Articles tagged with 'mortgages'
Half of household income going to the mortgage
14 August 2024 - Mortgage payments are swallowing more than half of the median household income.
Financial Services Federation targets mortgage advisers as affiliate members
19 July 2024 - The Financial Services Federation, which mostly represents non-bank financiers, has started signing up mortgage advisers as affiliate members.
Mergers and acquisitions expand North Shore mortgage business
1 May 2024 - Takapuna-based mortgage company adviceHQ is expanding.
Lending for low deposit mortgages rises
30 April 2024 - Half of the mortgages written by Christchurch-based New Zealand Mortgages are for buyers with a 5% deposit.
Move to short term but higher rates; New aggregator for Vega
23 April 2024 - Short term fixed rate loans surged in the first few months of the year. [READ ON] Vega Mortgages is joining forces with the nation’s newest aggregator...
Impaired loans mounting
3 April 2024 - Distressed housing loans are continuing to rise, February’s monthly figures from the Reserve Bank show, while across the banking system impaired loans have topped $4 billion as the economy worsens.
Mortgage figures show encouraging signs of growth
28 March 2024 - Mortgage lending has risen 28% since the disastrous February of last year when just $3.8 billion was lent – the lowest February figure since the Reserve Bank started data collection in 2014.
Mortgage arrears rising but still low
5 March 2024 - The number of homeowners behind in their mortgage repayments hit more than 21,800 last month, data from credit company Centrix show.
Mortgage lending grows but still soft
4 March 2024 - New Reserve Bank mortgage figures show $3.4 billion of mortgage lending in January.
Mortgage and loan repayment arrears rise sends a worrying signal to the market
1 February 2024 - High interest rates and cost of living have pushed mortgage arrears to a near four year high. [READ ON] This morning Unity has gone live with a new...
Mortgage and loan repayment arrears rise
1 February 2024 - High interest rates and cost of living have pushed mortgage arrears to a near four year high.
ANZ&BNZ increase interest rates again; Recovery in mortgage lending expected in next six months
25 October 2023 - The country’s banks are expecting a significant recovery in demand for mortgages over the next six months if interest deductibility is restored for...
Recovery in mortgage lending expected in next six months
25 October 2023 - The country’s banks are expecting a significant recovery in demand for mortgages over the next six months if interest deductibility is restored for investors buying rental properties.
Refinancing becoming a hot option for borrowers
19 October 2023 - As higher interest rates bite, 37% of mortgage advisers say they are getting more inquiries about refinancing.
Mortgage lending make-up revealed
28 August 2023 - New and interesting figures have been released by the Reserve Bank on the reasons behind new residential mortgage lending.
Mortgage borrowing hits a high
2 August 2023 - Mortgage borrowing hit $350 billion for the first time in June.
First home buyers’ mortgage market share hits a record
28 July 2023 - The share of new mortgages to first home buyers rose for the third consecutive month to 24.4% last month, up slightly from 24.3% in May, the latest Reserve Bank figures show.
How much you need in today's market to avoid mortgage stress?
30 May 2023 - Auckland households need to earn a whopping $219,000 to repay the mortgage and avoid financial stress. The next most expensive geographical area is the...
Demand for mortgages continues to decline: RBNZ
24 April 2023 - Demand for mortgages fell sharply in the last six months, reflecting higher interest rates and the perception that house prices would fall further, according to the Reserve Bank’s latest half-yearly survey of banks.
Mortgage payments rearranged as living costs spiral
19 April 2023 - New research from Canstar shows that nearly one in five mortgage holders have negotiated with their bank to find ways to reduce their mortgage payments.
The refinancing wave – the good, bad and ugly
28 March 2023 - The steady flow of existing mortgage borrowers having to stomach higher interest rates recently has been a theme in property and personal finance for some time.
Mortgage pressures put squeeze on repayments
21 March 2023 - As interest rates have risen, Kiwis have pulled back from overpaying their mortgages, the latest Canstar Consumer Pulse Report shows.
Entire mortgage industry at stake from unethical behaviour
22 August 2022 - Mortgage advisers have been told they risk causing damage to the entire industry if they engage in unethical behaviour themselves.
New mortgage lending still slim
6 May 2022 - Investors are still sitting on the sidelines of the residential housing market.
Mortgage applications plummet
3 May 2022 - The credit reporting company Centrix says Omicron and looming inflation are sapping consumer confidence.
Reverse mortgages set new record
8 April 2022 - New Zealand's leading Home Equity Release (HER) provider has just passed a milestone.
Northland Mortgage veteran considers quitting over 'compliance nightmare'
4 April 2022 - A 44 year veteran of the lending business is considering putting away his shingle because the industry has taken the wrong direction.
Non-banks to be run off their feet
3 December 2021 - Non-bank lenders will be run off their feet in the coming months, partly because banks are too traditional, according to economist Cameron Bagrie.
ANZ changes its call on OCR hikes
20 October 2021 - ANZ has changed its forecasts for the OCR adding in to additional hikes and expecting the cash rate to hit 2%.
Mortgage interest rates: Big step up predicted
7 October 2021 - Mortgage interest rates could be pushing 4% by the end of next year – on one and two year rates – and 4.5% into 2023, says CoreLogic.
Mortgage rates expected to be at 4% plus within a year
1 October 2021 - ASB economists expect mortgage interest rates to be at just over 4% in a year.
Investors continue to shy away from buying more property
23 September 2021 - A net 56% of mortgage advisers are seeing fewer investors stepping forward for mortgage advice, data from the First Mortgage Trust and Tony Alexander September survey shows.
Major rate hikes at big four banks
16 September 2021 - ASB has hiked mortgage rates by up to 30 basis points this morning, a significant move likely to trigger further market increases. ANZ has also raised pricing on a range of fixed terms.
Investor mortgage lending waning
12 August 2021 - Interest-only lending to investors has dropped as a percentage of overall mortgage lending.
Vendor demands heighten risk for movers
4 August 2021 - Vendor demands for cash unconditional offers and auctions are forcing owner-occupiers to take on significant risks to move up the property ladder, according to advisers.
Reserve Bank gets serious about 'risky lending'
3 August 2021 - The Reserve Bank of New Zealand is looking at ways to tighten up mortgage lending standards in another effort to slow down a rampant housing market.
Clients switching to three-year terms
27 July 2021 - Mortgage adviser clients are choosing three-year fixed mortgages in anticipation of rising interest rates, according to a new survey.
Mortgage lending boom continues through June
26 July 2021 - The home lending market remains red hot months on from the Government's housing market reforms, with June lending surpassing $8.5 billion.
Client concern over rate rises
20 July 2021 - Clients have raised concerns with advisers about the rising interest rate environment, with home loan rates expected to increase further over the rest of the year.
Kiwibank cuts two-year rate, raises others
16 July 2021 - Kiwibank has slashed its two-year fixed mortgage by six basis points but has raised its variable rate, revolving credit rate, and 1,3,4, and 5 year terms.
Investors urged to bolt in long-term rates
13 July 2021 - With high inflation just around the corner, ANZ Bank, the country’s biggest mortgage lender, says mortgaged property investors would be wise to fix at least some of their borrowings at longer-term rates.
Mortgage strategy dilemma
9 July 2021 - Borrowers could be better off fixing low-cost short term mortgages and rolling them over a five year horizon, despite expectations of rising interest rates, according to ASB.
Mortgage lending holds up in May
28 June 2021 - Mortgage borrowing hit $8.9 billion last month as investors, first home buyers, and other owner-occupiers remained active despite record house prices and new lending restrictions.
Fix rates now bank urges
23 June 2021 - Dampening investor demand isn’t slowing the monthly pace of house price inflation, says ANZ’s latest Property Focus.
Mortgage growth drives record bank profits
23 June 2021 - Strong mortgage lending drove banking profits to record levels in the first three months of the year, according to a new report from KPMG.
Investor activity falls
22 June 2021 - More than half of mortgage advisers reported a decrease in investor activity over the past month, according to a new survey from economist Tony Alexander.
