Heartland Group lifts annual profit 9% on reverse mortage and other lending growth

Heartland Group lifted annual net profit 9 percent amid growth in its reverse mortgages, motor and business lending divisions.

ANZ's Elliott voices concerns over credit controls

ANZ Banking Group chief executive Shayne Elliott has called for more clarity on responsible lending obligations, stating risk aversion has "infected" the banking system.

Q Advisor Group sets out licensing stance

Q Advisor Group will give advisers the choice of becoming a FAP in their own right or operating under its FAP licence under the new regulatory regime.

DTIs still on the Reserve Bank’s radar

Almost half of Auckland first home buyers have mortgages that are over five times their annual income – and that makes debt-to-income (DTI) ratios a hot topic again.

Advisers call for servicing test rethink for borrowers

Advisers believe banks should adapt their servicing tests for borrowers after the Official Cash Rate plunged to 1%.

Prospa raises $45 million for NZ funding

Australian non-bank SME lender Prospa, led in New Zealand by Adrienne Church, has raised a $45 million lending facility for New Zealand loans.

More stories
  • Banks slash rates after historic OCR cut

    Lenders have taken action on fixed and floating rates after the Reserve Bank cut the Official Cash Rate to a record low of 1%. Here's a roundup of the cuts as of Thursday morning:

  • OCR decision revealed

    The Reserve Bank of New Zealand has cut the Official Cash Rate to a new record low of 1%. Here's why:

  • ASB lifts annual profit 8% but says underlying growth was subdued

    ASB Bank’s chief executive says she’s more focused on forward business conditions than on resting on the laurels of producing an 8 percent annual profit increase at the same time as the Australian parent reported an 8 percent fall in earnings.

  • 3 reasons SMEs struggle to get finance

    New Zealand is home to more than 500,000 small businesses, which make up 97% of all enterprises and contribute an estimated 28% of GDP. Advisers are an important part of this community - either running ventures themselves or serving the finance needs of small business clients to keep them moving and growing.

  • OCR will fall to 0.75%: Kiwibank

    Kiwibank has changed its forecast for the Official Cash Rate and now “expects” the OCR will drop to 0.75% in this cycle.

  • Economists unanimous on rate cut

    Economists unanimously agree that the Reserve Bank will cut the Official Cash Rate to 1.25% next week, according to TMM's OCR Preview Survey.

  • Newpark in discussions with banks on new regime

    The general manager of mortgage adviser group Newpark Home Loans is confident of striking a deal with banks to operate under the new financial advisers' regime.

  • General Finance doubles loan book

    Brent King, General Finance managing director, says advisers will play a key role as it continues to grow its residential lending book and deposit-taking businesses.

  • OCR cut almost certain: BNZ

    The Reserve Bank is “almost certain” to cut the Official Cash Rate to a record new low next week, according to BNZ economists.

  • Fixed rates to fall further: Westpac

    Retail fixed interest rates will fall even further this year as the central bank considers "aggressive" cuts, according to Westpac.

  • Investor lending flat in June

    Property Investors borrowed $1.02 billion in June, according to new Reserve Bank data, down from $1.2 billion in June 2018.