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Red tape taskforce revealed

The members of a new Rules Reduction Taskforce to cut red tape in the property sector have been revealed.

Tuesday, February 10th 2015, 12:00AM

by The Landlord

Public meetings of the taskforce will begin in March.

The taskforce, to be co-chaired by National MP Jacqui Dean and Michael Barnett, chief executive of the Auckland Chamber of Commerce, will consider rules surrounding buying and selling property, and development and renovations.

It will report back to the Government on where cuts could be made.

Local Government Minister Paula Bennett announced the nine members who would join Dean and Barnett.

“The Rules Reduction Taskforce has been set up to get rid of loopy property rules and regulations that are stopping people from getting on with the job,” she said. “The members appointed today have a wealth of experience across the building and trades sectors as well as central and local government. I’ve asked them to hold public hearings around the country, as well as consider submissions made online, and come back to the Government outlining areas where we can make improvements and cut red tape.”

They are:  Christopher Burke,  Hon John Carter QSO,  Stephen Halliwell,  Hon Tau Henare,  Philippa Murdoch,  Rachel Reese, Mark Thomas, Connal Townsend JP, and Ian Tulloch QSO, JP.

“There’s a great deal of frustration out there from people looking to build, redevelop or make home improvements, who are being held back by confusing, costly rules which have long since lost their relevance,” Bennett said.  “We believe there are quick fixes we can make in the short-term, and some longer-term work we can do, to make things more efficient and straightforward for people. It will also be an opportunity to determine which rules should stay or be strengthened.”

« Healthy lifestyle property market: REINZCall to cut rules in regional NZ »

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Lender Flt 1yr 2yr 3yr
AIA 4.55 3.55 3.89 3.99
AIA Special - 3.05 3.39 3.69
ANZ 4.44 3.29 3.45 3.85
ANZ Special - 2.79 2.95 3.35
ASB Bank 4.45 ▼3.35 ▼3.19 ▼3.85
ASB Bank Special - ▼2.85 ▼2.69 ▼3.35
Bluestone 4.44 4.44 4.29 4.34
BNZ - Classic - ▼2.79 ▼2.69 ▼2.99
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 ▼3.39 ▼3.29 ▼3.59
Lender Flt 1yr 2yr 3yr
BNZ - TotalMoney 4.55 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 2.80 3.15 3.19
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Lender Flt 1yr 2yr 3yr
Heretaunga Building Society 4.99 4.35 4.45 -
HSBC Premier 4.49 2.80 2.89 3.50
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC ▼4.40 ▼2.95 ▼2.95 ▲3.69
Kainga Ora 4.43 ▼3.29 ▼3.39 ▼3.85
Kiwibank 4.40 3.74 4.14 4.40
Kiwibank - Capped - - - -
Kiwibank - Offset 4.40 - - -
Kiwibank Special - ▼2.65 ▼2.79 ▼3.25
Liberty 5.69 - - -
Lender Flt 1yr 2yr 3yr
Napier Building Society - - - -
Nelson Building Society 4.95 3.75 3.99 -
Pepper Essential 5.18 - 4.98 4.98
Resimac 3.49 3.45 3.39 3.69
RESIMAC Special - - - -
SBS Bank 4.54 4.85 5.05 5.49
SBS Bank Special - 2.99 3.05 3.69
The Co-operative Bank - Owner Occ 4.40 ▼2.79 ▼2.95 ▼3.39
The Co-operative Bank - Standard 4.40 ▼3.29 ▼3.45 ▼3.89
TSB Bank 5.34 3.59 3.79 4.19
TSB Special 4.54 2.79 2.99 3.39
Lender Flt 1yr 2yr 3yr
Wairarapa Building Society 4.99 3.95 3.99 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - ▼2.79 ▼2.79 3.39
Median 4.55 3.32 3.39 3.69

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