Kiwibank declined to compete as hard as some other players in terms of incentives offered in the June half year as the overall home loans market slowed, according to chief executive Steve Jurkovich.
As mortgage lending crashes to nearly zero amid a prolonged property market slump, the number of homes selling for a loss is steadily increasing hitting 13.1% – the highest since 2012.
Taranaki residents unhappy with the plan to sell TSB Bank to Heartland are hoping to file an injunction to stop it next week but some are baulking at the possibility they may face damages if the legal challenge fails.
Borrowers paid $4.783 billion in interest on $397.4 billion in residential mortgages outstanding at the end of the June quarter this year, the latest Reserve Bank figures show.
OCR increases are inevitable off the back of yesterday’s 4.1% inflation figure, but the pace of the hikes remains uncertain to a degree, Westpac says.
When repaying debt, timing can be as important as the repayment amount as one borrower found out when served with a Property Law Act (PLA) notice.
Bizcap’s flexible product suite helps New Zealand partners solve more SME funding scenarios with speed, choice and confidence.
North Shore-based adviceHQ has bought the mortgage, insurance, and KiwiSaver business of long-time investment and wealth advisory firm Money Planners.
The question of whether the New Zealand economy can grow much without a recovery in the housing market remains a live issue.
The Reserve Bank raised its official cash rate (OCR) to 2.5% from 2.25%, couching the move as “a reduction in monetary stimulus.”
The Reserve Bank has increased the OCR. Here's what it said.
The amount households have to spend on interest payments has fallen for a fifth consecutive quarter, despite rising living costs.
Keeping the cash rate at 2.25% will be an easy decision for the RBNZ at its OCR meeting next week, Kelly Eckhold, Westpac chief economist says.
The FMA has taken over from the Commerce Commission as regulator of the Credit Contracts and Consumer Finance Act (CCCFA).
The Financial Markets Authority (FMA) is going after advisers and FAPs who flout its rules and pose significant risks for borrowers.
Does the recent fall in oil prices mean that OCR hikes can now be called off?
Mortgage advisers looking for another stream of income as trail commission becomes harder to find are looking at their options in KiwiSaver, one provider says.
Technology is going to be the key for the proposed TSB Heartland Bank to become a major challenger of scale with a regional focus.
ANZ NZ CEO Antonia Watson to retire; Ben Kelleher to take over.
