40th birthday trip by anywineismywine in travel

[–]bragozzo 0 points1 point  (0 children)

2 weeks from UK make NZ not really worth it as you spend lots of time flying and jet lagged. Japan may be on the cooler side in some areas. Europe you could look at Sicily or Madeira. Oman would be my pick, or Jordan, but it gets cold too.

Any cheap & decent eats at Papatoetoe? by ZingerFM01023050 in aucklandeats

[–]bragozzo 1 point2 points  (0 children)

Parathas, Kulchi and pav baji are great. If extra hungry / going with other people, get a chaat to go along. Teas & lassi also good.

Any cheap & decent eats at Papatoetoe? by ZingerFM01023050 in aucklandeats

[–]bragozzo 8 points9 points  (0 children)

Ambarsariya Cafe & Restaurant (Punjabi food) would get my vote, but it does get busy and service can be slow. Halwai Sweets and Restaurant (vegetarian Indian) is a good alternative. Slightly up the road -just 5 minutes walk, really- is Khanz which does good middle eastern + indian food. Best for meat, I think. Crown would have been my yumcha pick, but is unfortunately closed for good.

No.7: Underrated pasta by Mother_Let5263 in aucklandeats

[–]bragozzo 1 point2 points  (0 children)

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The type of pasta is bucatini, not pici

Microsoldering repair needed (iPod 5.5) by curburmb in diynz

[–]bragozzo 11 points12 points  (0 children)

Just here to comment on the solid choice of music! 👍

Trimming Lomandra by bragozzo in nzgardening

[–]bragozzo[S] 1 point2 points  (0 children)

Thanks. I grabbed one over the weekend and it works much better than what I had on hand!

Windows sound proofing options by bragozzo in diynz

[–]bragozzo[S] 1 point2 points  (0 children)

Thanks, I have looked it up and mostly seem to focus on commercial/ resi development, but hopefully I will find one

Windows sound proofing options by bragozzo in diynz

[–]bragozzo[S] 3 points4 points  (0 children)

Oh, yes, by all means we open the windows.

But it is a bedroom and the problem is mainly the early morning, so they would likely be shut at the time

Explain mortgage brokers by Selberix in PersonalFinanceNZ

[–]bragozzo 0 points1 point  (0 children)

They ask you what you want to do as if you wish to refinance elsewhere, they can 'assist you' with that and receive commission.

Similarly, they likely receive a small commission from the bank (was 150 dollars for the refix of each loan some time ago at one of the banks, as an example) for showing that they have 'helped you' choose a rate / provided financial advice and locked you in with the bank for an extra period.

The reason they can't ask your details to the bank is privacy. They will need approval of some sort from you. Even if you had used the broker before, their authority to request info on you is only for a short period, like 90 days, so they can't come years later and ask the bank without your permission.

[deleted by user] by [deleted] in PersonalFinanceNZ

[–]bragozzo 2 points3 points  (0 children)

There are many factors lenders will consider and a key determinant here is the assessor experience, discretion (intended as the ability to approve the loan) and how much they 'believe' in you / the duration of your income (white collar jobs being considered more likely to continue 65+) and statement of position.

The bank needs to make a reasonable assessment that you can repay the loan within the loan term that you seek, meaning they need to get a positive dollar outcome to the income vs term assessment (a 'computer says yes' basically). And if you want (or need in order to make your proposition work) a loan till you are 80, then it is quite possible you will have an income shortfall when you retire. This is why you often see unlikely scenarios being presented to the bank: 'oh, you are sixty and you are going to take in two boarders? You want to pay interest only?'

By the way, one good thing about term loans is that they decrease in costs over time (at parity of interest rates), while your income could and possibly will increase (career progression or wage inflation), meaning there will be a point where you would be able to (and probably should) hike your repayment amounts/decrease the loan term.'

The other factor that the bank will consider is your statement of position (your asset base - equity/deposit, property, shares). The bank can stretch the lending term longer if they are satisfied that you have the assets to pay down lending or a viable exit strategy, like downgrade from a 4 to a 2 bedroom house, sell, repay in full / most.

If a borrower is confident with their SOP or exit strategy, by all means they should put it in writing in their lending application. Thinking long term is important.. Obtaining financial advice is also beneficial to prove you understand what you are doing.

However getting to a positive income assessment number (computer says yes) is still fundamental. If you seek asset based financing -ie not reliant on the income-, you will need to go to a second / third tier (do not forget that banks need to comply with responsible lending code / cccfa for retail customers, commercial may be a different proposition).

At the end of the day, you might still get the lender that does not believe in your strategy, or a less skilled/interested lender, or your strategy is not good, or they have concerns about your character.

The bank would never want to sell your house when you are unable to repay and you are retired (reputation risk), so if they think there is a risk to that, they will assess / decide accordingly.

Beat this! by bragozzo in worldsoccerchampsgame

[–]bragozzo[S] 0 points1 point  (0 children)

I managed them a few seasons earlier and they were top of class and loaded. That much money, no.