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Articles tagged with 'BNZ'

What the Reserve Bank's latest move means for housing

24 September 2020 - The Reserve Bank’s programme to lend directly to retail banks could be ready soon. If it is, that’s likely to mean lower interest rates on loans – and more support for the housing market.

Australian banks' offloading of wealth businesses continues

1 September 2020 - BNZ parent NAB has agreed to sell its MLC Wealth business to IOOF for A$1.44 billion.

BNZ joins rivals with negative OCR forecast

19 August 2020 - BNZ economists have joined the other big four banks in predicting the Reserve Bank will adopt a negative official cash rate.

BNZ slashes rates; Trouble in Queenstown

3 August 2020 - BNZ has slashed its 18 month home loan to 2.65% this morning, while its three year falls to 2.79%. Investors and owner-occupiers can access the same rates...

OCR hold call is straightforward: BNZ

22 July 2020 - A stronger than expected recovery from the depths of lockdown mean an Official Cash Rate hold is "straightforward" next month, according to economists at BNZ.

Why bank changes are good for advisers

8 July 2020 - The days of face-to-face banking may be numbered with the big banks closing branches around the country in the wake of Covid-19, but this change could work out well for advisers.

BNZ and Resimac cut rates; OCR decision later

24 June 2020 - Non-bank lender Resimac has slashed rates across its range of specialist home loans, while also cutting its servicing rate: [READ ON] Rate cuts keep coming,...

BNZ to put all staff through courses

11 June 2020 - BNZ's parent company, National Australia Bank, says that all bank staff across Australia and New Zealand will be put through FINSIA courses.

Former BNZ bankers back new advice firm

3 June 2020 - Former BNZ Private bankers embark on new journey launching top-end financial advice firm.

Consents fall could have been worse

2 June 2020 - New dwellings consents dropped in April. That didn’t surprise anyone but economists were surprised that the drop wasn’t bigger.

Lending policies changing rapidly

2 June 2020 - Bank lending policies are changing at their fastest rate since the GFC, with huge variations between major lenders, according to one Auckland adviser. 

Kiwibank smashes record with 2.65% home loan

22 May 2020 - Mortgage rates continue to plummet to record-lows, with Kiwibank launching a one-year home loan at 2.65%.

BNZ tightens lending policy; Westpac and TSB match 2.79% record low

22 May 2020 - BNZ is sticking to a tight lending policy for mortgage borrowers, despite the Reserve Bank's decision to scrap LVR restrictions: [READ ON] Home loan...

BNZ tightens lending policy

22 May 2020 - BNZ is sticking to a tight lending policy for mortgage borrowers, despite the Reserve Bank's decision to scrap LVR restrictions.

BNZ launches sub 3% rate; Subsidy welcomed by industry

15 May 2020 - BNZ has launched a two-year, sub 3% rate for owner-occupiers and investors this morning. The bank has made a host of other changes. Find out more here...

How Budget 2020 supports the housing market

14 May 2020 - Was Budget 2020 transformational? Experts are debating that now but, whether or not it turns out to be, it does provide some support for the residential property market going forward.

Pre-approvals hit by Covid-19

20 April 2020 - Banks are withdrawing pre-approvals for home loans amid the Covid-19 outbreak, as credit conditions continue to tighten. 

Cuts to cash-back offers

16 April 2020 - Banks have begun to reduce cash-back offers on home loans in the wake of the Covid-19 crisis, advisers have told TMM Online.

Payment holidays won't affect credit scores

3 April 2020 - Banks have quashed speculation that payment holidays will affect customers' credit scores and their ability to borrow in the future.

Banks roll out mortgage holiday

30 March 2020 - Major lenders have launched mortgage holidays for borrowers affected by the Covid-19 outbreak, using online application forms to process customer requests.

Banks roll out mortgage holidays

30 March 2020 - Major lenders have launched mortgage holidays for borrowers affected by the Covid-19 outbreak, using online application forms to process customer requests.

Westpac latest to cut fixed rates

23 March 2020 - Westpac is the fourth bank to cut fixed rates after last week's official cash rate cut, dropping its one year term to 3.09%.

BNZ slashes 18 month rate to 3.05%

23 March 2020 - BNZ has launched a 3.05% 18 month fixed mortgage, the joint-cheapest ever offered by a major bank: [READ ON] Take a look at our mortgage rates table here...

