Interest Rates

[Equilibrium]

Its actually NZ Property Investor Mag. I will find issue number. Not sure if I am allowed to scan and post article or not.

Yes, please tell me the issue number, I'm willing to address the issues outlined.

[Equilibrium]

There are stories like this relating to every bank, only a nieve person would believe otherwise. It's a shame we can't your life more positive.

[Toasty]

There are stories like this relating to every bank, only a nieve person would believe otherwise. It's a shame we can't your life more positive.

I own a bunch of properties. My life couldn't be more positive.

[Maccachic]

Yes but first impressions do count - Marketing 101.

[Perry]

Keep It Seemly, Please

Moderator Note

Posts making point and counter-point accusations of defamation
have been removed from public view until the original 'accuser'
provides his/her real name, as required by the PT Forum Rules.

PS
Defamation is usually oral; libel is usually written. Either way
it's still 'negative.'

[Perry]

Its actually NZ Property Investor Mag. I will find issue number. Not sure if I am allowed to scan and post article or not.

Please review the PT Forum Rules about Copyright Respect.
That will give you an idea of what you can/can't post here,
whilst staying within the PT Forum Rules.

[Toasty]

Aww, my first fight.

Check out "New Zealand Property Investor" Issue 96, November 2011, Page 25 to 29.

[Equilibrium]

Thanks, will check that out.

[Perry]

Paper War

Actually, as Equilibrium has declared his affiliation, perhaps
he can explain the papers-in-envelopes of business banking?

Page one says: "This is a transaction listing." Maybe so, but
the page is devoid of any data.

At the bottom, it does say Page 1 of 3 (please turn over)

On the reverse of the page is where the transaction listing
actually starts. At the bottom is Page 2 of 3.

The transaction listing then continues on page 3.

At the bottom of page 3 is Page 3 of 3 (Please turn over)

Doh? Page 3 of 3, OK? There is nothing on the reverse to
turn over to.

Of the transaction listings detailed, about 65% are repeats.
I.e. they were on the previously received statement!

I can see that statements do differ from transaction listings.

Now I know NZ Post is struggling with declining snail mail
volumes and revenue, but that seems taking things too far.

Why am I being sent so much redundant information? I do
want to receive statements (accountants like them), but
each transaction only needs to be listed once. Really.

[Bluekiwi]

Who did you vow not to use again, as Kiwibank do not deal with brokers generally, assume you must be talking about someone else?

My broker was one of an elite group that had access to them as part of some trial scheme, so no, are definitely talking about Kiwibank, you think I would get confused, and post without knowing what I was talking about.
Moved from them, as the time to get a response was pathetic, you couldnt run a business with a bank like that.
But hey maybe the equilibrum has changed and they have got better, are you their Marketing Manager ??

[Wiz]

I just saw an ad on Stuff with TSB, 2 years fixed at 5.3%. 80% lending though, so have your deposit at the ready, and there's an owner/ occupier caveat in there too.

http://www.tsbbank.co.nz/Splash.aspx...%20July%202012

[Bluekiwi]

Heres my last offer from ANZ. This was just over 2 weeks ago. Also $1000 towards costs.

Variable 5.00% p.a.
6 months fixed 5.15% p.a.
1 year fixed 4.75% p.a.
2 years fixed 4.99% p.a.
3 years fixed 5.40% p.a.
4 years fixed 5.75% p.a.
5 years fixed 6.20% p.a.

I note that the standard floating rate at 5.74
You have been given a .74% reduction off the published rate, that is quite significant.
Did they say you will stay .74% below the published rate when it goes up or down.

If a customer moved to a bank on the basis of a promised floating rate.
Do they "Promise" to stay at that level of discount to the floating rate when it goes up and down.

What sort of floating rate do people think you could do at a higher LVR.
I am at 90%, but just to have a big fat R/C sitting there that can be used at will.

The premium on rates from 80% to 90% LVR is about .3% or .4%

[Toasty]

Good point on the margin. There is no promise to keep the premium if rates move so that is now going to be my first phone call on Monday. I did think about it at the time and then promptly forgot.

It used to be that the size of the loan dictated the discount and the LVR wasn't such a big deal as you were generally paying a low equity fee. Not sure how that works now.

[Equilibrium]

Actually, as Equilibrium has declared his affiliation, perhaps
he can explain the papers-in-envelopes of business banking?

Page one says: "This is a transaction listing." Maybe so, but
the page is devoid of any data.

At the bottom, it does say Page 1 of 3 (please turn over)

On the reverse of the page is where the transaction listing
actually starts. At the bottom is Page 2 of 3.

The transaction listing then continues on page 3.

At the bottom of page 3 is Page 3 of 3 (Please turn over)

Doh? Page 3 of 3, OK? There is nothing on the reverse to
turn over to.

Of the transaction listings detailed, about 65% are repeats.
I.e. they were on the previously received statement!

I can see that statements do differ from transaction listings.

Now I know NZ Post is struggling with declining snail mail
volumes and revenue, but that seems taking things too far.

Why am I being sent so much redundant information? I do
want to receive statements (accountants like them), but
each transaction only needs to be listed once. Really.

Hi Perry, I've checked in with our local business banking centre, they're unaware of the issue described. Is it still occrring, if so I would recommend speaking directly to your local business manager as it appears to be an isolated incident if not one off. Hope this helps. Cheers, Equilibrium

[Equilibrium]

My broker was one of an elite group that had access to them as part of some trial scheme, so no, are definitely talking about Kiwibank, you think I would get confused, and post without knowing what I was talking about.
Moved from them, as the time to get a response was pathetic, you couldnt run a business with a bank like that.
But hey maybe the equilibrum has changed and they have got better, are you their Marketing Manager ??

Imagine you're talking about the Loan Market brokers, we do deal with a hand full of these brokers but it's not really something promoted. Generally if you're a strong applicant and provide everything we need then there will not be a problem. Marginal applications or missing information or showing discrepancies do tend to take longer to work through. BNZ is probably the only bank I'm aware of that specialise in investor loans and are generous with their lending approvals, it seems to work well from what I hear, their pricing may not be the sharpest however. Each bank has their own strengths. I'm a lender, nothing more.