Turnaround times slow to improve
14 June 2021 - The slight fall in mortgage lending activity in recent months has not yet translated to a meaningful improvement in turnaround times, according to advisers.
Mortgage lending falls in April
27 May 2021 - Mortgage lending fell by $2 billion month-on-month in April as the Government's housing reforms began to cool the market.
Short-term interest rates drop - long-term loans on the up
27 April 2021 - Major New Zealand mortgage lenders have dropped rates on short-term loans but have raised rates for longer-term lending as inflation pressure slowly starts to build in the local market.
Fixing still in borrowers best interests
22 March 2021 - The entire structure of average mortgage rates sits at record lows – but ANZ is warning borrowers nothing lasts forever.
Focus on commission disclosure
22 March 2021 - Advisers will need to do a better job of explaining their no-fee, no-obligation model under the new regulatory regime, according to adviser Hamish Patel.
Fund opens housing development options
18 March 2021 - Second tier lender Pearlfisher Capital has launched a new first mortgage fund for lending to property developers.
Record lending in January: Reserve Bank data shows
17 March 2021 - Newly-released data from the Reserve Bank shows that mortgage lending surpassed $6 billion in January, the highest ever total for that month.
Time to lock in long-term rates?
8 March 2021 - Record low mortgage rates will remain in place for much of this year, but some borrowers could be better off locking in long-term loans, say ASB economists.
Reserve Bank eyes DTIs
26 November 2020 - Reserve Bank governor Adrian Orr has revealed that the central bank would like to introduce debt-to-income ratio limits on mortgage lending.
Financial Stability Report: DTI and high-risk lending a concern
25 November 2020 - The Reserve Bank's latest Financial Stability Report highlights rising debt-to-income ratios and high LVR lending as the main risks in the New Zealand mortgage market.
How many people are still asking for home loan help?
24 November 2020 - While it has been several months since our last lockdown, a steady stream of people continue to ask for help on their home and business loans.
Heartland online floating rate falls to 2.5%
9 November 2020 - Heartland has slashed its online floating rate to 2.5% – the lowest variable rate on offer in New Zealand.
Cash backs are back
6 November 2020 - Cash backs are returning to pre-Covid levels across the main banks, advisers say, amid strong competition for high quality borrowers in the housing boom.
ASB using branches for broker applications
5 November 2020 - ASB has become the latest bank to send adviser home loan applications to branches for completion, as it tries to reduce a backlog of deals.
Strong market attracting investors
4 November 2020 - There has been a jump in investor demand and activity over the last month, according to the latest REINZ/Tony Alexander survey of real estate agents.
COMMENT: Dunedin’s slowdown might last
22 October 2020 - Dunedin’s loss of value growth momentum in recent months could be a longer lasting trend, writes CoreLogic senior property economist Kelvin Davidson.
High LVR investor lending up 134%
21 October 2020 - Investors have taken advantage of relaxed loan to value ratio restrictions to borrow 134% more on high LVR terms, analysis from ASB reveals.
COMMENT: Is a post-election market surge likely?
20 October 2020 - Will the 2020 post-election period see the usual effect on housing, or will it be another anomaly, asks REINZ chief executive Bindi Norwell.
Negative OCR still needed - Westpac
20 October 2020 - Despite fears of an overheated housing market, Westpac economists believe the Reserve Bank will still need to lower the official cash rate next year.
Something’s gotta give on prices
16 October 2020 - House prices are on a relentless march upwards and BNZ is warning that “over-zealous investors” could push them to non-sustainable levels.
LVR limits will return for investors
16 October 2020 - The odds of LVR restrictions returning for investors next year are "fairly high" due to the strength of the residential property market, according to economist Tony Alexander.
Tough conditions for self-employed borrowers
14 October 2020 - Advisers say that the self-employed are bearing the brunt of tight lending conditions, with banks concerned about the long-term impact of Covid-19.
Sales, prices skyrocket in defiant market
13 October 2020 - It’s official: New Zealand’s housing market is going crazy – and the skyrocketing prices have left economists revising their forecasts and worried it heralds a new bubble.
Q&A: Why Heartland launched a sub-2% rate
12 October 2020 - Heartland has launched New Zealand's lowest ever mortgage rate. Here's why the group is taking on the big banks.
Heartland launches market-leading 1.99% mortgage
12 October 2020 - Heartland has relaunched its direct-to-consumer mortgage with a record-low one year rate of 1.99%.
Are returning Kiwis really a market driver?
6 October 2020 - Returning New Zealanders have been touted as a major driver of housing demand going forward, but some think the flood has ended – and that will impact on the market.
Frustration over home loan processing
5 October 2020 - Mortgage advisers say their turnaround times continue to be much slower than direct home loan applications, leading to frustration across the industry.
Booming sales in the Super City
2 October 2020 - Market activity is not letting up in Auckland with the city’s biggest real estate agency announcing that September saw the highest number of sales in a month since 2017.
Southland is tops for investors
25 September 2020 - It seems you can’t just beat Southland for high performing investment properties, with the region coming up trumps yet again in a new REINZ report.
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.
High demand keeps pushing prices up
18 September 2020 - Treasury might be expecting house prices to fall - but market data suggests otherwise, with Trade Me Property’s August data the latest to show rising prices and high demand.
COMMENT: Never a right time to invest – why buyers need to act now
16 September 2020 - New Zealanders who are apprehensive about buying property should be spurred on to take the jump as record low mortgage rates and a lesson from the current world backdrop settle in, argues iConsult’s Satyan Mehra*.
Are branch customers getting preferential treatment?
15 September 2020 - Advisers fear major banks are prioritising direct mortgage applications over broker-led home loans, as turnaround times worsen.
Expect house prices to keep rising - Westpac
14 September 2020 - House prices are set to keep going up rather than down, one of the big banks now says – after reversing its earlier predictions of price declines.
Interest rates not bargains driving investors
9 September 2020 - Investors’ hopes of picking up a property bargain in the post-Covid market are fading, the latest joint survey from REINZ and economist Tony Alexander reveals.
Westpac not budging on investor LVR
7 September 2020 - Westpac is sticking to its 70% loan-to-value ratio limit for investor mortgages, despite rival banks loosening up following the end of LVR restrictions.
High consent issuance not expected to continue
1 September 2020 - Over 10,000 new dwelling consents were issued in the three months to July, a rolling total not seen since the 1970s. But economists don’t expect the trend to continue.
Market holds firm in Covid-19 storm
1 September 2020 - Covid-19 has not led to the bottom dropping out of the housing market, as some predicted. Rather housing values have held pretty firmly, particularly in provincial and rural areas.
Buyer sentiment at eight year high
28 August 2020 - More people now believe that it is a good time to buy a house than at any other time since 2012, ASB’s latest Housing Confidence Survey reveals.
Clouds remain over housing market
27 August 2020 - Falling mortgage rates will provide support to the housing market over the coming year – but a weakening of the market is still on the cards, according to bank economists.
Borrowing boom in July – before second lockdown
26 August 2020 - Home lending soared to $6.5 billion in July during New Zealand's Covid-free period, reaching its highest level since November last year.
Borrowing boom in July – before second lockdown
26 August 2020 - Home lending soared to $6.5 billion in July during New Zealand's Covid-free period, reaching its highest level since November last year.
Sub-2% mortgages to boost house prices: ASB
26 August 2020 - Home loan rates will plummet to 2% in the next year, with low rates set to push up house prices, according to ASB.
Mixed response to Business Finance Guarantee Scheme
24 August 2020 - The Government has extended its Business Finance Guarantee Scheme but advisers say the programme has not been popular with clients so far.
Investors' market share on the rise
20 August 2020 - Concerns about the rising costs of being a landlord aren’t deterring investors with new data showing that mortgaged investors’ share of purchases surged to a four year high in July.
Mortgage deferral scheme extended to March
17 August 2020 - The Reserve Bank has confirmed the mortgage deferral scheme will be extended until March next year following the second Covid-19 prompted lockdown in Auckland.
Deferral scheme extended to March
17 August 2020 - The Reserve Bank has confirmed the mortgage deferral scheme will be extended until March next year following the second lockdown in Auckland.
