Link appoints a new general manager
Adviser training boss takes the helm of Link Financial Group (LFG).
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Mortgage lending dips
The latest Reserve Bank figures show new mortgage lending dropped to $8.3 billion in April from $8.7 billion in March, but up 3.5% from $8 billion in the same month last year.
Which banks did the most lending in 1st quarter; and who slowed down
Kiwibank appeared to take its foot off the accelerator on mortgage lending in the March quarter after a string of quarters of lending above its market share which reached almost 8% at March 31.
More borrowers take out ever bigger mortgages
More than 18,000 borrowers have mortgages of more than $2 million, a number that has grown rapidly – up from 5,000 in 2017, 6,000 in 2019 and 13,000 in 2022.
Advocacy over shouting leads the way
The demise of the Finance and Mortgage Advisers Association of New Zealand (FAMNZ) is no surprise to Hamish Patel, Financial Advice New Zealand (FANZ) mortgage and lending director.
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Property News
New rules for meth contaminated houses
REINZ welcomes regulation of methamphetamine contamination in rental housing.
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.
Top Mortgage Rates
| Unity First Home Buyer special | 4.09 |
| SBS FirstHome Combo | 4.19 |
| ICBC | 4.49 |
| Co-operative Bank - First Home Special | 4.55 |
| Kainga Ora | 4.59 |
| AIA - Go Home Loans | 4.65 |
| Co-operative Bank - Owner Occ | 4.65 |
| ASB Bank | 4.65 |
| BNZ - Std | 4.65 |
| Nelson Building Society | 4.69 |
| TSB Special | 4.69 |
| Kainga Ora | 4.95 |
| China Construction Bank | 4.95 |
| ICBC | 4.99 |
| Nelson Building Society | 5.09 |
| SBS Bank Special | 5.19 |
| Westpac Special | 5.19 |
| BNZ - Std | 5.19 |
| AIA - Go Home Loans | 5.25 |
| ASB Bank | 5.25 |
| TSB Special | 5.25 |
| Unity Special | 5.29 |
| ICBC | 5.65 |
| Kainga Ora | 5.69 |
| SBS Bank Special | 5.79 |
| Westpac Special | 5.79 |
| BNZ - Std | 5.79 |
| AIA - Go Home Loans | 5.89 |
| Co-operative Bank - Owner Occ | 5.89 |
| ASB Bank | 5.89 |
| TSB Special | 5.99 |
| Kiwibank Special | 5.99 |
| China Construction Bank | 5.99 |
| SBS FirstHome Combo | 3.29 |
| AIA - Back My Build | 3.34 |
| SBS Construction lending for FHB | 3.74 |
| CFML 321 Loans | 3.95 |
| Co-operative Bank - Standard | 4.99 |
| Co-operative Bank - Owner Occ | 4.99 |
| ICBC | 5.39 |
| Kiwibank Special | 5.75 |
| Kiwibank - Offset | 5.75 |
| Kiwibank | 5.75 |
| Kainga Ora | 5.79 |
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New Prospa BDMs
Small business lender Prospa adds two new Business Development Managers.
New BDM at FMT
FMT adds Tauranga-based BDM
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KiwiSaver News
New fund tool to compare KiwiSaver returns, connect advisers
A new fund finder tool is designed to offer a more user-friendly way for people to compare their KiwiSaver options.
KiwiSaver balances lift but some members left behind
New data from the Retirement Commission shows balances have increased year-on-year, but some people are still being left behind.
Call for change in way New Zealanders shown their retirement savings future
New Zealanders may be underestimating how much they need to save for retirement – and calculators that tell different stories aren’t helping, one consultant says.
Winners and losers in first quarter
Which banks were up and which ones were down in the March quarter? [Details here]