AI central to Loan Market’s future business
Within the next six months AI will be playing a pivotal part in the processing of mortgage applications for Loan Market.
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The benefits of outsourcing Virtual Assistants can’t be ignored
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More buyers with low deposits getting into housing market
Westpac says there are signs that more marginal borrowers are being drawn into buying homes.
Keeping a lid on house prices – housing supply outpaces population growth
Housing supply has overtaken population growth in the country’s biggest city Auckland and the capital keeping a lid on prices –another piece of good news for first home buyers.
Slumping house prices good news for first home buyers
Housing affordability is improving as house prices continue falling. QV’s House Price Index dropped 0.8% in the three months to the end of August and house prices are now 13.4% lower than the peak market value in January 2022.
ANZ pays millions to Crown for breaching FMCA
ANZ is coughing up $3.25 million to the Crown in lieu of a fine after admitting breaching fair dealing laws following an investigation by the FMA.
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Property News
Leaving last year's stumbling housing market behind
As interest rates ease and job losses climb, New Zealand’s housing market faces a mixed year of modest growth, with conflicting forces shaping the outlook for homebuyers and investors.
Don’t bet on house prices rising faster than incomes
Former Reserve Bank Governor and National Party leader Don Brash says there are grounds for believing that house prices may finally have ended the three-decade period when they rose significantly faster than incomes.
Similar Price Growth
Although houses prices typically rise more than apartments over the long-term, the gap is not as wide as many people expect.
Top Mortgage Rates
| Unity First Home Buyer special | 3.99 |
| SBS FirstHome Combo | 4.29 |
| ICBC | 4.69 |
| Co-operative Bank - First Home Special | 4.69 |
| AIA - Go Home Loans | 4.75 |
| TSB Special | 4.75 |
| SBS Bank Special | 4.75 |
| Kiwibank Special | 4.75 |
| Kainga Ora | 4.75 |
| Westpac Special | 4.75 |
| ANZ Special | 4.75 |
| Wairarapa Building Society | 4.59 |
| AIA - Go Home Loans | 4.75 |
| TSB Special | 4.75 |
| SBS Bank Special | 4.75 |
| Kainga Ora | 4.75 |
| Westpac Special | 4.75 |
| ANZ Special | 4.75 |
| ASB Bank | 4.75 |
| Kiwibank Special | 4.79 |
| Nelson Building Society | 4.87 |
| Unity Special | 4.89 |
| Westpac Special | 5.39 |
| SBS Bank Special | 5.39 |
| ICBC | 5.39 |
| AIA - Go Home Loans | 5.49 |
| TSB Special | 5.49 |
| Co-operative Bank - Owner Occ | 5.49 |
| ASB Bank | 5.49 |
| Kainga Ora | 5.49 |
| ANZ | 5.59 |
| Kiwibank Special | 5.59 |
| BNZ - Classic | 5.59 |
| SBS Construction lending for FHB | 3.74 |
| AIA - Back My Build | 4.44 |
| CFML 321 Loans | 4.75 |
| Co-operative Bank - Owner Occ | 5.70 |
| Co-operative Bank - Standard | 5.70 |
| Heartland Bank - Online | 5.75 |
| ICBC | 6.09 |
| Kiwibank - Offset | 6.15 |
| Kiwibank | 6.15 |
| Pepper Money Prime | 6.29 |
| BNZ - Std | 6.29 |
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People News
Non-bank BDMs on the move
Two former Pepper Money business development managers have new roles.
Hodgetts lands new role with large FAP
Former FAMNZ country head Leigh Hodgetts has returned to a compliance role.
Go Lend expands
Non-bank P2P mortgage lender, Go Lend has appointed its first business development manager.
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KiwiSaver News
Consilium reports increased demand for KiwiWRAP
Consilium says it has seen a surge in advisers using its KiwiWRAP KiwiSaver scheme along with an increasing interest in personalised KiwiSaver advice from high-balance investors.
Lots of $2 billion milestones
Three companies have celebrated $2 billion milestones recently.
Sharesies KiwiSaver set to break even as funds soar
Sharesies’ KiwiSaver scheme should tip over into break-even and profitability in the current financial year, says the company’s KiwiSaver general manager Matt Macpherson.
Loan Market banks on AI; Non-bank BDM's on the move
Loan Market looks to harness AI to make advisers’ lives easier. [READ ON]
In People news three former non-bank business development managers find new homes. [Details here]