Australian dealer group Astute Financial has taken a 50% stake in Mortgage Express.
New Zealand’s top economists predict the Reserve Bank will hold the Official Cash Rate next week, as the central keeps a close watch on GDP growth and inflation.
Introduction of a capital gains tax still looks likely but wealth taxes and land taxes are not on the cards, the Tax Working Group’s interim report reveals.
Lender Heartland says it will pursue its strategy of focusing on “best or only” products, as it reports an 11% increase in profit.
Mortgage advisers are predicted to continue to be an important source of business for Kiwi banks as they soar to new heights of profitability.
Lots of news to kick off the week.
First up, an Australian dealer group has taken a 50% stake in Mortgage Express. Here's the first of our stories on who bought in.
On the home loan rates front there have been some big cuts from SBS. The cuts are to all rates from two years out to five years. What's interesting is that the cuts are to its Special. The only carded rate to fall is its two-year rate.
All these changes, bar three-years, are market leading rates.
Added to that Kiwibank has taken 20 basis points off its two-year fixed rate.
This week we can reveal how many mortgages Loan Market settled in the recently completed financial year. It's an impressive increase on the year before and helps show how important the mortgage adviser channel is for New Zealanders
GM appointed to new mortgage group