COMMENT: Real estate possible at level three
17 August 2020 - Never fear property buyers and sellers - alert level three is still workable for the Auckland real estate market, according to Century 21 owner Derryn Mayne.
Covid-19 return could derail market boom
14 August 2020 - The housing market was booming in July with price and sales up nationwide, new REINZ data shows, but the return of Covid-19 raises questions of how the market will fare going forward.
Why mortgage rates are likely to fall even lower
13 August 2020 - Home loan rates are already at record lows, but economists at ASB predict interest rates will plummet even further in the coming months.
Mortgage deferral programme to be extended
12 August 2020 - Reserve Bank governor Adrian Orr says the mortgage deferral programme will be extended beyond September, as the Covid-19 pandemic regains a grip on New Zealand.
Mortgage deferral programme to be extended: Orr
12 August 2020 - Reserve Bank governor Adrian Orr says the mortgage deferral programme will be extended beyond September, as the Covid-19 pandemic regains a grip on New Zealand.
The return of Covid-19: what it means for landlords
12 August 2020 - After 102 days, Covid-19 is back and that means Auckland is returning to alert level three, while the rest of New Zealand will go to alert level two, on Wednesday. So what does that mean for landlords?
Advisers prepare for second lockdown
12 August 2020 - Mortgage advisers are preparing to run their businesses under lockdown once again as Auckland goes into alert level three at midday.
How elections impact on the market
11 August 2020 - Elections have an impact on property market activity, don’t they? Actually - it depends, new Colliers International research suggests.
Borrowers pay down home loans in lockdown
6 August 2020 - Westpac claims many of its customers used the Covid-19 lockdown to make additional repayments on their mortgages.
Is the market resurgence coming to an end?
5 August 2020 - Steady declines in value growth are becoming evident – as QV’s latest data reveals – and that suggests the housing market’s resurgence could be coming to an end.
Resimac slashes prime rates
4 August 2020 - Non-bank Resimac has slashed prime rates to new lows as it pushes to take business from traditional lenders.
ANZ eases servicing test
4 August 2020 - ANZ has become the latest bank to ease its servicing test criteria for borrowers, reflecting the lower interest rate environment.
ANZ eases servicing test
4 August 2020 - ANZ has become the latest bank to ease its servicing test criteria for borrowers, reflecting the lower interest rate environment.
Non-banks get Covid boost
31 July 2020 - Non-bank lenders have reported a flood of new customers turned away by the banks in the wake of the Covid-19 pandemic, as traditional lenders stick to conservative credit limits.
Mortgage holidays set for extension
29 July 2020 - Minister of Finance Grant Robertson says the Reserve Bank could extend mortgage holidays for struggling borrowers.
COMMENT: Extend mortgage holidays
27 July 2020 - The Covid-19 prompted mortgage “holiday” scheme is set to end in September but Century 21 New Zealand owner Derryn Mayne is calling for it to be extended.
Home lending jumps in June
24 July 2020 - New mortgage lending jumped to $5.3 billion in June as the market recovered strongly from the Covid-19 lockdown.
Turnaround times deteriorate: survey
23 July 2020 - Turnaround times "seem to have got worse" following Covid-19, according to a new survey conducted by economist Tony Alexander.
ASB eases servicing criteria
20 July 2020 - ASB Bank has eased its lending servicing criteria after cutting home loan rates for high LVR borrowers last week.
Servicing tests hinder home loan market
17 July 2020 - Tough servicing tests continue to hinder the home loan market, leaving borrowers unable to tap into attractive headline interest rates.
Mortgage demand picked to decline
16 July 2020 - Banks are expecting a fall in demand for mortgage lending in the second half of 2020, according to a new Reserve Bank Credit Conditions Survey.
Heartland eyes relaunch of digital home loan
15 July 2020 - Heartland says its 2.89% digital mortgage product was a hit with borrowers, and could the relaunch online offering when the lending market settles down.
Sales, prices surge up - defying expectations
14 July 2020 - The housing market’s post-Covid rebound continued in June with house prices rising further and sales volumes hitting a four year high – but economists are asking if it will last.
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.
Values settle into new normal
8 July 2020 - Covid-19’s impact on the residential property market is becoming clearer with QV’s latest data showing the pre-lockdown heat is dissipating as the market begins to settle.
Westpac loan process gets the thumbs-up
7 July 2020 - Westpac's decision to process third-party loans in-branch has been a success, leading to improved turnaround times, advisers say.
Advisers buoyed by strong property market
6 July 2020 - The New Zealand property market has emerged strongly out of lockdown, according to mortgage advisers, who say they are busy as ever this winter.
Why the future is not bleak for the housing market
3 July 2020 - Uncertainty continues to cast its shadow over the housing market but economist Tony Alexander has put together a list of reasons which offset the negatives and mean the market remains well-supported.
Bank profits drop 20%
3 July 2020 - Bank profits plummeted by 20% in the three months to March, with the early impact of Covid-19 hammering the sector, according to a new report from KPMG.
Westpac scraps cash backs for high LVR loans
1 July 2020 - Westpac has scrapped cash-back offers for borrowers over 80% LVR, as lenders tighten up amid the Covid-19 economic downturn.
Signs of confidence but early days yet
30 June 2020 - Tough economic times might be ahead but a new report from REINZ shows there are some early signs of confidence in the housing market post-lockdown.
Survey reveals lending concerns
29 June 2020 - Mortgage advisers are concerned about tightening lending criteria and tough servicing tests, despite the record-low interest rate environment, according to a new survey.
Kiwibank ramps up pressure on rivals
26 June 2020 - Kiwibank chief executive Steve Jurkovich says the bank's home lending enquiries have risen by 30% since it cut floating rates, and has called on rivals to follow suit.
Mortgage borrowing rebounds in May
25 June 2020 - New mortgage borrowing rose by roughly $1.6 billion in May as the property market showed signs of recovery from the Covid-19 lockdown.
Mortgage borrowing rebounds in May
25 June 2020 - Mortgage borrowing rose by roughly $1.6 billion in May as the property market showed signs of recovery from the Covid-19 lockdown.
SuperCity yields improving
25 June 2020 - Investors take note - record low mortgage rates mean the yields on Auckland rental properties are starting to look more attractive.
S&P forecast 10% house price fall
24 June 2020 - Global ratings agency Standards & Poors is the latest to join the chorus of predictions around potential house price falls in New Zealand – and they’re picking a 10% drop.
Resimac cuts specialist floating rates
23 June 2020 - Non-bank lender Resimac has slashed rates across its range of specialist home loans, while also cutting its servicing rate.
Market outlook: what economists have to say
19 June 2020 - Recent residential housing market data has not looked to bad – but, given the grim economic forecasts, that’s a bit confusing. So here’s a round-up of economists’ latest takes on the market…
ASB eases lending policy
18 June 2020 - ASB has eased its policy for owner-occupier and investor lending, and is now offering investors up to 80% LVR.
QE could push mortgage rates even lower: ASB
17 June 2020 - Further quantitative easing from the Reserve Bank would push mortgage rates even lower, according to economists at ASB.
Southland comes up trumps for investors
17 June 2020 - Investors keen to pick up a good deal should look south as a new REINZ report shows that Southland is, once again, the country’s highest performing region for residential property investors.
New-to-bank lending freeze
17 June 2020 - Banks have stopped taking on new borrowers above 80% LVR, despite the end of loan-to-value ratio restrictions last month.
New-to-bank lending freeze
17 June 2020 - Banks have stopped taking on new borrowers above 80% LVR, despite the end of loan-to-value ratio restrictions last month.
COMMENT: Allow KiwiSaver for investment properties
16 June 2020 - It’s time to allow KiwiSaver to be used to buy investment properties as well as first homes, argues Century 21 New Zealand owner Derryn Mayne.
Kiwibank cuts 1% from floating rates, rivals cut fixed rates
11 June 2020 - Kiwibank has slashed 1% from its floating rate home and business loans, while ANZ and ICBC have made further cuts to their mortgage offerings.
