Big, fat beautiful fees
Banks have lobbied themselves another profit centre under open banking, which could kill fintech innovation, Sam Stubbs of KiwiSaver Simplicity says.
Banks have lobbied themselves another profit centre under open banking, which could kill fintech innovation, Sam Stubbs of KiwiSaver Simplicity says.
KiwiSaver Adviser Tool streamlines the KiwiSaver advice process and helps financial advisers to deliver tailored KiwiSaver advice at scale. It automates key parts of the advice process and enables advisers to generate a Statement of Advice in under 10 minutes, significantly reducing the time and effort traditionally required. MORE »
How does this sound when buying your professional indemnity insurance: No-strings-attached quotes, no need to sign yourself over to a new broker just so you can get a price, complete clarity and transparency around policy wording and fees, and premiums that will be around 10%-15% lower than the low rates we negotiated last year? MORE »
Adding to the RBNZ’s cautious OCR approach and pause on cuts this month is the full impact of the large interest rate reductions over the past year is yet to be felt.
Even though the OCR didn’t budge yesterday, a sizeable chunk of mortgage holders are expected to keep fixing at floating rates in the hope there will be further cuts.
While there’s debate within the Reserve Bank’s monetary policy committee about where interest rates are headed, mortgage rates have either bottomed already or have only a little further to fall, says Kiwibank chief economist Jarrod Kerr.
The Monetary Policy Committee today agreed to hold the Official Cash Rate at 3.25%. Here's why in its own words.
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.
Although houses prices typically rise more than apartments over the long-term, the gap is not as wide as many people expect.
Unity First Home Buyer special | 4.29 |
SBS FirstHome Combo | 4.29 |
ICBC | 4.85 |
Co-operative Bank - First Home Special | 4.85 |
China Construction Bank | 4.85 |
Kainga Ora | 4.89 |
Kiwibank Special | 4.89 |
SBS Bank Special | 4.89 |
TSB Special | 4.89 |
AIA - Go Home Loans | 4.89 |
Westpac Special | 4.89 |
Nelson Building Society | 4.93 |
AIA - Go Home Loans | 4.95 |
Wairarapa Building Society | 4.95 |
TSB Special | 4.95 |
SBS Bank Special | 4.95 |
Kiwibank Special | 4.95 |
Kainga Ora | 4.95 |
ICBC | 4.95 |
Westpac Special | 4.95 |
ANZ Special | 4.95 |
ASB Bank | 4.95 |
Westpac Special | 5.39 |
SBS Bank Special | 5.39 |
ICBC | 5.39 |
BNZ - Classic | 5.59 |
AIA - Go Home Loans | 5.59 |
ASB Bank | 5.59 |
Co-operative Bank - Owner Occ | 5.59 |
BNZ - Std | 5.59 |
Kainga Ora | 5.69 |
Kiwibank Special | 5.79 |
ANZ | 5.79 |
SBS Construction lending for FHB | 3.94 |
AIA - Back My Build | 4.44 |
CFML 321 Loans | 4.99 |
Co-operative Bank - Owner Occ | 5.95 |
Co-operative Bank - Standard | 5.95 |
Heartland Bank - Online | 5.99 |
Pepper Money Prime | 6.29 |
Kiwibank | 6.35 |
Kiwibank - Offset | 6.35 |
TSB Special | 6.39 |
BNZ - Std | 6.44 |
Liberty has appointed a new general manager to the Mike Pero group nine months after the former GM left.
Aggregation business, Finsure Group, has appointed a compliance manager to help mortgage advisers deal with the regulatory changes and compliance issues which can often create extra stress for their businesses.
Avanti business development manager promoted to role of national sales manager.
More than a million people will be seeking advice on their KiwiSaver, Harbour Asset Management co-chief executive Andrew Bascand says.
The Government is increasing contribution rates to KiwiSaver, but at the same time reducing, and in some cases, removing the member tax credit.
Boutique providers have taken out the top spots in Consumer New Zealand’s KiwiSaver survey with Generate awarded People’s Choice.
Big, fat beautiful fees
Banks are charging fintechs for access to customer data under open banking, a move Sam Stubbs says will stifle competition and protect bank profits at the cost of innovation. [READ ON]