Resimac slashes prime rates
Non-bank Resimac has slashed prime rates to new lows as it pushes to take business from traditional lenders.
ANZ eases servicing test
ANZ has become the latest bank to ease its servicing test criteria for borrowers, reflecting the lower interest rate environment.
Non-banks get Covid boost
Non-bank lenders have reported a flood of new customers turned away by the banks in the wake of the Covid-19 pandemic, as traditional lenders stick to conservative credit limits.
Avanti launches near-prime home loans
Non-bank lender Avanti Finance has launched a near-prime home loan as it seeks to attract new customers with stronger credit profiles.
Mortgage holidays set for extension
Minister of Finance Grant Robertson says the Reserve Bank could extend mortgage holidays for struggling borrowers.
Negative OCR in April 2021: Westpac
The Reserve Bank will still need to slash the official cash rate to negative territory next year, despite a better-than-expected recovery from the Covid-19 pandemic, according to Westpac economists.
Home lending jumps in June
New mortgage lending jumped to $5.3 billion in June as the market recovered strongly from the Covid-19 lockdown.
More stories
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Turnaround times deteriorate: survey
Turnaround times "seem to have got worse" following Covid-19, according to a new survey conducted by economist Tony Alexander.
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OCR hold call is straightforward: BNZ
A stronger than expected recovery from the depths of lockdown mean an Official Cash Rate hold is "straightforward" next month, according to economists at BNZ.
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HSBC home loan drops to new record-low
HSBC Premier has once again slashed home loan rates, dropping its one year term to 2.45%, a fresh market low.
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ASB eases servicing criteria
ASB Bank has eased its lending servicing criteria after cutting home loan rates for high LVR borrowers last week.
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Servicing tests hinder home loan market
Tough servicing tests continue to hinder the home loan market, leaving borrowers unable to tap into attractive headline interest rates.
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ASB cuts rates for high LVR borrowers
ASB Bank will no longer charge high LVR borrowers a higher interest rate, promising to offer the same price "irrespective of equity levels".
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Heartland eyes relaunch of digital home loan
Heartland says its 2.95% digital mortgage product was a hit with borrowers, and could the relaunch online offering when the lending market settles down.
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Profits below expectations at General Finance parent
General Capital, the parent of non-bank lender General Finance, saw profits fall below expectations in the year to March, despite a 254% increase in net profit for its lending arm.
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Community transmission could force negative OCR: Kiwibank
Community transmission of Covid-19 could force the Reserve Bank to slash the Official Cash Rate to negative territory, according to economists at Kiwibank.
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Why bank changes are good for advisers
The days of face-to-face banking may be numbered with the big banks closing branches around the country in the wake of Covid-19, but this change could work out well for advisers.
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Westpac loan process gets the thumbs-up
Westpac's decision to process third-party loans in-branch has been a success, leading to improved turnaround times, advisers say.
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Advisers buoyed by strong property market
The New Zealand property market has emerged strongly out of lockdown, according to mortgage advisers, who say they are busy as ever this winter.
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Bank profits drop 20%
Bank profits plummeted by 20% in the three months to March, with the early impact of Covid-19 hammering the sector, according to a new report from KPMG.
