Mortgage holders prepared for higher interest rates
Borrowers over the past year have made steady progress in moving their mortgages to longer terms in preparation for higher interest rates, Mike Jones, BNZ chief economist says.
Borrowers over the past year have made steady progress in moving their mortgages to longer terms in preparation for higher interest rates, Mike Jones, BNZ chief economist says.
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Mortgage advisers need to expand their investing and budgeting knowledge if they want to pivot away from just being a transactional operator as the sector enters one of its most significant periods of change in decades, Gareth Dobson, Finsol founder and adviser says.
Mortgage advisers have increased their share of BNZ's home loan book, despite the bank maintaining a strong focus on its proprietary lending channel.
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Westpac is seeing some of its biggest ever flows from mortgage advisers despite the bank removing trail commissions earlier this year.
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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.
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.
| AIA - Go Home Loans | 4.00 |
| Unity First Home Buyer special | 4.15 |
| SBS FirstHome Combo | 4.29 |
| ICBC | 4.49 |
| Kainga Ora | 4.59 |
| SBS Bank Special | 4.69 |
| China Construction Bank | 4.85 |
| Co-operative Bank - First Home Special | 4.89 |
| Unity Special | 4.99 |
| TSB Special | 4.99 |
| ANZ Special | 4.99 |
| Kainga Ora | 4.95 |
| China Construction Bank | 4.95 |
| ICBC | 4.99 |
| SBS Bank Special | 5.29 |
| AIA - Go Home Loans | 5.35 |
| BNZ - Std | 5.35 |
| ANZ Special | 5.35 |
| ASB Bank | 5.35 |
| TSB Special | 5.39 |
| Kiwibank Special | 5.39 |
| Westpac Special | 5.39 |
| SBS Bank Special | 5.49 |
| Westpac Special | 5.59 |
| ICBC | 5.65 |
| Kainga Ora | 5.69 |
| ASB Bank | 5.75 |
| AIA - Go Home Loans | 5.75 |
| BNZ - Std | 5.75 |
| Kiwibank Special | 5.85 |
| Co-operative Bank - First Home Special | 5.89 |
| ANZ Special | 5.89 |
| TSB Special | 5.99 |
| SBS FirstHome Combo | 3.29 |
| AIA - Back My Build | 3.34 |
| SBS Construction lending for FHB | 3.79 |
| CFML 321 Loans | 4.20 |
| ICBC | 5.39 |
| Co-operative Bank - Standard | 5.69 |
| Co-operative Bank - Owner Occ | 5.69 |
| Kainga Ora | 5.79 |
| Pepper Money Prime | 5.99 |
| Unity Special | 6.04 |
| Unity Standard | 6.04 |
New non-bank lender MB Private has drawn its leadership from banking, property finance and funds management.
Avanti Finance has appointed Tracy Pennell as Chief Operating Officer, as the specialist lender strengthens its executive structure to create better alignment and clearer ownership across operations, risk and its business areas.
A number of active KiwiSaver providers have failed to fire in the past year, while passive management has come to the fore.
Sharesies KiwiSaver offering was marginally cash-flow-positive in the year ended March but its general manager says the focus is still on growth and enhancing its products.
KiwiSaver advisers who are reviewing their clients’ investments on an annual basis probably aren’t serving them as well as they could, the founder of an AI business says.
BNZ profit dips and margins fall
BNZ reported its annual profit yesterday - interestingly it chapioned that 59% of its mortgage book came through its bank distribution channel.
This is the overall make up of the book.
What was not disclosed (and we have asked for) is the flow numbers. That is how much business came from advisers v branches in the financial year.
[FOR MORE DETAILS READ ON HERE]