Advisers angered by new BNZ pricing conditions
BNZ has introduced new pricing conditions for the broker channel and will no longer guarantee mortgage rate offers during their five day validity period.
October rate increases to follow recent moves
Banks are poised to raise interest rates further next month despite a wave of increases in recent weeks.
Broker complaint dismissed
FSCL has rejected a complaint against a broker and finance company after a client fell behind on mortgage payments and was forced to sell their home.
CCCFA an opportunity for advisers
Mortgage advisers will benefit from CCCFA lending changes as borrowers seek help with complex home loan applications, according to Squirrel's John Bolton.
Borrowers abandon one year rates
Borrowers are less likely to pick one-year fixed mortgages ahead of expected rate increases, with three-year deals becoming more popular, according to a new survey.
Westpac and BNZ follow with lockdown rate hikes
Westpac and BNZ are the latest big banks to make significant mortgage rate increases, hiking prices by up to 30 basis points.
Hardship clients face credit issues
Clients making mortgage deferral requests during lockdown have been told their hardship status will affect their credit rating, according to an Auckland-based adviser.
More stories
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Major rate hikes at big four banks
ASB has hiked mortgage rates by up to 30 basis points this morning, a significant move likely to trigger further market increases. ANZ has also raised pricing on a range of fixed terms.
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Prospa raises A$200 million for business lending
Non-bank lender Prospa has raised $200 million for SME lending on both sides of the Tasman as it capitalises on major banks retrenching from the market.
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Mortgage rates have troughed: ASB
Mortgage rates have hit their low point in this cycle and the next move is up despite the latest Covid outbreak, say ASB economists.
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OCR hike likely despite lockdown: ANZ
The Reserve Bank is likely to stick to its guns and hike the official cash rate by 25 basis points next month despite Auckland's ongoing lockdown, according to ANZ economists.
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CCCFA changes delayed
The Government has agreed to delay the start of the Credit Contracts Legislation Amendment act after pressure from the industry.
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Avanti closes out biggest ever NZ securitisation
Avanti Finance has raised $350 million which will help it grow and support the mortgage adviser network.
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New-build buyer risks grow
Developers are extending timelines for new-build homes due to construction delays, leading to increased risks for borrowers.
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Special mortgage rates flat in August
Special mortgage rates held steady in August following a significant increase between June to July, according to new Reserve Bank data.
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ASB to honour pricing during alert level four
ASB has promised to honour pricing for home loan customers unable to settle during alert level four, after advisers claimed the bank had forced some borrowers to reapply.
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Lockdown issues hit home loans
Customers unable to settle their home purchase during lockdown have been forced to re-apply for mortgages, according to advisers, as Covid restrictions impact the market.
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Tighter LVR restrictions for owner-occupiers
The Reserve Bank plans to tighten LVR restrictions for owner-occupiers as it clamps down on low deposit home loans.
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Prospa bounces back from first lockdown
Small-business lender Prospa has seen its lending flourish after drying up at the end of last year due to the Covid-19 pandemic.
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Resimac writing more prime loans and dealing with more advisers
Resimac has had a bumper year in New Zealand seeing its settlements increased by 81% to $434 million in the financial year to June 30.
