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NZ First wants law reviewed

New Zealand First is calling for a review of the Residential Tenancies Act.

Tuesday, April 8th 2014, 12:00AM

by The Landlord

It says it wants to put a stop to the exploitation of people forced to pay excessive rents.

Associate housing spokeswoman Lea’ufa’amulia Asenati Lole-Taylor said: “On a recent trip to Christchurch I met a family paying $395 to share one bedroom in a property which was housing four other families, and all were required to share a kitchen and bathroom facilities.

“Landlords are stretching their rights by overcrowding their properties and overcharging rent. While most landlords are fair there are some who exploit tenants.”

She said market rents did not always match the type of property or its condition. But tenants sometimes did not have a choice.

“Moving is not always an option as often there is no cheaper accommodation on the rental market. How can families get ahead when some are being forced to use more than half their income on rent before they’ve even thought about other bills and expenses?  They feel like they are in quicksand.”

She said a review of the RTA was needed to ensure that it was fair for the landlord and the tenant.

Meanwhile, the party’s leader, Winston Peters, said at the weekend that a restriction on sales of houses and farms to foreign buyers was a bottom line for NZ First.

“We know that there are a lot of properties being sold to foreign interests. We know of cases in Auckland where buyers are obtaining multiple titles and are being financed with very low interest rates by banks based in China. Throughout history, foreign ownership of property has caused serious problems. In New Zealand we have a disaster in the making,”  he said.

“No other country has such open ended rules over property ownership. Thousands of New Zealanders are forced to live in sub-standard houses while people stepping off a plane can grab any number of properties. This has to be stopped forthwith. Many of the overseas owners are involved in property speculation in the Auckland market, driving up prices and creating a serious shortage of homes for young families starting out.”

 

« Outlook good for rent rises: CrockersWOF costs a concern: NZCPR »

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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 ▼2.93 ▼3.07 ▼3.24
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 ▼3.05 3.19 ▼3.25
Lender Flt 1yr 2yr 3yr
SBS Bank Special - ▼2.55 2.69 ▼2.75
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 3.05 3.13 3.12

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