Real Estate Agent

A person or Company licensed to negotiate and transact the sale or lease of real estate on behalf of the property owner.

Refinance

The process of paying off one loan with the proceeds from a new loan using the same property as security.

REINZ

Real Estate Institute of New Zealand. National representation body of real estate agents.

Reserve Price

The minimum price which a seller will accept at auction.

Resource Consent

Resource consents are necessary when a group or individual wishes to carry out an activity or development that may have some effect on the environment. Resource consents relate directly to the rules set out in the District or Regional Plans and the Resource Management Act and are different to Building Consents.

Revolving Credit

A home loan and transactional account in one. This allows for salary crediting and utilising all excess cash to reduce the mortgage principal. Having the ability to redraw up to the loans limit at any time, like an overdraft, without going through a separate application and approval process.