Ex-Southern Cross executives start new venture
4 June 2020 - Two ex-Southern Cross Partners executives have launched a new business to help advisers secure non-bank loan for clients.
Bank LVR limits on hold
4 June 2020 - Banks have not relaxed loan-to-value ratio limits for investors, despite the Reserve Bank's move to scrap LVR rules.
ASB to help bereaved borrowers
2 June 2020 - ASB has pledged to pay customers' mortgage interest for a year if another borrower on the home loan dies.
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.
TSB relaunches price-match offer
29 May 2020 - TSB has revived its home loan price-match offer, vowing to offer rates in line with the big-four banks.
Holiday hotspots: what lies ahead?
29 May 2020 - Tourism has been one of the industries hardest-hit by the Covid-19 crisis, so Miriam Bell looks into what that means for the regional property markets that are reliant on it.
Tough servicing tests remain
29 May 2020 - Advisers have called on banks to lower servicing test rates as home loans plummet to record lows.
Reserve Bank fears loan losses and restructurings
27 May 2020 - Loan losses will rise "materially" in the coming months and households could struggle to service deferred mortgages, the Reserve Bank has warned.
Mortgage lending slumps to record low in April
26 May 2020 - Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.
Mortgage lending slumps to record low in April
26 May 2020 - Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.
Resimac eases criteria for investors
26 May 2020 - Non-bank lender Resimac has eased its credit criteria for investors as it seeks to build market share in New Zealand.
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
22 May 2020 - BNZ is sticking to a tight lending policy for mortgage borrowers, despite the Reserve Bank's decision to scrap LVR restrictions.
ANZ slashes home loan to 2.79% record low
20 May 2020 - ANZ has cut its one year special home loan rate to 2.79%, the lowest ever in the New Zealand market.
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.
OCR reaction: Reserve Bank open to lower, negative rates
13 May 2020 - Economists say that the Reserve Bank has left the door open to lower or even negative rates, as it kept the official cash rate on hold in its Monetary Policy Statement (MPS) today.
Westpac goes sub 3%, The Co-operative Bank cuts rates
12 May 2020 - Westpac has slashed its two year special home loan to 2.99%, becoming the latest major bank to drop below the 3% mark, while The Co-operative has also cut mortgage rates.
TSB drops one year rate to 2.89%, ANZ to 2.99%
11 May 2020 - TSB has slashed its one year special rate to 2.89% and ANZ has cut its one year special to 2.99%, as rates continue to fall.
Reserve Bank ends LVR restrictions
30 April 2020 - The Reserve Bank has decided to remove loan to value ratio restrictions for 12 months in response to the Covid-19 crisis.
Lending strong – before lockdown
29 April 2020 - The latest Reserve Bank data shows lending remained strong until New Zealand entered lockdown, with $6.1 billion of mortgage lending in March.
Private property viewings allowed under level three
23 April 2020 - The property market has received a boost after Housing Minister Megan Woods confirmed that private viewings will be allowed under alert level three.
Reserve Bank to scrap LVR restrictions
21 April 2020 - [UPDATED] The Reserve Bank is set to remove loan-to-value ratio restrictions on mortgages in the wake of the Covid-19 outbreak.
More relief needed for commercial property sector
16 April 2020 - New measures to help out commercial landlords and tenants struggling with Covid-19 related lease issues have been announced – but the Property Council is warning that more support is needed.
ANZ doesn’t expect low equity problems
14 April 2020 - ANZ says it is “extremely unlikely” that its customers will go above 95% LVR or into negative equity during the Covid-19 crisis.
ASB criticised over Covid-19 processing
6 April 2020 - ASB has drawn criticism for its handling of Covid-19 mortgage requests, after asking customers to go direct rather than through their adviser.
COMMENT: Making sense of it all: COVID-19, the economy & property
2 April 2020 - The Covid-19 crisis means everything is changing fast, so CoreLogic’s Kelvin Davidson* has put together his 10 key points on what to be aware of when it comes to the property market.
Bank margins under pressure: KPMG
1 April 2020 - Bank margins are under pressure amid record low interest rates and lenders may not be able to cut mortgage rates much further, according to a new report from KPMG.
What lies ahead for the housing market
31 March 2020 - As New Zealand begins to settle into the “new normal” of the Covid-19 lockdown, commentators have started releasing their (tentative) outlooks for the housing market. Here’s a summary of some of them...
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.
Landlords’ plea: don’t unfairly target us
27 March 2020 - There are growing concerns among many landlords about unreasonable expectations from tenants, and the Government, in relation to rent during the lockdown.
Advisers deal with client turmoil
26 March 2020 - Advisers say clients are asking for debt consolidation, moves to interest-only lending, and mortgage holidays, as the Covid-19 financial crisis takes hold.
Covid-19 crisis: what landlords need to know
25 March 2020 - [UPDATED] The Covid-19 crisis means that New Zealand is now in a State of National Emergency and the nationwide lockdown begins tonight.
Six-month mortgage holiday for borrowers
24 March 2020 - Borrowers affected by the coronavirus crisis will be offered a six-month mortgage holiday under new proposals drawn up by the Government.
Freeze on rent rises introduced - temporarily
23 March 2020 - The Government has introduced a freeze on rent increases on residential rental properties as part of the economic measures announced in the fight against Covid-19 and its impacts.
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%.
Kiwibank cuts one year fixed rate
19 March 2020 - Kiwibank is the second bank to slash fixed rates after the Reserve Bank's OCR cut, dropping its one year to 3.09%.
ANZ launches record-low major bank rate
18 March 2020 - ANZ has slashed its fixed rate mortgages, launching the lowest ever one year rate offered by a major bank.
ASB slashes house price forecasts
17 March 2020 - House price growth will drop away to zero over the coming year, according to ASB who have cut their forecasts in response to the coronavirus crisis.
Banks weigh up fixed rate cuts
17 March 2020 - Most borrowers are yet to benefit from the Reserve Bank's OCR cut, but banks say they are weighing up cuts to fixed rate mortgages.
What coronavirus means for property investors
16 March 2020 - Welcome to Fortress New Zealand. The coronavirus crisis means that strict travel bans are now in force and a recession is expected. So what does that mean for property investors going forward?
New loan to boost energy-efficient housing
13 March 2020 - There’s an ongoing push towards greener, healthier homes and now Westpac is joining the drive, with a new loan product for its home loan customers.
Housing market powers on – for now
12 March 2020 - New Zealand’s housing market resurgence is showcased in new REINZ data which has the national median price at a new record and sales at a four-year high.
Affordability under pressure - ASB
12 March 2020 - Expectations that house prices will rise are at a three-year high but that means less people think now is a good time to buy a house.
Mortgage rate drop will be minor: ASB
10 March 2020 - Borrowers will only see "minor" decreases in mortgage rates if the Reserve Bank cuts the official cash rate, according to economists at ASB.
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.
Will mortgage rates fall much further?
6 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.
Heartland goes direct to customers with 2.89% mortgage
5 March 2020 - Heartland Group has launched a direct-to-consumer digital mortgage with a one year rate of just 2.89%, as it takes on the established banks.
Heartland trials digital mortgage product
5 March 2020 - Heartland Group Holdings has launched a full-on challenge to the mainstream banks by taking aim at the most competitive part of banking: the mortgage market.
Turnaround times worsen
3 March 2020 - Bank staff shortages and strong sales activity have made turnaround times worse than ever in 2020, according to advisers across the industry.
Survey reveals tight lending concerns
3 March 2020 - Tight lending criteria has emerged as one of the top concerns facing advisers and borrowers in the first months of the year, according to a new survey.
ANZ pays $29.4 million over faulty loan calculator
2 March 2020 - ANZ will pay a further $29.4 million to customers after using a faulty loan calculator between 2015 and 2016.
Record January home lending
27 February 2020 - Last month saw the highest January home lending volumes since records began, according to the latest RBNZ data.
Housing market boom won't last long: Westpac
26 February 2020 - Westpac economists say the recent boom in the housing market won't last much longer due to upward pressure on mortgage rates and a lack of funds in the banking system.
