Waikato Business News May/June 2023

8 WAIKATO BUSINESS NEWS, MAY/JUNE 2023
Riding the wave: Keeping your
cool as mortgage rates rise
About ten years ago, I decided I’d like to
be a half-decent surfer. So like all aspiring,
fresh-faced wave riders, I bought a board
and headed out to Raglan to get my fix
and learn my new sport.
But watching surf
competitions and being
out there in the waves
is quite a different thing - and
quite frankly, I wasn’t very
good.
A little like when purchasing
your first home and you’re
learning about the market,
deposits and interest rates, I
started to understand wave
patterns, learned to pick the
right ones for my skill level,
and built strength in my arms
for paddling.
There’s nothing quite like
picking up a pearler of a wave.
The sun is shining, your paddling
game is strong, and
you’re making subtle turns
in all the right places. I think
we’ve enjoyed conditions like
these in the housing market
over the past few years. Interest
rates are low, the market is
strong, optimism is high, and
things seem to come together
seamlessly.
But what happens when
these things change?
Interest rates have now
been on the rise for over a
year, and they’ve increased
the fastest they ever have. So
it stands to reason that after
the most recent rise, people
are feeling a little like they’re
on a wave about to dump them
on the ocean floor.
But, it’s not all doom
and gloom - we’ve been here
before, several times - and
now is a perfect opportunity
for homeowners to relook at
their financial situation.
With rising home loan
rates, reviewing your budget,
assessing your income and
expenses, and re-evaluating
your long-term financial goals
are essential. This helps identify
the right financing options
that suit your needs and
circumstances.
It's also important to seek
guidance from experts in
the field. Collaborating with
mortgage advisers, financial
BEYOND THE
BANKS
BY CLAIRE WILLIAMSON
Claire Williamson is a mortgage
advisor for My Mortgage
Company-X user
experience lead a
finalist in the Te Hapori
Matihiko Awards
forward with your goals.
There are also other levers
to pull in this space such as
interest only, or loan term
extension which can help
reduce the burden of higher
rates and free up more money
each week to meet the slightly
higher costs of living.
Prioritising debt reduction
is another critical aspect
of successful home ownership.
By paying off high-interest
debt such as personal
loans or credit cards, you can
free up more funds for your
home loan repayments and
ultimately reduce your overall
debt burden.
Maintaining an emergency
fund and setting a budget
to manage your money so
there are no surprises, is also
a really good idea. A savings
buffer can help you weather
any unexpected financial
challenges, such as job loss
or medical expenses. Budgeting
can reduce stress of the
unknown and helps you put
your best foot forward with
confidence.
So while the seas might be
a bit stormy right now, there
is sunshine on the horizon.
We’re expecting interest rates
advisors, accountants, or real
estate agents can offer valuable
perspectives on the market
and help you determine
the best course of action.
Exploring different refinancing
options can also be a
powerful way to secure a lower
interest rate, reduce your
monthly repayments, and ultimately
save you money over
the long term, and we’re working
with a lot of our clients
considering these options.
However, it's important to
weigh the costs and benefits of
refinancing before making any
decisions, and your adviser
will help ensure you’re moving to start levelling off towards
WAIKATO BUSINESS NEWS, MAY/JUNE 2023
the end of 2023, and from
there, we should see some
decreases in early 2024.
In the meantime, staying
calm, controlling what’s
within your sphere and
leaning on experts around you
will help you get through the
bumpier times.
And I’ll keep working on
my surfing technique, ready
for the next perfect wave.
Company-X user experience
(UX) lead Hohepa
(Cory) McKenzie has
been named a finalist in the Te
Hapori Matihiko Awards.
McKenzie is a finalist in the
Whiua ki te Ao (Take it to the
World) category for contribution
to global projects in digital
and tech.
McKenzie has been leading
UX design for US multinational
Cisco Systems Inc’s
Mergers and Acquisitions Hub
since 2021. The hub manages
Cisco’s acquisitions and its
integration process.
Company-X Software Engineer
Mark Nikora, who works
alongside McKenzie on the
project, nominated him for the
award.
Nikora said he was “over
the moon” that McKenzie was
a finalist.
“When you look at the
‘before UX design’ and then
the ‘after UX design’ versions
of things you can see the footprint
of someone who has a
deep drive for making a product
a success,” Nikora said.
“Meticulous. Understanding.
Passionate. It is a pleasure
to see Cory’s work.”
Company-X project technical
lead Jake Wilkinson said:
“Over the past two years, Cory
has played a pivotal role in revolutionising
the project’s digital
and tech landscape. What
began as a consulting position
for a brief period of three
months quickly transformed
into a full-time commitment,
as it became evident that
Cory’s remarkable skills were
indispensable for the project’s
success.
“Beyond his remarkable
technical contributions, Cory
has also revolutionised the
stakeholder engagement processes.
Through his ingenious
strategies, he has facilitated
simultaneous cross-continental
focus groups with various
levels of user groups. This
approach has not only streamlined
stakeholder feedback
but has also facilitated more
effective decision-making and
alignment across global teams.
“Cory’s exceptional contributions
to global projects in
the digital and tech domain
make him an outstanding candidate
for this award. His ability
to blend technical expertise,
innovative thinking, and
leadership skills has had a profound
impact on Cisco’s project
and the wider industry.”
Cisco group product manager
Chris DeMaio said: “I’ve
been working with Cory at
Cisco for roughly the past two
years. He’s got a great eye
for design and really understands
how to create component-based
interfaces that are
easy to use and offer value to
the enterprise. Cory’s ability
to deal with complex business
workflows, serving a wide
range of stakeholders, is amazing
to say the least.”
Company-X user interface
(UI) and UX consultant
Briana Christey said: “Cory
Company-X senior user experience lead Cory McKenzie, left, with software architect
Luke McGregor
has established a presence for
UX Waikato on LinkedIn and
co-organises regular group
meetups to connect, inspire
and support UX/UI designers
in the Waikato region, both
those who are well-established
in their careers, and those who
are just starting out.
“In the group, Cory is a
thought leader on industry
trends, design best practices
and resources. His wealth of
experience as a designer, coupled
with his real passion for
UX/UI, make him a valuable
contributor and mentor for
other designers in our region.
He regularly shares resources
such as design podcasts, articles,
and emerging tools and
technologies, and facilitates
conversations that enable
other designers to level up
their craft.”
McKenzie heard he was
shortlisted on Tuesday night.
Asked how he felt on Wednesday
morning he said: “Amazing.
Humbled. Still in shock.
I never thought I would be a
finalist for an award like this.
It just goes to show with the
right focus and attitude doors
open for you where you least
expect it.”
Matihiko Award winners
will be announced at a celebration
of Māori contribution to
digital and tech on July 7 at Te
Rauparaha Arena in Porirua.
There are 11 categories with
a Totara (leader) and a Tipu
(emergent leader) due to be
announced.