Investor activity subdued in April
Investors borrowed just $988 million in April, down from $1.26 billion in the same month last year, according to new figures from the Reserve Bank.
RBNZ's April data shows investors took $988 million of the $5.4 billion lent for New Zealand home purchases. The weak numbers follow a slight resurgence in April, when investors borrowed $1.09 billion.
May's figures are likely to be stronger, after the government abandoned plans to introduce a capital gains tax last months. But ongoing LVR curbs on investor borrowing, and other proposals,...MORE»
Westpac says RBNZ capital proposals would add $6,000 a year. to an Auckland mortgageFriday, May 24th, 10:02AM
Westpac says the Reserve Bank’s bank capital proposals will mean homeowners with an average mortgage in Auckland will be paying about $6,000 a year more in interest. MORE» |
SFO raids office of Dunedin adviserFriday, May 24th, 9:55AM
The Serious Fraud Office, with the assistance of the Financial Markets Authority, has executed search warrants on Thursday in relation to an investigation concerning the Dunedin-based financial adviser. MORE» |
Small banks fire warning on capital requirements
Four smaller banks have warned that the Reserve Bank's new capital proposals could inadvertently widen the competitive gap between them and the big four.
MORE»LVR restrictions stabilise property market: RBNZ
Loan to value ratio restrictions play a crucial role in promoting financial stability, the Reserve Bank has concluded, following a review of macroprudential policy.
MORE»Prospa's rapid growth
Small business lending specialist Prospa, has appointed two business development managers, including Resimac's former sales manager, to support its growing New Zealand operation.
MORE»Non-bank Pepper teams up with Astute
Australian non-bank lender Pepper Money has taken a big step into the New Zealand market by signing a partnership deal with Astute.
MORE»Australian election a win for advisers
Scott Morrison's Liberal Coalition has won the Australian Federal Election, a result which means potential bans on upfront and trail commission will be put on the back burner.
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