If all goes to plan, Heartland Group’s purchase of TSB Bank will result in home loans becoming 44% of the combined group’s $15.1 billion of gross receivables and 54% of the New Zealand bank’s gross receivables, according to the proforma inflation Heartland has provided.
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Heartland Group is taking over TSB paying the Taranaki-based bank $1.13 billion in cash, shares and a $264 million two-year vendor loan.
Two years after launching the Finance and Mortgage Advisers Association of New Zealand (FAMNZ) is shutting up shop.
Finbase has launched a new 30-year mortgage product after a $150 million capital partnership deal with ASX-listed Challenger.
Australia listed Challenger has finalised a $150 million capital partnership with Auckland-based mortgage lender Finbase
REINZ welcomes regulation of methamphetamine contamination in rental housing.
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.
| 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 |
| ICBC | 4.89 |
| Kainga Ora | 4.95 |
| China Construction Bank | 4.95 |
| Nelson Building Society | 5.09 |
| SBS Bank Special | 5.19 |
| Westpac Special | 5.19 |
| BNZ - Std | 5.19 |
| AIA - Go Home Loans | 5.25 |
| TSB Special | 5.25 |
| ASB Bank | 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 |
| Heartland Bank - Online | 5.30 |
| ICBC | 5.39 |
| Kiwibank Special | 5.75 |
| Kiwibank - Offset | 5.75 |
| Kiwibank | 5.75 |
Small business lender Prospa adds two new Business Development Managers.
FMT adds Tauranga-based BDM
New data from the Retirement Commission shows balances have increased year-on-year, but some people are still being left behind.
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.
Financial advisers need to remember that value-for-money is an ongoing expectation in KiwiSaver, one financial advice technology specialist says, not something that can be dealt with once and ticked off.
[BREAKING NEWS] Heartland to buy TSB
Heartland Group is taking over TSB paying the Taranaki-based bank $1.13 billion in cash, shares and a $264 million two-year vendor loan. [READ ON]