BNZ enters price war with 3.05% fixed mortgage

20 March 2020 - BNZ has launched a 3.05% 18 month fixed mortgage, the joint-cheapest ever offered by a major bank.

BNZ slashes long-term rates; ASB predicts mortgage rate cuts will be minor

11 March 2020 - BNZ has this morning slashed its 3, 4 and 5-year fixed rates for owner-occupiers and investors. Its 3 year rate is now level with Westpac, which cut rates...

Will mortgage rates fall much further?

9 March 2020 - An official cash rate cut looks increasing likely amid the Covid-19 outbreak, but economists doubt mortgage rates will drop much further than current levels.

Balanced 'simpler' approach, minister says

2 March 2020 - Commerce and Consumer Affairs Minister Kris Faafoi says the Government considered requiring default funds to have a life stages setting, but opted for a simpler approach instead.

BNZ targets investor market

24 January 2020 - BNZ has dropped investor home loan rates to the same level as owner-occupier rates, as competition for a resurgent investor market heats up.

Kiwibank-BNZ takeover talk heats up; BNZ aims for investor market

24 January 2020 - Could Kiwibank buy BNZ? Takeover talk has intensified this morning: [READ ON] Meanwhile, BNZ has dropped investor home loan rates to the same level...

Kiwibank-BNZ takeover talk grows

24 January 2020 - Kiwibank is lining up a multibillion dollar takeover of big four bank BNZ, according to reports.

Small banks stall on licensing

10 January 2020 - TSB and The Co-operative are among the lenders yet to decide how they will work with financial advice provider licence holders under the new regulatory regime.

New boss at BNZ private bank

16 December 2019 - BNZ has confirmed its new head of private bank.

Westpac, BNZ rate increases; Resimac asset finance deal

16 December 2019 - Westpac and BNZ have kicked off the week with some home loan rate increases.  Westpac's 2 year special edges up to 3.55%, a move of 10 basis...

BNZ Investments mints new independent director

4 December 2019 - BNZ has added another investment expert to the board of BNZ Investment Services Limited.

Rate cuts continue despite RBNZ decision

2 December 2019 - Lenders continue to cut mortgage rates as the property market heads into the summer, despite the Reserve Bank's decision to keep the official cash rate on hold. 

BNZ censured over capital failings

19 November 2019 - The Reserve Bank will increase its supervision of BNZ after capital modelling errors were found.

BNZ makes $1 billion as first home lending soars

11 November 2019 - BNZ has posted a profit of $1.02 billion for the financial year, boosted by a 6% increase in overall lending and 25% rise in first home loans.

Bluestone and NZFSG cut down turnaround times; 50% chance of OCR cut?

6 November 2019 - Bluestone and NZFSG/Loan Market have gone live with straight-through processing in an effort to reduce turnaround times: [READ ON]. BNZ economists say...

Markets price 50% chance of OCR cut: BNZ

5 November 2019 - Financial markets are pricing in a 50% chance of an official cash rate cut next week, down from 90% odds just a week ago.

BNZ cuts rates; Mortgage Lab makes licensing call

17 October 2019 - BNZ is the latest big four bank to cut rates this week. BNZ has slashed 1, 2, 4, and 5 year fixed rates for owner-occupiers and investors. See how they...

Newpark concern over regulation; TSB, ASB rate cuts

27 September 2019 - Newpark has expressed concerns about the level of liability faced by groups under the new regulatory regime, and doubts about groups achieving a FAP license...

Newpark hits out at regulatory confusion

27 September 2019 - Newpark Financial Services has hit out at the ongoing confusion around the new regulatory regime, and has warned the new environment could heap too much liability onto adviser groups.

Tony Alexander resigns from BNZ

27 September 2019 - Veteran economist Tony Alexander has resigned from BNZ Bank after more than 26 years.

OCR on hold: November cut expected

25 September 2019 - The Reserve Bank has kept the Official Cash Rate at the record low of 1%, but economists predict a cut in November.

Westpac and BNZ rate cuts; NZ bank risk assessed

23 September 2019 - To kick off the week, both BNZ and Westpac have cut fixed mortgage rates this morning. BNZ's two-year rate has fallen to 3.49% for owner-occupiers,...

