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
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Reserve Bank springs surprise with dovish OCR forecast
The Reserve Bank surprised economists by signalling it may keep the OCR rate at 1.75 percent until 2020, pushing back its forecasts in a dovish statement this morning.
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What the bank said: OCR unchanged and to stay low for longer
The Reserve Bank has kept the Official Cash Rate at its record low level and it will stay there for longer than previously forecast Here's why.
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ANZ scraps staff sales incentives
ANZ has scrapped sales-based bonuses for frontline retail staff, moving to a customer service focused bonus programme.
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Aussie report calls for end of trail commission
Australia’s Productivity Commission has recommended the country's banks put a stop to mortgage adviser trail commission.
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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.
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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.
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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.
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Mike Pero Mortgages boss warns of “forensic underwriting”
Mike Pero Mortgages boss Mark Collins has warned lenders are conducting “forensic underwriting” on expenses when assessing loans, amid tightening credit conditions.
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General Finance stock market listing moves closer
The stock market listing of non-bank lender General Finance moved a step closer this week as a deal with a listed cash shell was approved by shareholders.
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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.
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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.
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Squirrel launches no-fee personal loans
Adviser Squirrel Mortgages has launched a no-fee loan product for homeowners looking to renovate and improve their properties.
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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.
