The head of Century 21 New Zealand heeds a warning to Wellington’s decision-makers on giving the Reserve Bank the green light to introduce loan-to-income restrictions.
Forty days of industry consultation is underway as Financial Advice New Zealand enters the second stage of its 100 day development plan.
The top concern among property investors may surprise you, an ANZ survey reveals
New Zealand’s central bank will publish its forecasts for the Official Cash Rate from next month, increasing the transparency of how it communicates future interest-rate moves.
New Zealand has overtaken Singapore as the best country in the the world to do business, according to the World Bank.
A leading mortgage advisory firm has highlighted the ‘LVR loophole’ locking owner occupiers out of the market and urges the Reserve Bank to clarify the LVR rules to lenders.
The closures are very short sighted.
The question is whether there is still an independent bank in NZ that can fill the void and grow.
But then most of the corporate world these days are only focused on the quarter's earnings and management protecting their shares.
One of the major reasons that selling the BNZ to Australian interests was a total tragedy is unfolding before us. Yes the banks have to make a profit for their shareholders, but banks rely on depositors as a mainstay of their business; we have all heard that depositors are the lifeblood of the bank and you cannot gather deposits where there is no bank. All the major banks are now Australian owned and they have all sold their New Zealand premises and other major assets, something which used to be a feature of their doing business in New Zealand. They all had a financial commitment within the community that they served. What is now left is a shell of an operation. All that banks in New Zealand can lay claim to is a database of customers and a loyal staff. Their commitment to New Zealand and our economy is tenuous at best. Without having at least one major bank in New Zealand, under local ownership there will not be a counter argument or local competitive pressure holding the Australian banks to account. When they decide to upstakes and move on they have little that will need to be liquidated. When will that day come I wonder?
All options are not available to home buyers as they try to cross sell all their other products. A mortgage adviser is independent and neutral
Thanks @dutchkiwi, appreciate the feedback. Stay tuned for more updates to Mortgage Hub, and remember to spread the word to any friends and family shopping around for a mortgage.
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