BNZ outlines stance on new regulatory regime

19 September 2019 - BNZ will only deal with groups who hold a FAP licence under the new regulatory regime, becoming the first bank to formally outline its stance on the subject.

Home loan complaints rise

18 September 2019 - Complaints against banks by home loan borrowers rose by 12.3% last year amid a rising number of declined applications, according to the Banking Ombudsman Scheme. 

BNZ's wealth shakeup

27 August 2019 - BNZ's wealth team is undergoing more changes, this time right from the top.

BNZ and SBS rate cuts; DTIs on Reserve Bank's radar; Opportunity at Avanti

13 August 2019 - BNZ has once again cut its fixed home loan rates. Its 1 year is down to 3.69% for owner occupiers, and 3.94% for investors. Its 3 year, meanwhile, is down...

ANZ, BNZ rate cuts; FMA warns on licensing

12 August 2019 - It's an action-packed Monday. Plenty of rate cuts to report this morning and from over the weekend. ANZ has made cuts across its fixed rate range,...

Rate cut bonanza begins

8 August 2019 - A landmark day for interest rates yesterday after the Reserve Bank slashed the Official Cash Rate by 50 basis points to just 1%.  ASB moved first...

Banks slash rates after historic OCR cut

8 August 2019 - Lenders have taken action on fixed and floating rates after the Reserve Bank cut the Official Cash Rate to a record low of 1%. Here's a roundup of the cuts as of Thursday morning:

OCR will fall further: economists react to shock cut

8 August 2019 - The Official Cash Rate could drop to 0.75% or even lower this year, economists say, after the Reserve Bank slashed the OCR by an unprecedented 50 basis points.

Could the Official Cash Rate fall to 0.75%?

30 July 2019 - No rate changes today, but New Zealand banks are making bold predictions about the Official Cash Rate. BNZ believes a cut next week is "almost certain"...

OCR cut almost certain: BNZ

29 July 2019 - The Reserve Bank is “almost certain” to cut the Official Cash Rate to a record new low next week, according to BNZ economists.

Tough servicing rates could be eased

24 July 2019 - The end of tough loan servicing tests could be a step closer after the Australian Prudential Regulation Authority relaxed serviceability rules for Australian lenders.

BNZ slashes two-year rate to 3.79%

22 July 2019 - BNZ has cut its two-year rate for owner-occupiers to a market-leading 3.79%, and has also slashed rates for investors.

BNZ two-year rate down to 3.79%

22 July 2019 - The good times keep on coming for borrowers. BNZ has slashed its two-year mortgage rate for owner-occupiers to a market-leading 3.79%. The bank's two-year...

NAB names Ross McEwan new CEO

19 July 2019 - National Australia Bank has appointed New Zealander Ross McEwan, the former boss National Mutual, as its new CEO.

Markets price in 85% chance of rate cut: BNZ

15 July 2019 - Financial markets are pricing in a 85% chance of a August Official Cash Rate cut, according to new analysis from BNZ.

Banks warn of rising costs from capital rules

1 July 2019 - Major banks have hit out at Reserve Bank plans to force lenders to hold more capital. Here’s what ANZ, BNZ and ASB had to say in their submissions:

Reserve Bank orders ANZ review; BNZ slashes rates

24 June 2019 - Breaking news: The Reserve Bank has ordered two independent reviews into ANZ New Zealand, one on compliance with capital rules, and another looking into...

OCR Preview: Economists predict rates will hold

21 June 2019 - Economists say the Reserve Bank will keep the Official Cash Rate on hold next week, despite mounting global uncertainty and weak growth in New Zealand.

Banks refuse to release submissions on RBNZ proposals

5 June 2019 - While Westpac has released its submission to the Reserve Bank on the proposed new capital requirements, the other big Australian-owned banks are refusing to follow suit.

Commerce Commission investigates BNZ

27 May 2019 - The Commerce Commission has launched an investigation into BNZ over the bank's compliance with the Credit Contracts and Consumer Finance Act.

Don’t count on a market upturn

17 May 2019 - It’s been a spectacular run for the market but this property cycle has done its dash and recent positive developments aren’t likely to cause a major upturn, one top economist says.

BNZ, ASB latest to cut rates

10 May 2019 - BNZ has followed its major rivals by slashing fixed and floating mortgage rates, as price continue to plummet for borrowers.

