Opes Partners, a New Zealand based property investment firm has released a new mortgage calculator that shows Kiwis the effects of changing the inputs to their calculator.
Opes Partners managing Partner, Andrew Nicol said "there are so many mortgage calculators online, so you might wonder why we built another one. When we looked at the mortgage calculators that were available online, we saw that many offered a 'one and done' approach."
He continues, "what I mean by that is that you put in your situation and then you get an answer, whether that's your monthly repayment, total repayment, or whatever data you are looking for. However, what we know from our research is that many people using mortgage calculators run multiple scenarios and want to see the difference that changing their interest rate, loan term or initial loan amount will have on their mortgage repayments. That's what our new mortgage calculator does."
Initial feedback from the mortgage calculator has been well received, and Nicol says that the company will further optimise the calculator as more feedback is received.