When will mortgage wars end?
19 February 2020 - Aggressive price competition for mortgages may come to an end soon as the Reserve Bank's new capital rules kick in, according to a report from KPMG.
Heartland launches reverse mortgages for investors
19 February 2020 - Heartland has expanded its reverse mortgage business and will now lend against investment properties and second homes, as the product becomes more popular in New Zealand.
Rising house prices glossed over in MPS
13 February 2020 - New Zealand’s housing market is rebounding strongly but the Reserve Bank barely mentioned it in Wednesday’s Monetary Policy Statement (MPS). That’s left one economist asking why.
Don't use KiwiSaver for investment property - yet
4 February 2020 - The Interim Retirement Commissioner’s proposal to allow KiwiSaver first-home withdrawals to be used for investment properties came tantalisingly close but didn’t quite make it to the recommendation phase.
Mortgage lending strong in December
29 January 2020 - December mortgage lending increased by more than $1 billion year-on-year, according to the latest figures from the Reserve Bank.
How to grow your client base
29 January 2020 - Five things to explore when looking to grow your client portfolio in 2020.
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.
Banks criticised over low equity premiums
21 January 2020 - Banks have drawn criticism for charging high-LVR borrowers with "low equity premiums" and failing to notify them when they can switch to better rates.
Advisers hope for servicing test changes in 2020
14 January 2020 - With plenty of positives for the housing market outlook this year, advisers hope lenders will change their approach to servicing tests.
Book excerpt: Financial Freedom - 5 Steps 5 Years
6 January 2020 - Property investment is the way to financial freedom, argues property investment mentor Lucia Xiao* in her new book which aims to help people take control of their lives. Here’s an excerpt from her book…
COMMENT: What lies ahead in 2020?
3 January 2020 - It’s that time of year when we are all contemplating what the year ahead has in store… So here’s GRA managing director Matthew Gilligan’s property market predictions for 2020.
Record prices see upturn gathering pace
13 December 2019 - New Zealand’s housing market resurgence continues to gain momentum with the latest REINZ data showing record prices around the country.
Buyer sentiment at seven year high
9 December 2019 - Housing market expectations have improved significantly in ASB’s latest Housing Confidence Survey – and record low interest rates are playing a major part in that.
Warning on borrowing rates
9 December 2019 - The Reserve Bank's new capital regime will lead to greater increases in borrowing rates than its estimate, economists have warned.
Putting the RBNZ's new capital rules into perspective
6 December 2019 - There's been a lot written about the Reserve Bank's new capital rules for banks and some of it seems to miss the mark. Here's Tarawera Publishing managing director, Philip Macalister's, take after hearing from the governor yesterday.
Advisers share top concerns
6 December 2019 - Tightening credit, bullish investors pushing FHBs out of the market, and demand outweighing supply in the housing market are key concerns for advisers according to a survey conducted by leading economist Tony Alexander.
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.
LVRs kept on hold
27 November 2019 - The Reserve Bank has kept its LVR speed limits on hold amid fears low interest rates "could lead to a resurgence in higher-risk lending".
LVR restrictions to stay put: Westpac
25 November 2019 - Westpac economists believe the Reserve Bank will keep LVR speed limits at their current levels, amid fears over house price stability.
SFO deception charges for investors
22 November 2019 - Four Auckland property investors have been charged with fraudulently obtaining millions of dollars in home loans.
Kiwibank slashes one-year mortgage to new low
15 November 2019 - Kiwibank has cut its one-year fixed term to 3.39%, a new low, despite the OCR remaining on hold.
Westpac plans turnaround time overhaul
14 November 2019 - Westpac has introduced a new mortgage approval system to cut turnaround times, sending loan applications to local branches for completion.
Southland “standout” region for investors
11 November 2019 - Investors looking for both strong capital gains and good rental yields should head to Southland – if they heed the results of new REINZ research.
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 targets prime lending growth
6 November 2019 - Non-bank lender Bluestone has announced a move into prime lending in Australia as it looks to ramp up its fledgling prime business in New Zealand.
Westpac makes $964 million profit
4 November 2019 - Westpac New Zealand has reported a net profit of $964 million in the year to September, a 3% increase on the previous year, boosted by a 5% increase in home lending.
ANZ pulling affordability lever on home loans rather than price
1 November 2019 - ANZ acting chief executive Antonia Watson talks to TMM Online about the bank's latest result, the importance of mortgage advisers and different remuneration models.
Strong September for home lending
24 October 2019 - Mortgage lending soared in September, according to Reserve Bank data, as banks loosened serviceability tests.
Pepper salts up New Zealand market
23 October 2019 - Australian non-bank lender Pepper Money has officially launched in the New Zealand market and says it offers a point of difference from its competitors.
Resimac speeds up application process
23 October 2019 - Non-bank lender Resimac has introduced desktop e-valuations to speed up the approval process for clients and advisers.
SBS targets big banks with new 2 year rate
21 October 2019 - SBS Bank has undergone a rebrand and slashed its two year rate as it aims to take on the big four lenders.
Allow KiwiSaver withdrawals for investment properties
15 October 2019 - KiwiSaver rules should be relaxed so that first home withdrawals can include investment properties, the Interim Retirement Commissioner is proposing.
Servicing test changes limited
9 October 2019 - Banks have made adjustments to serviceability tests since the Official Cash Rate cut in August, but advisers doubt whether the changes will have a big impact on pass rates.
Advisers welcome new mortgage entrant
8 October 2019 - Advisers have welcomed Simplicity's entrance into the mortgage market, but doubt whether the 2.95% home loan product will have a major impact.
Heartland hails reverse mortgage growth
4 October 2019 - New Zealand retirees are increasingly turning to reverse mortgage options, according to Heartland Bank, after the lender's New Zealand reverse mortgage book grew by 11.4%.
Experts support capital review: RBNZ
1 October 2019 - The Reserve Bank says independent international experts support its plan to introduce strict new capital rules for banks.
LVR limits slow down investors
26 September 2019 - LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.
No stopping Capital price rises
23 September 2019 - There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
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.
Reset policies will prompt price rises - Westpac
10 September 2019 - KiwiBuild “reset” policies will boost demand, rather than supply, and that will lead to house price rises, Westpac’s economists are predicting.
Bluestone's white-label loans take off with NZFSG
9 September 2019 - NZFSG advisers have embraced the company's Select Home Loans white-label product, lodging around $250 million in applications in the first couple of months.
Low deposits won’t lead to mortgage free for all
5 September 2019 - 5% deposits for first home buyers – it’s one of the centrepieces of the KiwiBuild “reset” – but advisers are asking whether it will actually make the sort of difference hoped for.
Rent-to-buy scheme key to KiwiBuild II
4 September 2019 - It’s still KiwiBuild but not as we know it after the Government announced that it was scrapping the 100,000 homes target and introducing new home ownership initiatives.
Hints of market resurgence
3 September 2019 - Lower interest rates are prompting renewed interest in the property market with Realestate.co.nz reporting a surge of activity in August.
Mortgage servicing rate cuts
2 September 2019 - Several banks have cut their servicing rates recently, with more expected to follow, and advisers believe such changes will mean more for borrowers than low rates do.
Slashing OCR has worked, economist says
28 August 2019 - The OCR is low and poised to get lower but Westpac’s chief economist doesn’t believe that means concerns about a negative OCR are warranted.
Are property investors returning to the market?
26 August 2019 - Property investors are said to be returning to the housing market, CoreLogic says but, if they are, it’s not evident in the Reserve Bank’s latest mortgage lending data.
Stronger market on the cards
13 August 2019 - Those predicting a property market crash might have to reconsider as the latest REINZ data reveals signs of an improving market nationwide, including an increase in sales activity.
DTIs still on the Reserve Bank’s radar
12 August 2019 - Almost half of Auckland first home buyers have mortgages that are over five times their annual income – and that makes debt-to-income (DTI) ratios a hot topic again.
Improvements in affordability nationwide
9 August 2019 - Lack of affordability has long been a problem for New Zealand’s housing market, but a new report suggests the tide could be turning.
