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Monday, March 5th 2001, 7:02AM

Merrill lynch has sold its New Zealand retail broking business to ABN Amro Craigs as part of the company's strategic realignment.

While most of the advisers in Merrill's Auckland and Wellington offices will move to ABN Amro Craigs on April 1, a number have decided to join Credit Suisse First Boston.

The deal will make ABN Amro Craigs one of the biggest broking firms in the country with a total of 75 client advisers working from 12 offices nationwide.

AMP plunges into online financial services


AMP is due to launch a new online financial services shop on March 8.

The name of the site is being kept a closely guarded secret until launch date. However, there are 19 firms involved in the venture including fund managers, sharebrokers, mortgage brokers and insurance companies.

New index fund
The success of Bank of New Zealand's Capital Protected Index Investment last year has encouraged the company to launch another one.

The earlier, which raised about $35 million, was a bank deposit and its return tarcked the S&P 500 but had a capital guarantee.

BNZ's latest CPII offers returns linked to two major European indices the FTSE100 and the Eurostoxx 50.

The new investment will be launched on April 2

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  • Bank advice 'an area of concern'
    “Well said Dirty Harry! In the example you used, who is to say the customer doesn't owe $5,000 to a third tier lender...”
    20 hours ago by Cynical Ex-banker
  • Bank advice 'an area of concern'
    “FACT: I went into my bank to make an enquiry. After completing that I was asked if I was in K/Saver. I said I was in...”
    22 hours ago by LPL
  • Bank advice 'an area of concern'
    “In other words, the true home of 'too much selling and not enough advising...’; If someone walks into a bank and says...”
    23 hours ago by Dirty Harry
  • What’s the point of independent advisers?
    “Good work from Mr Berry. The “views paraphrased from the large fund manager” are ridiculous and if these views are...”
    23 hours ago by Brent Sheather
  • What’s the point of independent advisers?
    “Great article. Is one of the problems also that the providers (banks/insurance companies/fund managers etc) don't offer...”
    24 hours ago by btw
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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AMP Home Loans 7.24 5.99 6.39 6.65
AMP Home Loans $200k+ 7.14 5.89 6.29 6.55
AMP Home Loans LVR <80% - - 5.85 6.29
ANZ 6.74 6.05 6.49 6.65
ANZ LVR > 90 6.74 6.55 6.99 7.15
ANZ Special - - 5.99 -
ASB Bank 6.75 6.09 6.40 6.65
ASB Bank Special - - 5.99 6.19
BankDirect 6.75 6.09 6.99 6.65
BankDirect Special - - 5.99 6.19
BNZ - Classic - - 5.99 ▼6.19
Lender Flt 1yr 2yr 3yr
BNZ - GlobalPlus 6.74 5.99 6.39 6.59
BNZ - Mortgage One 7.15 - - -
BNZ - Rapid Repay 6.74 - - -
BNZ - Std, FlyBuys 6.74 5.99 6.39 6.59
BNZ - TotalMoney 6.74 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 5.90 6.50 -
Credit Union North 6.45 - - -
Credit Union South 5.75 - - -
eMortgage 6.04 6.15 6.69 7.19
Finance Direct 6.10 6.45 6.69 7.10
Lender Flt 1yr 2yr 3yr
First Credit Union 6.45 - - -
General Finance 5.95 6.25 6.50 7.10
HBS Bank 6.15 5.85 5.99 6.25
HBS Special - - - 5.95
Heartland 6.45 6.75 7.00 7.60
Heretaunga Building Society ▲6.70 ▲6.00 6.50 -
Housing NZ Corp 6.74 5.99 6.19 6.60
HSBC Premier 6.84 5.95 5.95 6.55
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 6.75 5.99 6.39 -
Lender Flt 1yr 2yr 3yr
Kiwibank ▲6.65 5.99 6.39 6.65
Kiwibank - Capped 5.65 6.50 - -
Kiwibank - Offset ▲6.55 - - -
Kiwibank LVR > 80% - - ▼5.89 -
Liberty 5.64 - - -
Napier Building Society 5.80 6.00 6.70 -
Nelson Building Society 6.95 6.15 6.60 -
NZ Home Loans 6.85 6.09 6.40 6.65
Perpetual Trust 7.70 - - -
RESIMAC LVR < 80% 6.59 6.35 6.58 6.77
RESIMAC LVR < 85% - - - -
Lender Flt 1yr 2yr 3yr
RESIMAC LVR < 90% - - - -
RESIMAC LW DOC - - - -
SBS Bank 6.15 5.85 5.99 6.25
SBS Bank Special - - - 5.95
Silver Fern 5.95 6.10 6.55 7.05
Sovereign 6.85 6.09 6.40 6.65
Sovereign Special - - - 6.19
The Co-operative Bank 6.70 6.00 6.00 6.25
TSB Bank 6.74 6.00 6.19 6.60
TSB Special - - ▼5.79 -
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac 6.59 6.09 6.39 6.65
Westpac - Capped rates - 6.74 6.99 -
Westpac - Offset 6.59 - - -
Westpac Special - - 5.99 6.19
Median 6.70 6.03 6.39 6.60

Last updated: 1 September 2014 9:03am

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