Not enough awareness and understanding of non-bank lending
Mortgage adviser Jeff Royle, a significant player in the non-bank sector, says he has never come across a country so obsessed with interest rates.
Mortgage adviser Jeff Royle, a significant player in the non-bank sector, says he has never come across a country so obsessed with interest rates.
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For the first time this year the value of new mortgages for home buyers was higher than the same month last year.
While the OCR is expected to hold at 5.50% at next month’s OCR review, at least three banks – ANZ, Westpac, HSBC – believe it will rise to 5.75% at the November RBNZ meeting. That’s despite the Reserve Bank’s indication it is not expecting to hike further in this cycle.
One of the most annoying things for mortgage adviser Brenda Murney of Vega is how banks assess affordability.
Mortgage completion rates are being used as a tool by banks to monitor the loyalty, effectiveness and servicing need for their adviser channel.
Part of the early-stage recovery in the housing market comes from loan-to-value ratio rules being loosened in June.
Using Stats NZ’s urban-rural area classification, Infometrics has looked at New Zealand’s larger towns and cities and how they are projected to change.
ANZ reckons house prices will now lift 4% over the second half of this year. This is up 1% from its previous forecast of 3%.
SBS FirstHome Combo | 6.25 |
Westforce Credit Union - Special | 6.65 |
Heartland Bank - Online | 6.69 |
ICBC | 6.95 |
Unity | 6.99 |
Co-operative Bank - First Home Special | 6.99 |
China Construction Bank | 7.09 |
Wairarapa Building Society | 7.15 |
Kiwibank Special | 7.15 |
TSB Special | 7.19 |
Co-operative Bank - Owner Occ | 7.19 |
Heartland Bank - Online | 6.59 |
ICBC | 6.65 |
China Construction Bank | 6.75 |
Unity | 6.79 |
Co-operative Bank - Owner Occ | 6.89 |
SBS Bank Special | 6.89 |
TSB Special | 6.89 |
Wairarapa Building Society | 6.94 |
Westforce Credit Union - Special | 6.95 |
Kiwibank Special | 6.99 |
Westpac Special | 6.99 |
Westpac Special | 6.39 |
China Construction Bank | 6.40 |
TSB Special | 6.49 |
BNZ - Classic | 6.49 |
Kiwibank Special | 6.49 |
ICBC | 6.49 |
SBS Bank Special | 6.69 |
AIA - Go Home Loans | 6.69 |
Co-operative Bank - Owner Occ | 6.69 |
ASB Bank | 6.69 |
Kainga Ora | 6.85 |
SBS Construction lending for FHB | 5.44 |
ANZ Blueprint to Build | 5.88 |
AIA - Back My Build | 6.19 |
SBS FirstHome Combo | 6.19 |
Westforce Credit Union - Standard | 7.00 |
Credit Union Auckland | 7.70 |
Heartland Bank - Online | 7.75 |
ICBC | 7.85 |
First Credit Union Standard | 8.25 |
Pepper Money Essential | 8.29 |
Co-operative Bank - Owner Occ | 8.40 |
Liberty adds a new underwriter, promotes a former underwriter to a BDM role and secures a specialist property lender from another non-bank.
NZ Home Loans has appointed a new group general manager strategy to help grow the business.
The Adviser Platform (TAP) has added two new hires in operations and support roles.
Calls for changes to KiwiSaver are growing louder.
Fee revenue from KiwiSaver dropped 8.1% in the year to 31 March 2023 says the latest Financial Markets Authority’s KiwiSaver annual report.
Parliament’s finance and expenditure committee has called for public submissions on the Employment Relations (Protection for Kiwisaver Members) Amendment Bill.
Not enough understanding of non-bank lending
Mortgage adviser Jeff Royle, a significant player in the non-bank sector, says he has never come across a country so obsessed with interest rates. [READ ON]