BNZ cuts KiwiSaver fees

6 May 2019 - BNZ has cut the fees it charges across its KiwiSaver funds and is shifting to an passive approach for international assets.

Will the OCR be cut next week; How brokers helped BNZ

3 May 2019 - Will the Reserve Bank cut the Official Cash Rate next week? We asked leading economists that question and here's their answers. Today we can report...

BNZ banks on brokers

2 May 2019 - BNZ has reported that its first-half net profit jumped 12.2%, boosted, partly by increased business and housing lending, and mortgage advisers played an important role in this result.

Gone: foreign buyers leave market

2 May 2019 - Overseas buyers have dropped out of the market with new Stats NZ data revealing that the number of property transfers they are responsible for has plummeted this year.

Industry shakeout good for advisers

16 April 2019 - Regulation will lead to a reduction in adviser numbers in the coming years, a positive for those remaining in the industry, according to leading industry figures.

BNZ finds partner for shared ownership scheme

12 April 2019 - BNZ has partnered up with finance company YouOwn on a shared ownership scheme aimed at first home buyers.

Price war heats up with ASB move

4 April 2019 - Homeloan rates continue to fall in the wake of the Reserve Bank's OCR comments and weak business confidence numbers this week. ASB has slashed its three, four, and five year interest rates, joining rivals in a competitive race for borrowers.

Mortgage Express hires banker in south Auckland

25 March 2019 - Mortgage Express has hired a banker from BNZ to add to its team in the south Auckland area.

BNZ back below 4%

25 March 2019 - BNZ has slashed its two year classic mortgage to 3.99%, but owner-occupiers, rather than investors, will benefit from the sub 4% rate.

Major banks pledge support for advisers

7 March 2019 - New Zealand’s big four banks have given their support to mortgage advisers in the wake of Australia’s Royal Commission into financial services.

From ANZ to BNZ

4 February 2019 - ANZ's former chief investment officer has taken up roles with BNZ.

The outlook for 2019

3 January 2019 - 2019 is set to be a year of massive change as the Government’s suite of housing and tax policies start to bed in. Here’s what property market commentators have to say on the coming year…

Squirrel innovates with construction loans

12 December 2018 - Mortgage adviser group Squirrel has launched an innovative product to help first home buyers get on the property ladder.

BNZ starts shared ownership scheme

10 December 2018 - BNZ is looking to lure first home buyers with a new shared ownership scheme, the first of its kind in New Zealand. 

Sub 4% rates unlikely to return

6 December 2018 - ASB has joined its major rivals and bumped its fixed one year rate to more than 4%, and advisers predict sub 4% rates are unlikely to return any time soon.

BNZ pledges $3.8 million after error

6 December 2018 - BNZ is set to refund more than 10,000 mortgage customers after making a series of errors with documentation.

ASB predicts mild OCR cycle

19 November 2018 - ASB's quarterly outlook for the New Zealand economic predicts "sunny skies ahead", with low rates until the second half of 2020 and a peak of just 2.75% in the next OCR cycle.

BNZ joins the under-4s

12 November 2018 - BNZ has followed ANZ and is now offering a fixed home loan rate under 4%

[The Wrap] Bank D-Day looming

2 November 2018 - Instead of reflecting back on the week, it seems all eyes are on next week. On Monday, at 2pm, the Financial Markets Authority and Reserve Bank will release their joint report into the conduct of banks in New Zealand.

BNZ profits soar as home loans increase

1 November 2018 - Lender BNZ says statutory net profit rose to $1.09 billion in the year to September, a 10% increase on last year as housing lending grew by over 6%.

LVR easing talk grows

12 October 2018 - Investors might soon get a break if the Reserve Bank relaxes the LVR restrictions in its next Financial Stability Report as some economists are suggesting it will.

BNZ joins Kiwibuild buyer battle

26 September 2018 - BNZ is rivalling ASB with a special offer for Kiwibuild home buyers, including 95 percent loans for the government-backed homes.

BNZ splits wealth team

11 September 2018 - BNZ is making changes to its wealth team.

Mortgage fraudsters jailed

3 August 2018 - A former BNZ banker and a lawyer have been handed jail terms for committing a $54 million mortgage fraud in Auckland and Hamilton.

