tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Thursday, August 6th, 6:52PM

Mortgages

Mortgage Rates Daily Commentary
Thursday 6 August 2020  Add your comment
The Co-operative Bank slashes home loan rates

More rate cuts to report this morning, as The Co-operative Bank cuts three, four and five year rates. Its three year rate at 2.79% is level with the big four. Check out the latest rates here.

rss
Latest Headlines

ANZ's mortgage book -- the mystery continues

Trying to establish what's happening to ANZ Bank's mortgage book continues to be trying.

Thursday, June 2nd 2011, 7:14AM

by Jenny Ruth

However, it appears from ANZ's New Zealand branch's disclosure statement - which includes all the bank's activities in this country, including its subsidiary - that the mortgage book didn't grow as strongly as the subsidiary's disclosure statement, published on May 21, suggested.

The subsidiary's accounts, which included amounts for mortgages sold to the branch, suggested ANZ's mortgage book grew by about $500 million in the quarter.

Three different measures of the mortgage book included in the branch's document suggest the mortgage book grew by either $30 million, using the same figures goodreturns.co.nz has used since 2002, or by $134 million, derived from ANZ's note on loans and advances, or by $182 million, derived from its loan-to-valuation table, including both drawn and undrawn mortgages but excluding commitments to lend.

ANZ's mortgage lending including both drawn and undrawn mortgages and commitments to lend totaled $56.92 billion at March 31 but no equivalent figure can be derived from its December document.

Unfortunately, ANZ's branch document no longer provides separate information on its branch-only position excluding its subsidiary as previous quarters' documents have. It is also prepared using the Basel l rules while the subidiary's accounts use the Basel ll rules which result in significant differences.

Since the other three Australian-owned banks only conduct mortgage lending through their subsidiaries and report using Basel ll rules, that makes comparisions like a stab in the dark, no matter which figures one chooses.

The branch document does confirm ANZ's profitability improved substantially in the March quarter, up 63.9% to $218 million, with net interest income growing 5.1% to $637 million and charges against profit for bad loans sinking to $51 million from $173 million in the year-earlier quarter.

« Kiwibank's profit plunges as bad loan charges soarTSB's mortgage book grows but profitability flat »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 2.55 2.69 2.79
ANZ 4.44 3.15 3.25 3.39
ANZ Special - 2.55 2.69 2.79
ASB Bank 4.45 2.55 2.69 2.79
Bluestone 3.49 3.49 3.49 3.49
BNZ - Classic - 2.55 2.69 ▼2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 ▼3.15 3.29 ▼3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 5.50 - - -
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 3.35 3.85 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Heretaunga Building Society 4.99 ▼3.85 ▼3.95 -
HSBC Premier 4.49 2.45 2.60 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 3.69 2.55 2.65 2.79
Kainga Ora 4.43 3.29 3.39 3.85
Kiwibank 3.40 3.30 3.54 3.54
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.55 2.79 2.79
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Resimac ▼3.39 3.45 ▼2.99 ▼3.35
SBS Bank 4.54 3.09 3.19 3.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 2.59 2.69 2.99
The Co-operative Bank - Owner Occ 4.40 2.55 2.69 ▼2.79
The Co-operative Bank - Standard 4.40 3.05 3.19 ▼3.29
TSB Bank 5.34 3.35 3.49 3.79
TSB Special 4.54 2.55 2.69 2.99
Wairarapa Building Society 4.99 3.65 3.69 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - 2.55 2.69 2.79
Median 4.55 3.12 3.19 3.14

Last updated: 6 August 2020 8:24am

Previous News

MORE NEWS»

News Bites
Compare Mortgage Rates
Compare
From
To
For

To graph multiple lenders, hold down Ctrl key while clicking in list box

Also compare rates to OCR
Find a Mortgage Broker

Add your company

Use map
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com