whilst total sales are down 14 per cent compared to a year ago, sales of property below $400,000 are down 50 per cent.

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Low deposit home loan numbers on the rise

The number of people buying homes with a deposit of less than 20% is on the increase.

Banks are prevented from lending more than 10 per cent of their new loans to low deposit borrowers, which they say initially resulted in a drop because people thought they would be declined a loan.

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