Ombudsman sees drop in mortgage cases

26 July 2018 - A new report from the Banking Ombudsman suggests New Zealand's lenders are doing a better job selling mortgages to customers.

Mortgage Express adds experience to Auckland office

24 July 2018 - Adviser group Mortgage Express has hired former BNZ business development executive Pete Fenwick to its Auckland office.

Guilty verdict for mortgage fraud trio

15 June 2018 - A former BNZ employee, a lawyer and the wife of a property developer have been found guilty of involvement in a $54 million mortgage fraud case.  

All eyes on Orr in lead-up to OCR call

4 May 2018 - Thursday’s monetary policy statement (MPS) is the most keenly anticipated Reserve Bank outing in many months – but it’s due to the new Governor, not the OCR outlook.

BNZ on mortgage advisers; Westpac cuts

4 May 2018 - BNZ is seeing significantly increased home loan business from mortgage advisers, but it doesn't intend to grow the channel to the same size as its well-established...

BNZ grows advisers flows but keeps them low

4 May 2018 - BNZ is seeing strong flows from mortgage advisers, however it doesn’t plan to make the channel as big as some of its competitors.

Bank boss backs AFAs and says no to Royal Commission

4 May 2018 - BNZ chief executive Angie Mentis, like her counterpart at ANZ, says there is no need for a Royal Commission in New Zealand and one of the reasons she cites is the existence of AFAs.

Mortgage People founders launch online brokerage

18 April 2018 - The two industry veterans behind Mortgage People, Carey Brunel and Glenn Christie, have launched a new online mortgage adviser and price comparison site.

Tech firm to visit NZ ahead of electronic lodgement launch

9 April 2018 - Mortgage technology firm Simpology is set to visit New Zealand next month to help with the roll-out of BNZ’s long-awaited electronic lodgement system.

Prison sentence for mortgage fraudster

9 February 2018 - Involvement in a $50 million mortgage fraud scheme has earned an Auckland property developer nearly five years in prison.

Low interest rates set to continue

8 February 2018 - Interest rates look set to remain low for a considerable amount of time following the Reserve Bank’s Monetary Policy Statement (MPS) and OCR call this morning.

Rethinking retirement assumptions

2 February 2018 - Advances in healthcare and technology have improved life expectancy in New Zealand at a staggering rate – by almost two years every decade since 1960.  Investors retiring at 65 should be preparing for a long retirement.  In this commentary John Berry asks how long should advisers target for their clients’ savings to last, and do historic assumptions for growth asset allocations for retirees need a rethink?

BNZ changes adviser commission model

1 February 2018 - BNZ, which has only recently re-entered the mortgage adviser market after a long absence, has changed the way it pays its upfront and trail commissions...

BNZ move puts pressure on other banks

1 February 2018 - Changes to BNZ’s mortgage adviser commission structure are acknowledgement of the ongoing client management work they do, industry veterans say.

Guilty plea from mortgage fraudster

23 January 2018 - One of the accused in a $50 million mortgage fraud case has admitted to multiple charges under the Crimes Act, it has been revealed.

Focus on financial crime

12 December 2017 - The New Zealand Police Financial Intelligence Unit (FIU) and the five major New Zealand banks are to run a year-long pilot of the New Zealand Financial...

LVR changes won’t prompt market frenzy

4 December 2017 - The Reserve Bank’s easing of the LVRs could give some upward momentum to house prices but economists are not expecting the market to take off again.

LVR speculation rife ahead of FSR

28 November 2017 - Expectations that the Reserve Bank might loosen the LVRs in this week’s Financial Stability Report (FSR) are running high, but economists don’t think it will happen – yet.

Digital threat to mortgage advisers

27 November 2017 - All three banks who have reported results recently have highlighted their push into digital tools to grow their businesses. This provides a threat and an opportunity to mortgage advisers. Philip Macalister explains.

Staunch opposition to DTI proposal

24 November 2017 - Opposition to the inclusion of debt-to-income ratios (DTIs) in the Reserve Bank’s macro prudential tool kit is widespread, the bank’s own consultation reveals.

Bank credit rationing a myth: Healy

24 November 2017 - The common refrain heard from mortgage advisers is that banks are rationing credit, making it hard to get mortgages approved. But banks deny that's happening and blame the Reserve Bank.

