Teething problems for NZFSG

NZFSG has drawn criticism from members for its transition to the new regime, with concerns over commission disclosure, fees and non-panel lending.

Squirrel launches 95% mortgage

Squirrel Mortgages has launched a 95% mortgage for first home buyers, offering rates as low as 4.09%.

Heartland launches cut-price revolving credit product

Heartland Bank has launched a market-leading revolving credit facility at 2.75%, as the lender continues to offer low rate loans through the digital channel. 

Housing market's unlikely Covid boost

Low net migration to New Zealand during the pandemic has given the nation a chance to "dent" its chronic housing shortage, according to Kiwibank economists.

Private fund activity grows

Small private lenders are becoming a bigger fixture in the mortgage market as investors seek new sources of financing for development projects.

Banks and non-banks given clean bill of health

New Zealand's biggest banks and non-bank lenders remain in a robust position despite the pandemic, according to rating agency Standard & Poor's.

Economists react as OCR kept on hold

The Reserve Bank has kept the official cash rate on hold, but said it is prepared to push rates lower if required. Economists predict a stable period of low rates ahead.

More stories
  • OCR decision revealed

    The Reserve Bank has kept the official cash rate on hold at 0.25%. Here's what the central bank said:

  • Rates could be on hold for four years

    The Government's housing reforms will cause a fall in the housing market that could delay official cash rate hikes until 2025, according to Westpac economists.

  • OCR Preview Survey: Rate to hold

    Economists predict the official cash rate will remain on hold this week, with all eyes on the housing market as the Reserve Bank makes its latest statement.

  • Reverse mortgage enquiries soar

    Heartland Bank has seen a 39% increase in reverse mortgage enquiries in the first quarter, as homeowners seek to release equity in a frothy housing market. 

  • Registered valuation chaos

    Unprecedented demand in the housing market is causing a backlog for registered valuations as valuers struggle to cope, according to real estate specialist CoreLogic.

  • Prospa included in Business Finance Guarantee scheme

    Non-bank lender Prospa has been added as an approved lender to the Government's Business Finance Guarantee scheme, as ministers open up the initiative to alternative lenders for the first time.

  • Concern over valuation turnarounds

    Advisers say their clients are experiencing severe delays with turnaround times for registered valuations, putting first home buyers in a race against time on auctions.

  • Big banks weigh affordability changes

    ANZ has confirmed it will review its affordability criteria for investor loans in the wake of the Government's housing reforms. TMM Online asked the rest of NZ's major lenders if they plan to follow suit.

  • ANZ reviews investor lending amid reforms

    ANZ is the first big four lender to confirm that it will review investor lending assessments following the Government's housing reforms.

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