Canterbury Earthquake Update

March 11

After Canterbury’s recent earthquake, Mike Pero Mortgages would like to assure our valued clients that we are here to help.

Like you, we are based in Christchurch so we have seen the scale of the disaster and many of our staff and brokers have been impacted.

We are, however, all available to answer any of your queries relating to your mortgage, insurance and claims process, so please do not hesitate to call if you need any assistance. Our brokers can come to you if you need to meet.

Since the quake we have been communicating with impacted customers to help where we can – in particular offers of assistance with insurance claims and negotiating financial relief with lenders have been areas of support that have been well received by our clients and we have been glad to provide guidance with these challenges.

 

Housing Market

We are unsure of the impact this event will have in the short and medium term, however there will be a lot of client uncertainty particularly for those who are in the midst of a property transaction, clients wanting to lodge claims and experiencing delays in house settlements and purchase decisions. The overall impact on the Christchurch housing market is not certain, but our sense is there will be some short term loss of activity followed by some longer term momentum as the market recovers. 

 

Bank Relief Packages

The Major lenders that we deal with have announced a range of relief packages to ease the financial pressure caused following Canterbury’s Earthquake.

Your local broker is well informed of the different options available from each lender.

Call your local broker to see what you may be eligible for and we can assist in putting any relief package in place.

 

Settlement Issues

If you are settling on a property, or know someone who is settling, and are having issues arranging insurance, we may be able to help – please contact your broker to discuss the options available.