New board at FSC

17 November 2017 - The Financial Services Council has elected a new board at its recent annual meeting. Chief executive Richard Klipin said the FSC is in good shape financially...

BNZ first bank to market with online lodgement tool

13 November 2017 - BNZ is set to launch an electronic lodgement process to help advisers and improve turnaround times on loan applications.

Sunny MPS surprises some

9 November 2017 - Optimism was the order of the day today, with RBNZ releasing a Monetary Policy Statement (MPS) that was most notable for its positivity.

Time for Normalisation?

6 November 2017 - BNZ Head of Research Stephen Toplis contemplates the Reserve Bank's next move and suggests maybe it it time for normalisation.

Advisers save BNZ's market share

3 November 2017 - Outgoing BNZ chief executive Anthony Healy has described the bank’s latest results as “satisfying”.

OCR stable . . . for now

3 November 2017 - [OCR Preview] Economists are confident the Reserve Bank won't move the Official Cash Rate off it's historical lows next week, but there is an emerging divergence of views about what will happen in the future now there is a new government in power.

BNZ boss does a job swap

2 November 2017 - BNZ's chief executive is handing over, and taking a role with parent NAB.

Change is coming

26 October 2017 - Thanks to all the advisers who turned up to TMM's first conference totally dedicated to mortgage advice. We've had great feedback to the event, held at...

Looking ahead with new government

20 October 2017 - New Zealand’s new government will be a Labour-NZ First coalition, supported by the Green Party, and that means changes are looming that advisers need to be aware of.

BNZ signs on to AML tool

18 October 2017 - BNZ has signed on as one of the first customers of Intel’s Saffron AML Advisor tool, an AI offer designed to help financial institutions keep on top...

FMA fast-tracks roboadvice

18 October 2017 - Advisers can expect to see roboadvice in the New Zealand market next year, and the country’s banks and product providers are already developing their platforms.

Ex BNZ worker admits mortgage fraud

6 September 2017 - A former BNZ mobile mortgage manager has admitted to dishonestly using bank documents to obtain more than $1.5 million in loans for two properties.

LVRs are not going anywhere

21 August 2017 - There is no compelling case to roll back the Reserve Bank’s LVRs despite the slowing of the housing market, according to Westpac economists.

No dovish nod to future for RBNZ

10 August 2017 - The Reserve Bank’s OCR statement made it clear hikes are a long way off but its tone was still far less dovish than economists were expecting.

Future could hold OCR cuts

6 August 2017 - Think the OCR will stay on hold this week? So do economists – but some also say there is growing scope for the Reserve Bank to cut again.

Decline in banking sector profits - KPMG

12 July 2017 - Bank profits dropped in the first part of this year – despite the housing loan driven growth of their loan books.

Mortgage fraud charges for group

6 July 2017 - Name suppression has been lifted in a Serious Fraud Office (SFO) case which relates to a number of alleged mortgage frauds by an Auckland resident and his associates.

Hawkish talk foreshadows rate rises

5 July 2017 - Tightening talk is coming from central banks around the world – although not New Zealand’s – and that means more interest rate movement is on the cards.

Is the writing on the wall for handwritten loan apps?

15 June 2017 - Handwritten loan applications may be on the way out for ANZ but are any of the other banks rushing to follow suit?

BNZ scoops People’s Choice award

25 May 2017 - BNZ has topped the latest Consumer NZ KiwiSaver survey and been named the 2017 People’s Choice winner for KiwiSaver providers.

BNZ says brokers generated $900m growth

4 May 2017 - BNZ chief executive Anthony Healy has credited its broker channel with helping the bank achieve sustainable growth in its mortgage book.

Rate rises not prompting action

10 April 2017 - Most mortgage holders expect interest rates to rise this year – but they aren’t planning to do anything about it, new BNZ research reveals.

BNZ adopts ethical screen on investments

23 March 2017 - BNZ has announced it will drop its investments in companies involved in the production of cluster munitions, anti-personnel mines, nuclear weapons and tobacco or tobacco products.

Banks to clamp down on cashbacks

10 February 2017 - Advisers may find it a lot tougher to get their clients cash back this year as banks clamp down on sweeteners.

Banks of the future may offer customers less choice

10 February 2017 - New report says the way forward for banking may be to target a niche group of customers and offer a smaller range of easier-to-understand products, particularly mortgages.

