How one Kiwi couple hit freedom fast \u2013 without missing life\u2019s fun.<\/p>\n
When Hamilton\u2019s Jenny Cross looks back on the day she and her partner Steve became mortgage-free in just six years, she still can\u2019t believe it. <\/p>\n
\n \u201cI honestly thought we were going to be paying it off for
\n 25 years,\u201d she says. \u201cI always had this goal to be freehold by 50, and we just snuck in there. As well as doing a lot of fun stuff along the way.\u201d\n <\/p>\n
The \u201cfun stuff\u201d has included buying and selling a 32-foot launch, family holidays in the US and Australia, and motorbike tours through Vietnam, Mexico and Namibia. \u201cI\u2019m of the opinion that life is for living,\u201d Jenny says. \u201cAnd that you\u2019ve got to make memories while you can.\u201d<\/p>\n
Jenny, now 55, thought she knew mortgages after more than 20 years working in a bank. But arranging theirs through NZHL, and being supported by mortgage mentor Blair Miller, totally changed the game for her and Steve. <\/p>\n
Their loan was structured with a mix of fixed and floating rates, with their savings accounts linked to their mortgage to save as much interest as possible. The couple then concentrated on pouring as much money into the loan as they could. <\/p>\n
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\u201cYou could say we were reasonably frugal, but I never felt like we went without,\u201d she says. \u201cThere\u2019s a lot of stuff you realise you just don\u2019t need.\u201d<\/p>\n
She found the most powerful motivation from regularly logging in to NZHL\u2019s unique online debt management tool, DebtNav, which explicitly showed them the difference that a few extra dollars a week was making to the length of their mortgage.<\/p>\n
\u201cFrom the time Blair set us up with the loan, I was like a dog with a bone,\u201d she says. \u201cIt worked so well for us. The graph projecting our repayment date just kept coming down and down and down, and I just couldn\u2019t believe it.<\/p>\n
\u201cI can\u2019t sing the praises of the facility enough,\u201d she says. \u201cPeople think it\u2019s too good to be true, and that\u2019s a shame because it actually works. They say, \u2018You\u2019re so lucky\u2019 and I say, \u2018Well actually, you could do it too!\u2019\u201d<\/p>\n
Jenny and Steve took on their mortgage in 2014. As Blair explains, NZHL\u2019s smart loan structure \u2013 together with ongoing support from your mortgage mentor \u2013 can work for a wide range of situations. It\u2019s like having a coach in your corner, focused on helping you become mortgage-free faster.<\/p>\n
\u201cIt\u2019s really nice when Blair rings up and goes, \u2018Hey, well done,\u2019 Jenny says. \u201cIt was motivating to know somebody else had our back.\u201d<\/p>\n
Blair has been with NZHL for 16 years and says he\u2019s now helping former clients\u2019 children into homes. One of the highlights of his job, he says, is watching people realise they can actually pay off their mortgage \u2013 and then seeing them do it.<\/p>\n
Blair says it\u2019s \u201csuper rewarding\u201d helping people reach the moment of becoming mortgage-free. \u201cIt\u2019s especially satisfying because I know who they are, I\u2019ve met their children, their dog, I know the milestones they\u2019re trying to achieve, and I can help keep them on track.\u201d<\/p>\n
\u201cJenny and Steve were able to travel, buy a boat and build a campervan, and still pay down their mortgage faster than most people think possible,\u201d Blair says. He explains that results like theirs come down to having the right structure and support in place, understanding what\u2019s possible, and having a clear goal \u2013 giving people options they wouldn\u2019t normally get without personalised advice.<\/p>\n
Blair says mortgages can be tailored to suit each client. \u201cI\u2019ve helped people buy houses at 50 and 55 and become debt-free before retirement.\u201d<\/p>\n
Both Jenny and Blair have discovered that a popular misconception about NZHL is its offering is just another form of revolving credit. But Blair can\u2019t think of a single client over the years for whom he hasn\u2019t been able to save money.<\/p>\n
\u201cWe get a lot of people going, \u2018Oh, this looks too good to be true; I\u2019ve had revolving credits before, and they don\u2019t work\u2019. But that\u2019s where NZHL is different; the credit limits are always reducing which means you are actually paying off your debt.<\/p>\n
\u201cOnce people are onboard, they\u2019ll track their loan, see it\u2019s tracking as we planned and realise, they are actually making progress paying it off. They can\u2019t quite believe how easy it is and how it works without having to do a lot themselves, because the structure takes care of itself.<\/p>\n
\u201cSo many times early on, you hear from people: \u2018I\u2019ve got so much more money than I ever had before.\u2019\u201d<\/p>\n
For Blair, that\u2019s what it\u2019s all about \u2013 helping Kiwis like Jenny and Steve achieve their financial goals, without giving up the fun stuff along the way.<\/p>\n
See how much interest you could save \u2014 and how many years you could potentially shave off your mortgage \u2014 with NZHL\u2019s online calculator here<\/a>. Or, if you\u2019d like to learn more about how NZHL works, visit nzhl.co.nz<\/a>.<\/p>\n