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.
Asking prices defy winter odds
22 July 2019 - There’s little sign of the traditional winter slowdown in Trade Me Property’s new data with strong demand pushing asking prices up in many markets around the country.
Mum & Dad investors on the rise
18 July 2019 - Tax and housing policy changes seemed likely to deter smaller investors but new CoreLogic research shows their market share is actually increasing.
The takeover: more mortgages for FHBs
28 June 2019 - First home buyers have now taken over from investors in the mortgage lending stakes, new Reserve Bank data reveals.
It’s not just about mortgage rates
24 June 2019 - Historically low mortgage rates might boost the housing market but they are not the only factor at play in the market, according to ASB economists.
Market rebound coming - Westpac
13 June 2019 - The cancellation of a capital gains tax combined with lower mortgage rates will be game changing for the housing market, believes Westpac’s chief economist.
Golden rates age set to last
28 May 2019 - There’s no need to worry about interest rates in connection to mortgage debt for the next few years, according to Kiwibank’s chief economist.
OCR cut to boost market
9 May 2019 - New Zealand has never seen the Official Cash Rate (OCR) go so low. Now commentators are saying it will reignite the cooling embers of the property market.
Advisers may be unprepared for new regime: Johnston
6 May 2019 - Astute Financial Management CEO Sarah Johnston fears many advisers have not had “clear directions from their groups” concerning incoming changes to the Financial Advisers Act.
Investor lending weak in March
30 April 2019 - The latest Reserve Bank lending data reveals investors borrowed more than $1 billion in March, the highest figure since November, but a 10% fall on the same period last year.
New flames to fan housing market
18 April 2019 - The demise of the capital gains tax proposal and record low mortgage rates will led to a pick-up in housing demand and boost the market, ASB economists say.
Low mortgage rates vs CGT
16 April 2019 - Plunging mortgage rates will stimulate the housing market but it is the prospect of tax change that will have the bigger market impact, Westpac’s chief economist says.
Rising from the ashes
15 April 2019 - INVESTOR PROFILE: Lorraine Rishworth’s marriage breakup was the catalyst for a property investment journey that’s yielded great results and allowed her to be mortgage free in her own home.
Auckland sales at lowest since 2008
12 April 2019 - Sales in Auckland plummeted by nearly 20% to the lowest number in a March month for eleven years, new REINZ data reveals - but sales activity nationwide also took a fall.
Investor slump continues in February
27 March 2019 - The latest Reserve Bank figures show investors borrowed just $886 million in February, down on the same month in 2017 and 2018, as first home buyers narrow the gap.
Decline in new investor mortgages
22 March 2019 - New mortgage registrations for investors have continued to slide over the past year, according to the latest Property Institute/Valocity Regional Insights Report.
First home buyers close gap on investors
27 February 2019 - January mortgage lending data from the Reserve Bank reveals first home buyers continue to grow their market share, closing the gap on property investors.
Advisers play down capital gains impact
21 February 2019 - Advisers say a proposed capital gains tax on rental properties will not deter professional, long-term investors in the market.
How Australia’s Royal Commission could affect NZ investors
7 February 2019 - Shockwaves are running through Australia’s finance industry following the Royal Commission’s damning report so how could the recommendations impact on New Zealand investors?
NZ market out of step with Australia’s slump
31 January 2019 - New Zealand’s housing market might be cooling but it’s in sync with global trends – unlike the Australian market’s dramatic decline, according to a major bank.
Kiwibank brings two year rate below 4%
29 January 2019 - Kiwibank has slashed its two year fixed rate to 3.99% as New Zealand's lenders fight for a small pool of prime mortgage borrowers.
Time of change: 2019 forecast
15 January 2019 - New Zealand’s property market might be in a better place than Australia’s but investors still need to brace themselves for major change in 2019.
Mortgage lending to investors plummets
21 December 2018 - Investors may not be selling up en masse but they aren’t buying either – going by new data which shows the amount getting mortgage lending has dropped significantly.
Mortgage lending to investors plummets
20 December 2018 - Investors may not be selling up en masse but they aren’t buying either – going by new data which shows the amount getting mortgage lending has dropped significantly.
Summer bounce means record prices
14 December 2018 - House prices hit record highs around the country – apart from in Auckland where they are flat-lining, the November data from REINZ shows.
Ring-fencing Bill hits Parliament
7 December 2018 - [UPDATED] The Bill which will put an end to the practice of negative gearing on investment properties has now been introduced into Parliament.
Sales surge up in Super City
5 December 2018 - Concerns that Auckland might soon follow the Sydney and Melbourne markets in their downward spiral should be alleviated by new Barfoot & Thompson data.
Strong value growth in affordable centres
5 December 2018 - Affordability is the critical factor in the ongoing strong value growth seen in a number of markets around the country, notably Dunedin and Wellington.
Rates fall boosting housing market - Westpac
15 November 2018 - Mortgage rates have fallen to record lows recently and the housing market is perking up as result – but it won’t last, Westpac’s chief economist says.
House buyer sentiment hits 5 year high
12 November 2018 - Growing numbers of New Zealanders think the times are improving for those wanting to buy a house, ASB’s latest Housing Confidence Survey shows.
Non-banks plan second “speed dating” event
31 October 2018 - New Zealand’s non-bank lenders are to join together in Wellington for a second “speed dating” event with mortgage advisers, following the success of a first session in August.
COMMENT: Have we hit the bottom?
25 October 2018 - It looks like New Zealand's property market may have reached a floor, and the worst could be over for property market activity, argues CoreLogic's head of research Nick Goodall.
Homeloans to rebrand as RESIMAC
24 October 2018 - Australian non-bank lender Homeloans Limited and subsidiary RESIMAC are to merge under a single brand as the company continues to build market share in New Zealand.
Time to ease LVRs - ANZ
24 October 2018 - The Reserve Bank’s criteria for relaxing the existing LVRs have been sufficiently met to justify easing them further, according to ANZ economists.
Is commercial the answer?
23 October 2018 - Investors dreaming of financial freedom should look to commercial property, argues Jeff Brill who is the author of New Zealand’s first book on commercial property investment since the GFC.
First home buyers pace setters: CoreLogic
17 October 2018 - First home buyers accounted for nearly one in four residential property buyers in the September quarter, rivalling investors, according to new research.
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.
September sales at 7 year low
11 October 2018 - Sales activity nationwide is down to new lows with new REINZ data showing that September saw the lowest number of properties sold since January.
Beyond The Banks – Alternative lending options in a restricted market
2 October 2018 - Sponsored Content - When the bank says NO!
Litigation heals Mike Pero wounds
28 September 2018 - Just a few weeks ago they were at each other’s throats in court, but now Mike Pero and Mike Pero Mortgages (MPM) have kissed and made up.
Big start to the week; New owners at MX
24 September 2018 - Lots of news to kick off the week. First up, an Australian dealer group has taken a 50% stake in Mortgage Express. Here's the first of our stories on who...
Failed MPM relationship doesn’t mean deadlock
6 September 2018 - A communication breakdown and lack of trust between Mike Pero and his erstwhile business partners doesn’t constitute a deadlock, according to the lawyer representing Pero’s legal foes.
Next round in Mike Pero duel; Right peak will be lower than before
28 August 2018 - Today we have the latest in the on-going battle between Mike Pero and the companies bearing his name. [READ ON] Since the most recent Reserve Bank...
No adjournment for Mike Pero case
28 August 2018 - Mike Pero Mortgages Ltd’s attempt to get proceedings in their legal dispute with Mike Pero adjourned has failed and the scheduled hearing will go ahead next month.
RESIMAC builds market share; Bank says; We're not average
27 August 2018 - Kiwibank has released its latest results and outlined its plans for mortgage growth. [READ ON] Across in the non-bank sector RESIMAC says its growth...
RESIMAC builds non-bank market share
24 August 2018 - RESIMAC Home Loans took a bigger slice of the non-bank adviser market last year, as overall applications rose by 32%.
Judge discharges order against Mike Pero
23 August 2018 - Mike Pero has scored a small victory in his long-running legal battle against the current owners of the mortgage advisory firm that bears his name.