Progress of DTIs stalls

13 December 2016 - Prospective debt-to-income ratios (DTIs) have hit a stumbling block on the road to their arrival due to Finance Minister Bill English’s ascension to Prime Minister.

Another bank increases rates

21 November 2016 - With long-term yields rising post the election of Donald Trump as US President, home loan rates in New Zealand continue to inch up. BNZ is the latest to...

Post-earthquake OCR cut unlikely

18 November 2016 - Don’t expect the Reserve Bank to cut the OCR again following the earthquakes earlier this week - despite the damage and disruption they have caused, economists say.

Don't expect rates to fall on back of OCR cut

10 November 2016 - Although the Reserve Bank cut the official cash rate to a historical low of 1.75% none of the banks have passed on any of this decrease to customers.

OCR cut no surprise

10 November 2016 - Reserve Bank switches to a more neutral stance as it cuts interest rates.

Mortgage adviser market pays off for BNZ

31 October 2016 - BNZ says it's move back into the mortgage adviser market has arrested its slide in home loan market share. Read more.  ...

Brokers write 40% of BNZ loans

28 October 2016 - BNZ says it's move back into the mortgage adviser market has arrested its slide in home loan market share.

Next OCR cut to be the last - ANZ

26 October 2016 - The OCR should trough at 1.75% in November as the Reserve Bank’s next cut is likely to be the last one in the current cycle, ANZ has suggested.

Banks tackle KiwiSaver advice question

12 October 2016 - Banks are hoping more guidance from the Financial Markets Authority will make it easier for them to advise their clients on switching between KiwiSaver funds and providers.

New LVR rules kick in

3 October 2016 - Banks have had to cancel some preapprovals for investors, which were issued before the recent change to loan-to-value restrictions.

The “Affordability” of Unaffordable Homes

30 September 2016 - We all seem to agree. New Zealand home prices look extremely high. But if they are so grossly unaffordable then how come so many people are willing and able to buy them? 

BNZ moves rates; Foreign buyer report called misleading

2 August 2016 - BNZ has tweaked its one and two year Special Rates, increasing them. Meanwhile, the second report on the tax residency of people buying property in New...

Banks tighten belt on foreign borrowing

14 June 2016 - Home loans for overseas buyers have become more difficult as ASB is the latest bank to limit its foreign borrowing. Read more. ...

ASB joins other main banks in limiting foreign borrowing

13 June 2016 - ASB has joined Westpac, BNZ and ANZ in making it tougher for overseas purchasers to get a home loan.

Financial stability reason for unchanged OCR

9 June 2016 - The Reserve Bank may have left the OCR unchanged – due to a more upbeat economic assessment - this morning, but economists continue to expect a further cut to come.

OCR on hold till August - HSBC

30 May 2016 - Strong growth and a booming housing market mean that HSBC now expects the Reserve Bank to hold off on an OCR cut until August.

Tactical guessing game

24 May 2016 - Reasons for the Reserve Bank not to cut the OCR in June are compelling but it’s a guessing game, according to some economists.

TSB's new rate; BNZ's broker business revealed

9 May 2016 - In rates news TSB has a new six month special. Over on our mortgage adviser site TMMOnline.nz we report on how much business BNZ has written with...

BNZ reveals how much broker business it has banked

6 May 2016 - BNZ chief executive Anthony Healy says the bank's re-entry to the broker market has gone well and it should have gone in earlier.

BNZ's profits down

5 May 2016 - BNZ cash earnings dropped 3% in the six months to March 31, taking a hit from on its rural loan book and seeing its net interest margin shrink.[More later...

Odds against OCR cut

22 April 2016 - An OCR cut this week is a live call, but most economists think the Reserve Bank will wait a bit longer before cutting again.

Predicting the RBNZ's next OCR announcement a head scratcher

13 April 2016 - It's just over a fortnight now until the Reserve Bank makes its next Official Cash Rate announcement. After the surprise cut last time and a mixed bag of economic news since then, economists are scratching their heads to try and predict if the OCR will stay at 2.25% or be cut.

BNZ signs up second dealer group

21 March 2016 - BNZ, which entered the broker market last year, has inked a deal with a second dealer group which adds another 80 advisers to its growing network.

