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Weekly Wrap: A week of deals

Three deals hit the headlines this week, including one late Friday. Check out our round up of what's been happening during the past five working days.

Friday, March 30th 2007, 4:48PM

There’s no doubt that Wednesday’s deal between St Laurence and Dorchester was a stunner. Very few people would have predicted that the two would enter a relationship which has all the hallmarks of turning into a full-blown marriage (with possibly a few jilted lovers and former partners around too).

I comment some more on this deal in Phil’s Blog – but the key message is that people have to rethink about who Dorchester is and where it is going.

Blog

Karma between Dorchester and St Laurence
It’s not often I get shocked by an announcement in this industry of ours. But yesterday’s deal between St Laurence and Dorchester is a show-stopper. [more]

The other significant story is that MFS has gobbled up another firm. This time it is Swains which Northplan (Vestar) already had a 20% stake in. It is a trend we discuss in the April issue of ASSET Magazine.

Monday is not quite April Fools’ Day, but it is no joke for advisers. The new tax rules for offshore investments kick in then and it is clear there is still a heck of a lot to learn about these rules.

On the investment front we have a story from a Vestar presentation to accountants and lawyers this week on its take on investment markets. Economist and ASSET columnist Donal Curtin gives his take on what markets are hot and what’s not.

If you put money on deposit then you need to be keeping a constant eye on the market at the moment. Generally most of the changes occur around the first of the month. With April 1 days away, and an official cash rate increase in the bag, mixed in with aggression from the banks, we are seeing numerous increases in deposit rates. You can check out what is happening at www.depositrates.co.nz

Also in the news on that part of the site is the failure of another finance company which has been operating in New Zealand. Read about it here.

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While the Deposit taking market has been mad, so too has the mortgage rate market. We have seen numerous changes and rates are going up, up, up. Frankly refinancing a loan now (or taking out a new one) isn’t a particularly attractive option. Good Returns’ Mortgage Centre has all the rates, plus you can compare historical rates. Click on this link and it will show you how much two-year fixed rates for three banks have gone up this year.

Also in the Mortgage Centre we have a story on the red bank’s Green Home Loan and a story on how mortgage brokers are grabbing market share.

Insurance advisers are being inundated with roadshows and new offerings at the moment. Late last week we reported on AXA’s new products and changes to its commission structure. This week we have a report on AIA’s roadshow. Also of interest to insurance advisers will be the changes to the PIE tax rules.

No Weekly Wrap is complete without a People update. We have one senior appointment at Money Managers and Good Returns understands the firm will have a new boss soon. For all the latest appointments go to the People Section.

And to end this week’s newsletter we have a BRICK – not something which will weigh you down though. Find out all about Liontamer’s new capital protected fund in the Special Report.

Get your own copy of the Weekly Wrap each Friday. Click here to join the mailing list.
« MFS buys Swains advisory businessSovereign takes regulation bull by the horns »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.24 6.79 6.65
ANZ 8.64 7.84 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.24 6.79 6.65
ASB Bank 8.64 7.24 6.79 6.65
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.24 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.84 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 7.04 - -
Co-operative Bank - Owner Occ 8.40 7.24 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.74 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.69 6.45 6.19
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.75 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 7.39 7.25
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 8.25 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 7.25 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.75 7.35 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 ▼8.09 ▼7.59 ▼7.29
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 ▼9.09 ▼8.59 ▼8.29
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.84 7.45 7.25
SBS Bank Special - 7.24 6.85 6.65
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.74 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 8.04 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 7.24 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - - 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 7.89 7.49 7.25
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.29 6.89 6.65
Median 8.64 7.29 7.32 6.65

Last updated: 28 March 2024 9:42am

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