Consumers expect rate rise: ASB
16 August 2018 - Respondents to ASB’s latest Housing Confidence Survey expect interest rates to go up in the next 12 months, despite increasingly cautious language from the Reserve Bank.
Mike Pero v MPM $2.5 mill debt fight back in court
14 August 2018 - The long-running legal dispute over a $2.5 million debt between Mike Pero and the current owners of the mortgage advice firm that has his name has hit the courts once again.
Avanti makes major home loan changes
7 August 2018 - Avanti Finance, the non-bank lender backed by Westpac, has made a number of changes to its home loan offering as it seeks to gain market share from New Zealand’s big banks.
OCR preview: Reserve Bank tipped to remain cautious
3 August 2018 - Kiwi economists believe Reserve Bank governor Adrian Orr will sound a cautious note on the economy next week, with little chance of an OCR rate increase, and an outside chance of a cut.
Mike Pero Mortgages boss warns of “forensic underwriting”
1 August 2018 - Mike Pero Mortgages boss Mark Collins has warned lenders are conducting “forensic underwriting” on expenses when assessing loans, amid tightening credit conditions.
General Finance stock market listing moves closer
1 August 2018 - The stock market listing of non-bank lender General Finance moved a step closer this week as a deal with a listed cash shell was approved by shareholders.
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.
Small banks growth outpace big banks
18 July 2018 - New Zealand’s smaller banks have grown their lending books at a faster pace then their big four Australian-owned peers in the March quarter.
Owner occupiers better protected now: RBNZ (+ Report)
17 July 2018 - New owner-occupier mortgage holders have become less vulnerable to a housing market bust, higher interest rates or income loss since the Reserve Bank introduced the LVRs.
Mortgage lending hits two year high
28 June 2018 - Mortgage lending is flying in the face of the cooler housing market with Reserve Bank data showing May saw the highest level of new lending in nearly two years.
Co-Op Bank moves
27 June 2018 - It's The Co-operative Bank's turn to cut two and three year fixed rates today. The changes put it in line with those made by the big banks over the past...
OCR Preview: The latest outlook for interest rates
25 June 2018 - This week is OCR week, and TMMOnline has done its regular survey of economists to find out what's likely to happen with interest rates. To find out what...
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.
Kiwibank moves rates; Others adjust servicing levels
11 June 2018 - Kiwibank has increased its one-year fixed rates but made a cut to its two-year rates. Here's how it's two-year rate stacks up Banks continue to adjust...
LVR easing not on cards
30 May 2018 - Hopes that the Reserve Bank might be gearing up to ease the LVRs further have been dashed by this morning’s Financial Stability Report (FSR).
One up, one down at ANZ; Plus big profit jump
1 May 2018 - ANZ has tweaked its one and two year rates, increasing the one-year rate 10 basis points and taking 10 points off the two-year rate. The bank also released...
Property investors returning; Degrees for mortgage brokers
20 April 2018 - It's interesting to see that property investors are getting more active in the lending market again. [READ ON] Under proposed new adviser regulations mortgage...
Wide variation in stress testing thresholds
3 April 2018 - Variations in stress testing thresholds and servicing conditions between lenders can have a major impact on an applicant’s borrowing power.
LVR changes impact on lending
27 March 2018 - The slight easing of the LVRs appears to be encouraging investors into mortgages with new Reserve Bank data showing a pick-up in lending to investors.
OCR call takes backseat
16 March 2018 - Changes are looming for the Reserve Bank and that has pushed OCR decisions into the background – despite a pending announcement next week.
Multi-million mortgage fraud trial gets underway
27 February 2018 - The trial of three people allegedly involved in a complex $52 million dollar mortgage fraud scheme has now started at the Auckland High Court.
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.
New low for investor mortgage share
30 January 2018 - Investors are continuing to feel the pinch of policy restraints with new data showing another drop in their take up of new mortgage lending.
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.
New look General Finance to take on gaps in market
8 January 2018 - Filling a gap in the mortgage market will be the focus of non-bank lender General Finance following a buy-out by a group of investors, including Brent King.
Mortgage lending bounces back up
22 December 2017 - There’s evidence of the housing market’s Spring rebound in the Reserve Bank’s latest mortgage lending data – but it’s not property investors who have significantly upped their borrowing.
ANZ adjusts deposit requirements
21 December 2017 - The Reserve Bank’s easing of the LVRs has prompted New Zealand’s biggest bank to follow suit and loosen up its lending requirements.
Future of financial services
19 December 2017 - Artificial intelligence (AI) has hit New Zealand’s mortgage sector with the launch this week of a chat bot aimed at first home buyers.
Inescapable impact of credit cards
18 December 2017 - The impact of having a credit card on mortgage borrowing ability should be well-known – but it’s not, one prominent adviser says.
Westpac ups rental income allowance
4 December 2017 - Changes to Westpac’s qualifying income assessments mean that investors will now be able to claim 80% of their rental income as part of their income calculation.
RESIMAC turns five
1 December 2017 - Lending times have changed and, in its five years in New Zealand, RESIMAC has embraced those changes and thrived.
RBNZ to ease LVR restrictions
29 November 2017 - The Reserve Bank says it will make some slight easing of the LVR restrictions from January 1.
Westpac says advisers important, but...
8 November 2017 - Westpac CEO David McLean explains the bank's latest profit figures, why it won't do loans over 80%, the outlook for the housing market and the importance of mortgage advisers.
RESIMAC offering to refund first month of loan P&I
2 November 2017 - RESIMAC is offering to repay the first month's principal and interest on for new borrowers when they take out either a specialist or low-doc loan with the company.
Kepa, The Advisers Institute, reveals new partner
26 October 2017 - [Advertorial] Leading New Zealand adviser group Kepa has announced a partnership with up-and-coming mortgage advice company Mortgage Lab.
ANZ: No more repayment holidays
25 October 2017 - ANZ is axing loan repayment holidays, prompting questions about whether mortgage advisers can continue to recommend the bank as an option for their clients.
Mortgage advisers: start thinking about your education now
24 October 2017 - Change is coming under the new financial advice regime and mortgage advisers are being urged to start getting ready for it now.
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.
Kickbacks to agents shouldn't happen, but do
11 October 2017 - Relationships between mortgage advisers and real estate agents are being questioned by Consumer NZ, which is concerned about financial kickbacks.
Australian non-bank lender set to return to NZ
1 October 2017 - One of the bigger non-bank lenders before the GFC is set to return to New Zealand.
Nest Home Loans appoints two new advisers
29 September 2017 - The expanding firm has added two new faces to its team.
Online offer 'more than quote and compare'
14 September 2017 - A new insurance advice firm is promising consumers a more in-depth online service.
No case to end LVRs – S&P
14 September 2017 - There is no case for the Reserve Bank to relax the LVRs as the housing market remains a risk to New Zealand’s banking system, according to Standard & Poors.
HomeStart boost could drive prices up
11 September 2017 - The National Party has promised to increase the funds available to first home buyers under the HomeStart grant but critics say that will simply drive up house prices.
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.
Investor lending exodus
25 August 2017 - It is investors, not first home buyers, who are bearing the brunt of the LVRs and retreating from the borrowing arena, new Reserve Bank data shows.
PM rules out DTI ratio idea
16 August 2017 - Prime Minister Bill English has ruled out allowing the Reserve Bank to bring in debt-to-income ratios. It had suggested limiting loans to no more than five times borrowers’ incomes.
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.
Bumpy lending ride continues
26 July 2017 - Evidence that investors dependent on mortgages are exiting the property market in significant numbers looms large in the latest Reserve Bank data.
SBS eyes 'partnership' with mortgage advisers
14 July 2017 - The bank says around a third of its business now comes from advisers and chief executive Shaun Drylie gives his views on commission models.
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.
Hundreds of would-be advisers sign up
29 June 2017 - Hundreds of new mortgage adviser are completing introductory courses that would allow them to start work in the industry, but not all end up in front of clients.
