News

Lower long-term rates predicted

Advisers and economists have predicted lower interest rates for longer, after Westpac slashed its five year fixed rate by 60 basis points.


Mike Pero v Mike Pero companies – the battle continues

The judge hearing the latest legal battle between Mike Pero and the companies that bear his name struggles to understand how they can work together. Surprisingly one party says yes they should while the other would happily end the relationship. Miriam Bell has been in court and has filed this report.

Consumers expect rate rise: ASB

Respondents to ASB’s latest Housing Confidence Survey expect interest rates to go up in the next 12 months, despite increasingly cautious language from the Reserve Bank.

REINZ data suggests "buyers market" in Auckland

Auckland property is becoming increasingly attractive to buyers, according to ASB, after latest REINZ data revealed flattening prices continued into July.

Mike Pero v MPM $2.5 mill debt fight back in court

The long-running legal dispute over a $2.5 million debt between Mike Pero and the current owners of the mortgage advice firm that has his name has hit the courts once again.

Kiwibank offers 90% KiwiBuild mortgages

Kiwibank is offering first home buyers 90% mortgages on KiwiBuild homes, with an extra $2000 for moving and legal expenses.

“Real” risk of OCR cut: Westpac

Economists at Westpac believe there is a “real” chance the Reserve Bank could cut the OCR rate, following last week’s dovish forecast.

More stories
  • ANZ scraps staff sales incentives

    ANZ has scrapped sales-based bonuses for frontline retail staff, moving to a customer service focused bonus programme.

  • Avanti makes major home loan changes

    Avanti Finance, the non-bank lender backed by Westpac, has made a number of changes to its home loan offering as it seeks to gain market share from New Zealand’s big banks.

  • Mortgage fraudsters jailed

    A former BNZ banker and a lawyer have been handed jail terms for committing a $54 million mortgage fraud in Auckland and Hamilton.

  • OCR preview: Reserve Bank tipped to remain cautious

    Kiwi economists believe Reserve Bank governor Adrian Orr will sound a cautious note on the economy next week, with little chance of an OCR rate increase, and an outside chance of a cut.

  • Select Committee told: Could do better

    Recommendations from the select committee considering the Financial Services Legislation Amendment Bill have been welcomed, but Financial Advice NZ says it’s fallen short of the mark.

  • Committee proposes FSLAB changes

    The Economic Development, Science and Innovation Committee has provided its report on the bill, which recommends it be passed, with amendments. Financial Advice New Zealand chief executive Katrina Shanks said she was disappointed to see the committee had not taken a stand to draw a line between sales and advice.

  • Ombudsman sees drop in mortgage cases

    A new report from the Banking Ombudsman suggests New Zealand's lenders are doing a better job selling mortgages to customers.