Govt greenlights Kiwibank raising $500m ahead of eventual float

The government has given Kiwibank's parent, Kiwi Group Capital, and the Treasury the green light to raise up to $500 million from institutions including KiwiSaver funds ahead of an eventual public float. Once the capital is raised it could allow Kiwibank to lend up to an extra $10 billion to home buyers or $4 billion to businesses.

ANZ gets new CEO

ANZ Group has announced its long-serving chief executive, Shayne Elliott, will retire and be replaced by international banking executive Nuno Matos.

Huge pile of mortgage money on short terms as borrowers wait for interest rate drops

While mortgage lending grows most borrowers are shying away from long term fixed rates as the Reserve Bank indicates it has more OCR cutting to do.

SMEs gearing up for silly season

As New Zealanders prepare for a quintessential Kiwi summer, SMEs will be gearing up for what they hope will be a busy holiday period. 

Today's Rate Changes

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Property News

RBNZ: house prices may rise 7% a year in next two years

RBNZ: house prices may rise 7% a year in next two years

The Reserve Bank's forecasts were predicated on an assumption that house prices will rise about 7% in each of the next two calendar years, governor Adrian Orr told journalists after RBNZ cut its official cash rate (OCR) from 4.75% to 4.25%.

Apartment owners thumped by consistently fast rising insurance

Apartment owners thumped by consistently fast rising insurance

Treasury’s latest survey on insurance shows apartment and other multi-unit buildings (MUB) owners have borne the brunt of rising premiums.

Competition between investors and first home buyers about to heat up

Competition between investors and first home buyers about to heat up

Existing properties are on the radar of property investors as the pace of decline in property values finds a floor and first home buyer numbers dip.

Top Mortgage Rates

SBS FirstHome Combo 4.89
Heartland Bank - Online 5.49
Unity First Home Buyer special 5.49
Co-operative Bank - First Home Special 5.69
TSB Special 5.69
Nelson Building Society 5.75
Kiwibank Special 5.79
Unity 5.79
Kainga Ora 5.79
ICBC 5.79
AIA - Go Home Loans 5.79
Heartland Bank - Online 5.39
AIA - Go Home Loans 5.49
SBS Bank Special 5.49
Westpac Special 5.49
ASB Bank 5.49
Unity 5.55
ICBC 5.59
Kainga Ora 5.59
Kiwibank Special 5.59
TSB Special 5.59
Co-operative Bank - Owner Occ 5.59
Westpac Special 5.59
BNZ - Classic 5.59
ICBC 5.59
TSB Special 5.69
SBS Bank Special 5.69
Co-operative Bank - Owner Occ 5.69
AIA - Go Home Loans 5.79
ASB Bank 5.79
Kainga Ora 5.89
BNZ - Std 5.89
Kiwibank Special 5.89
AIA - Back My Build 4.94
SBS FirstHome Combo 4.94
CFML 321 Loans 6.20
CFML Home Loans 6.45
Co-operative Bank - Standard 6.95
Co-operative Bank - Owner Occ 6.95
Heartland Bank - Online 6.99
Kiwibank 7.25
Kiwibank Special 7.25
Kiwibank - Offset 7.25
TSB Special 7.39
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People News

From G to V to three

From G to V to three

Former head of Vega mortgages moves to adviser group.

Ex Bluestone BDM joins Loan Market

Ex Bluestone BDM joins Loan Market

Loan Market makes fifth new appointment in six months.

From MAC to board

From MAC to board

The former chairman of the Member Advisory Committee (MAC) – mortgage and lending at Financial Advice NZ is now a board member.

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KiwiSaver News

KiwiSaver assets grow to $117.6 bill

KiwiSaver assets grow to $117.6 bill

The KiwiSaver pot grew by $7 billion to $117.6 billion in the third quarter of this year with QuayStreet, Milford and Generate highlighted as some of the strong performers over the long term.

KiwiSaver shortcomings identified in global report

KiwiSaver shortcomings identified in global report

Bumping up KiwiSaver contributions and introducing a carer’s savings credit for those with young children are among the improvement measures identified in a new report benchmarking New Zealand against other countries’ pension systems.

Tattoo removal and IVF companies are part of Generate's new PE deal

Tattoo removal and IVF companies are part of Generate's new PE deal

Generate KiwiSaver makes another investment into private equity.