BNZ working out its wider roll out strategy to advisers

9 March 2016 - BNZ has taken on its next tranche of NZ Financial Services Group advisers bringing the total number of accredited brokers to 370.

Banks offer value: Morningstar

2 March 2016 - Morningstar says investor negativity about Australasian banks is misplaced.

BNZ makes interesting rate changes

1 March 2016 - BNZ has raised the rates on two of its three "Specials" but cut some standard rates. The two and three year specials have gone up 10 and 15 basis points...

Banks cut cash PIEs to half OCR

9 February 2016 - Low interest rates on offer from the four main banks’ cash PIE funds are likely an indication of the tough times for people surviving on money in the bank, one commentator says.

Banks cut cash PIEs to half OCR

9 February 2016 - Low interest rates on offer from the four main banks’ cash PIE funds are likely just an indication of the tough times for people surviving on money in the bank, one commentator says.

BNZ makes third party distribution appointment

10 December 2015 - Adam Ward has been appointed head of third party banking at BNZ Prior to this role he was Regional Manager West Auckland, North Shore and Northland at...

Broker channel working for BNZ

28 October 2015 - BNZ’s decision to resume distribution of home loans through mortgage advisers has gone better than expected. While the bank hasn't disclosed the volume of business it has written it has confirmed TMM Online's figures are correct.  

New KiwiSaver fund for house buyers

16 September 2015 - BNZ is launching a new KiwiSaver First-Home Buyer Fund.

Lending up but profits flat

7 September 2015 - New Zealand’s five major banks* profits flattened in the second quarter of 2015, although lending growth continued, according to a new analysis by PricewaterhouseCoopers (PWC).

BNZ rate will get brokers' phones ringing

4 September 2015 - UPDATED A record low interest rate in the home loan market is likely to drive inquiries to brokers, it has been claimed.

Property prices to blame for S&P downgrade

18 August 2015 - Rampant Auckland property prices – as opposed to the banking and finance system itself - are to blame for Standard & Poor’s downgrading of New Zealand’s risk assessment.

The numbers BNZ are disclosing

29 June 2015 - BNZ says it is well ahead of target with its re-entry into the mortgage adviser market.

Banks net interest income falls - PwC

24 June 2015 - A decrease in the net interest income of New Zealand’s major banks reflects the current highly competitive lending environment.

Today's yield curve

15 June 2015 - Today we have compared standard home loan rates from five lenders. The results are interesting.

BNZ makes big cut

12 June 2015 - While lenders are cutting their floating rates 25 basis points in response to yesterday's OCR cut, BNZ has gone even further. Its has the rate on its offset...

BNZ's starts re-entry

9 June 2015 - BNZ’s re-entry into the mortgage adviser space after a 12-year absence has started well.

BNZ rolls out new Special

11 May 2015 - BNZ has launched a new two-year Special rate of 5.15%. To see how it compares we have sorted the rates table from lowest to highest here.   ...

BNZ banks on brokers

7 May 2015 - BNZ has produced a “very strong” result in the six months to March 31, with net profit up almost 28% to $502 million for the period. Chief executive Anthony Healy talks to TMM Online about BNZ's plans to return to the broker market after a 12-year absence.

Second stage in no interest loans launched

28 April 2015 - BNZ, Good Shepherd NZ, Ministry of Social Development and The Salvation Army have launched the second stage of their successful Community Finance initiative – the No Interest Loan Scheme (NILS).

[People] Chen changes BNZ board

21 April 2015 - Prominent lawyer Mai Chen has been appointed to the BNZ board of directors.

BNZ Special ends; Kiwibank cuts

20 April 2015 - BNZ has removed its two-year special rate and Kiwibank has reduced its carded one-year rate 10 points and its three-year special 16 points. ...

BNZ's back for brokers with trail commission

10 April 2015 - BNZ will officially return to the mortgage adviser market after controversially leaving it 12 years ago.

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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 4.95 - - -
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 2.95 3.45 -
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 ▼2.45 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 3.35 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 3.29 3.45 3.59
TSB Special 4.54 2.49 2.65 2.79
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.15 3.29 3.39
Westpac - Offset 4.59 - - -
Westpac Special - 2.55 2.69 2.79
Median 4.55 3.00 3.13 3.02

Last updated: 21 September 2020 10:48am

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