Investor lending decline continues (+GRAPH)
28 June 2017 - Investors’ share of new mortgage lending dropped again in May although the amounts loaned were up, new Reserve Bank lending data reveals.
11 is the magic number for Westpac
16 June 2017 - Westpac has made five rate changes today. They are all increases and they are all 11 basis points each. The rates to rise are Everyday Floating and its...
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?
Westpac scraps online app process
9 June 2017 - Lack of use has led Westpac to ditch its digital mortgage application system for mortgage brokers from June 1.
DTIs would cut thousands out of market
8 June 2017 - Around 11,000 people a year could be prevented from buying properties if the Reserve Bank was to deploy debt-to-income ratios (DTI), the Bank has estimated.
Appeal loss for mortgage fraudster
6 June 2017 - Former Auckland socialite Eli Devoy has lost her appeal against her convictions and sentence for her involvement in a $9.2 million mortgage fraud scheme.
Investor lending remains in check
24 May 2017 - Restraints on the housing market are still doing their job with new residential mortgage lending down again in April, according to the Reserve Bank’s latest lending data.
Have you got a question on the mortgage market?
24 May 2017 - It remains very quiet on the interest rate changes front, but we are looking to make some noise tomorrow. TMM - The Mortgage Mag, is holding its annual...
Broker sentenced to jail
21 May 2017 - A former mortgage broker has been described by a judge as a thief who took from people who trusted him as a friend.
The Co-operative Bank appoints new CEO
1 May 2017 - Following the departure of Bruce McLachlan in March, the bank has now named his permanent replacement.
Broker concerns referred to FMA
12 April 2017 - Concerns over the activities of brokers at Brilliant Finance Ltd have led Mortgage Express to cut their ties with them and go to the Financial Markets Authority (FMA).
Interest-only loans come under the spotlight
11 April 2017 - Australia’s interest-only loan crackdown could lead to a tightening up on the rules in New Zealand.
Lending growth will slow – S&P
6 April 2017 - Recent increases in mortgage rates are set to continue, but this will help ease the risks house price inflation poses to New Zealand banks, Standard & Poors says.
Auckland affordability a credit negative - Moodys
8 March 2017 - Poor housing affordability in Auckland is a credit negative for New Zealand covered bonds backed by mortgages in the city, according to a global ratings service.
Decline in investor lending continues
27 February 2017 - Ongoing downward trend in investor lending is exposed by the Reserve Bank’s latest mortgage lending data, which highlights the housing market’s slowdown.
Quiet on the investor lending front
31 January 2017 - Investor lending activity is clearly more subdued reveals the latest mortgage lending data, which adds emphasis to the picture of a much slower housing market.
Surprise spike in mortgage lending
21 December 2016 - Evidence that the effect of the latest LVR restrictions might be diminishing comes in new data which reveals a big jump in mortgage lending – including to investors.
OCR hikes on the horizon
21 December 2016 - The OCR has troughed and the risks are now skewed to OCR hikes from the middle of next year, according to one major bank.
Rising rates, quieter market
16 December 2016 - Higher mortgage rates will have a more sustained impact on the housing market than the LVR restrictions have, according to Westpac.
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.
Heartland Bank to re-enter residential mortgages
25 November 2016 - Heartland Bank is due to re-enter the residential home loan market next year - and its strategy is a bit different to other banks.
Downbound trend for investor lending
24 November 2016 - There is now little doubt that the new LVR restrictions are having a significant impact on property investor activity, with lending in this area slumping to new lows.
New peer-to-peer mortgage provider licensed
21 November 2016 - New Zealand’s newest peer-to-peer mortgage lender is promising to offer mortgage brokers an easier way to get deals done for clients struggling to access funds from the banks.
Fall in investor lending continues
27 October 2016 - New investor-focused LVRs have led to a free fall in bank lending to investors, the Reserve Bank’s latest mortgage lending data reveals.
Mortgage fraud absconder pleads guilty
27 October 2016 - The elusive defendant in a high profile mortgage fraud case pled guilty to 16 charges in the Auckland District Court today – after returning from his overseas flight.
Prospect of DTIs looms larger
25 October 2016 - Controversial debt-to-income ratios (DTIs) have moved a step closer.
Westpac stops some lending; ANZ loosens up
21 October 2016 - Westpac has abruptly stopped low-equity lending through mortgage advisers, while ANZ has loosened up its criteria around construction loans. [Read...
Westpac tightens; ANZ loosens lending criteria
19 October 2016 - Westpac has abruptly stopped low-equity lending through mortgage advisers, while ANZ has loosened up its criteria around construction loans.
Tough times for Kiwi investors
11 October 2016 - Mortgage brokers are warning of steeper funding costs for investors as banks charge higher margins and the lending environment tightens. Read more...
40pc may not be the end of the rules
6 October 2016 - Investors could yet be in for more of a clampdown from the Reserve Bank, experts predict.
Investors face cancellation of pre-approvals
4 October 2016 - Banks have had to cancel some preapprovals for investors, which were issued before the recent change to loan-to-value restrictions. Read more. ...
Steep decline in investor lending
26 September 2016 - New Reserve Bank mortgage lending data leaves little doubt that the new investor-targeted LVRs have had a significant impact on bank lending to investors - lending to Auckland landlords dropped by almost 20%.
Looming LVRs impact on mortgage lending
24 August 2016 - New LVR restrictions seem to be affecting mortgage demand already, with the Reserve Bank’s latest residential lending data showing a big dip in mortgage lending
Mortgage fraudster heading to prison
17 August 2016 - Auckland woman, Eli Devoy, was sentenced to five years in prison in the Auckland District Court today for involvement in an extensive mortgage fraud scheme.
New LVR start date delayed
12 August 2016 - The Reserve Bank has delayed the start date of new LVRs aimed at investors from 1 September to 1 October 2016, following banking industry feedback.
Apartment size key to future lending
4 August 2016 - Smaller, cheaper apartments will be part of Auckland’s future, under the Unitary Plan, but experts say banks apartment lending criteria could be a problem.
Bank risk real LVR target
4 August 2016 - Mitigation of bank risks, rather than dramatic house price correction, is the likely outcome of the Reserve Bank’s new LVRs, financial experts say.
Fall in mortgage lending
27 July 2016 - Drop in new mortgage lending in June’s Reserve Bank data suggests slowing demand – and it occurred before last week’s announcement that further LVR restrictions are coming.
Mortgage lending hits record high
27 June 2016 - Mortgage lending was up again in May and nearly half of it was in interest only loans, the Reserve Bank’s new, more detailed lending data reveals.
Investors’ mortgage lending share up
26 May 2016 - New Reserve Bank lending data leaves little doubt that investors are busy in the current market.
Former bank board member joins GFS
16 May 2016 - Global Financial Services’ has appointed a new board member, which it says will give added drive to the mortgage broker’s transition from a family business to corporate organisation.
Ensure full disclosure - ComCom
5 May 2016 - Failure to disclose all the required information to mortgage borrowers could cost lenders, the Commerce Commission has warned.
New kid on the block
31 March 2016 - There's a new player in the home loans industry with Freedom Home Loans entering the market. Read here. ...
New kid on the block
29 March 2016 - Home loans industry gains another player as Freedom Home Loans enters the broking market.
Looming impact of global funding costs
15 March 2016 - ANZ is warning mortgage rates may not fall as far as the OCR because of rising bank funding costs. Read here. ...
Banks slow to pass on OCR cut
11 March 2016 - The Co-operative Bank was first out of the blocks yesterday and passed the full 25 basis point OCR cut onto customers. The only big bank to follow, so...
Peer-to-peer a growing option, broker says
2 March 2016 - A mortgage broker who placed a client with a peer-to-peer lender after they were rejected by the bank says it is likely to become a more popular option for advisers.
Downward trend for investor lending
25 February 2016 - Recent slowdown in Auckland’s housing market seems to be reflected in new data which shows a big drop in investor lending.
Lifestyle matters for banks
18 February 2016 - An Auckland mortgage broker says she has noticed banks taking lifestyle factors into consideration much more when processing home loan applications. Read...
