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Weekly Wrap:

We wrap up all the big news over the past week in Friday's Weekly Wrap.

Saturday, July 14th 2007, 10:36PM
This week Good Returns and Deposit Rates.co.nz has been keeping a close eye on the Bridgecorp collapse. We have kept readers up to date with stories, mainly through depositrates.co.nz which has recorded key events. No doubt the news flow will continue for sometime, so keep an eye on this section to keep up to speed with developments. (One option is to subscribe to the depositrates.co.nz newsletter here).

Key developments during the past week were the revelation, and it is a revelation, that the Securities Commission had suspended Bridgecorp's prospectus three days before the collapse. This and other developments are commented on in today's Blog.

Also Jenny Ruth provides an update on Blogwhat is happening with one Bridgecorp related company, Compass Capital, which isn't in receivership.

Thanks for all our readers who have provided feedback on the collapse. The information his helping us understand the issue more. One thing we would like more info on is what Bridgecorp was offering in terms of commissions and incentives. If you would like to help here please send an email to blog@goodreturns.co.nz

Yes there is other news happening in the industry. KiwiSaver has been a little quieter this week, its second week of operation, but we are starting to see more new players enter the market. This week it was the turn of eo financial services. What do they do? Well find out here.

One broker made some useful comments this week that people joining KiwiSaver could create troubles for themselves when it comes to refinancing. These comments can be found in the Mortgage Centre.

Home loan rates are falling slightly for some fixed terms. See all the latest rates and the week's changes here. KPMG came out this week and defended banks saying that they are acting responsibly with their lending practices, which some people have disagreed with.

Again lots of changes on the People front. This week's appointments include Strategi expanding its team, a new chief operating officer at Southern Cross, two new appointments at First New Zealand Capital. As usual we keep you up-to-date in the People section.

Have you got your copy of the latest ASSET Magazine? It's packed with features, but two I wanted to point out are a profile with Broadbase founder Marshall Garrett and an in-depth interview with Lianne Dalziel on the changes she is proposing for advisers and non-bank deposit taking institutions.

Here's what one reader said:

"I sat down and read the latest issue cover to cover last night and just wanted to say what a bloody good read ASSET Magazine is. The Dalziel and Garrett interviews particularly good!" To get your copy call Amy on 0800-345675 today.

Have a great weekend.

« Sec Comm suspended Bridgecorp's prospectus days before collapseSovereign takes regulation bull by the horns »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 ▼2.29 ▼2.59 ▼2.65
ANZ 4.44 2.89 3.25 3.39
ANZ Special - 2.29 2.69 2.79
ASB Bank 4.45 2.29 2.59 2.65
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - 2.29 2.59 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 2.89 3.19 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
Lender Flt 1yr 2yr 3yr
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland Bank - Online 2.50 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.50 3.40 -
HSBC Premier 4.49 2.25 2.35 2.65
HSBC Premier LVR > 80% - - - -
HSBC Special - 1.99 - -
Lender Flt 1yr 2yr 3yr
ICBC 3.69 2.25 2.35 2.65
Kainga Ora 4.43 2.79 3.04 3.13
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.20 3.50 3.50
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.35 2.65 2.65
Liberty 5.69 - - -
Nelson Building Society 4.95 3.20 3.24 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
SBS Bank 4.54 2.79 2.79 3.15
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 2.29 2.29 2.65
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - 2.09 - -
The Co-operative Bank - Owner Occ 4.40 2.29 2.59 2.79
The Co-operative Bank - Standard 4.40 2.79 3.09 3.29
TSB Bank 5.34 3.09 3.29 3.45
TSB Special 4.54 2.29 2.49 2.65
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.09 3.29 3.39
Westpac - Offset 4.59 - - -
Westpac Special - 2.29 2.69 2.79
Median 4.55 2.79 2.99 2.80

Last updated: 26 February 2021 11:27am

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