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: Friday, April 26th, 1:19PM

Mortgages

Mortgage Rates Daily Commentary
Wednesday 24 April 2024  Add your comment
Lifetime Home Masterclass

New Zealand’s first debt-free home equity release income solution, Lifetime Home allows Kiwi retirees aged 70 and above to access the wealth tied up in their home to bolster their retirement income.

Lifetime Home requires no mortgage, no debt, and no interest payments. Instead, it offers certainty and financial peace of mind when it’s needed most.

Master Class for Financial and Mortgage Advisers
Join Lifetime’s founder and managing director, Ralph Stewart and Chief Marketing Officer, Chelsea Devlin to find out everything you need to know about Lifetime Home.

Lifetime Home master classes will be held in-person in Christchurch, Wellington, and Auckland, and online.

To book your tickets CLICK HERE

rss
Latest Headlines

Brokers should make gimmicks irrelevant: McLeod

If brokers are doing their jobs correctly, they should be able to match any special offer touted by the banks, says Glen McLeod, founder of Edge Mortgages.

Wednesday, March 20th 2013, 1:32PM

by Susan Edmunds

ASB is offering a 42-inch television and up to $1000 cash to people who take out new loans or refix them with the bank at carded rates, even if they are existing customers.

Gimmicks have been common over the past year, as banks compete for customers in an increasingly competitive mortgage market.

That’s despite a survey done by mortgagerates.co.nz that showed few borrowers made their decisions based on such offers.

ASB’s general manager of retail products and strategy, Shaun Drylie, said the bank had decided to offer a TV and cash back because of the response to its Samsung tablet offer six months ago.

“Our spring home loan campaign Samsung Galaxy tablet offer ran for five months, during which time we provided free tablets to thousands of customers.  Market share and mortgage registration data over this period have highlighted how well this offer was embraced by both new and existing customers, with both social media and in-branch discussion adding to the offer’s word-of-mouth appeal.”

The bank would not disclose how many borrowers took up the tablet offer, citing commercial sensitivity.

But McLeod said most borrowers had opted for cash rather than tablets during that offer. He said the response to the television was more 50/50. “It does motivate some people but others just want the cash.”

And he said when such an offer was converted to cash, a good broker should be able to match it by negotiating with other lenders. “If we’re doing our jobs correctly, the cash incentives should be matched elsewhere anyway.”

He said it was a broker’s job to discuss with a client whether fixing a mortgage at a carded rate and receiving a free television, or negotiating a better rate, was the better deal.

John Bolton, of Squirrel, said teasers could sometimes seal the deal. "[It's a] marketing gimmick but it gets noticed."

« Westpac matches ANZWheeler should move rate now: Economist »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
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 6.75 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 6.75 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 ▲6.89 ▲6.55 ▲6.35
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 ▼7.29 ▼6.59
SBS Bank Special - 7.24 ▼6.69 ▼5.99
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 7.35 7.25
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.29 6.75 6.65
Median 8.64 7.29 7.29 6.65

Last updated: 24 April 2024 9:24am

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  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com