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  • Originally posted by Wayne View Post
    been offered 4.99% for 1 yr from Westpac (for better than 80% LVR)
    5.09 for 2 years from them earlier this week.
    Couldnt help myself.

    Hopefully in August 2014 the world hasnt gone mad.

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    • Originally posted by Bluekiwi View Post
      5.09 for 2 years from them earlier this week.
      Couldnt help myself.

      Hopefully in August 2014 the world hasnt gone mad.

      Could be time to start hedging...difficult to drag myself off the floating rates though.

      Comment


      • This is what I was offered today:

        1 year 4.99
        2 years 5.35
        3 years 5.6

        Looking a refinancing from Westpac to BNZ plus they have their total money account.

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        • One big advantage of floating rates over fixed is there are no break fees.

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          • Originally posted by Maccachic View Post
            This is what I was offered today:

            1 year 4.99
            2 years 5.35
            3 years 5.6

            Looking a refinancing from Westpac to BNZ plus they have their total money account.
            I have been thinking more about the total money account.
            Which I am using as well, and the BNZ website is quite cool a lot better than some of the other banks.

            In one sense of the word, you are not fixed, as you can dump a whole lot of cash into your R/C account, and you then are affectively reducing the mortgages that you had "Fixed".

            Comment


            • Originally posted by Bluekiwi View Post
              I have been thinking more about the total money account.
              Which I am using as well, and the BNZ website is quite cool a lot better than some of the other banks.

              In one sense of the word, you are not fixed, as you can dump a whole lot of cash into your R/C account, and you then are affectively reducing the mortgages that you had "Fixed".
              Hi Bluekiwi , i was with BNZ only a week ago with their Total Money account , floating rate at 5.45%. However i am now with Kiwibank on a R/C , & getting a much better money saving deal; saving more than a few thousand dollars every year after having contacted Equilibrium of Kiwibank one of the forum members here on 0800 452013 .

              Previously i had not had a good experience with Kiwibank but "Equilibrium" is a great pleasure to deal with & he will give you the best deal available .Its actually in the Kiwibank loan contract that they will beat or match any offer & provide a guarantee for this even after you draw down the loan.

              Give him a call or PM him.

              Comment


              • They dont do 90% LVR over 4 rental properties though.
                Doing is this way, I can have a big fat R/C sitting their, which I am going to start using for flips.

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                • There was a difference between Kiwibanks RC and Total money and I have forgotten what it was?

                  Is it that you can have many different accounts / peoples accounts tied into the loan?

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                  • An indication of European interest rates: Today in the mail we were advised by Bank Austria that our floating rate mortgage is being reduced by .375% to the horrific rate of 1.25% PA. Current official CPI measure is 2.1%.
                    The mission of any business enterprise should include the aim to develop economic conditions rather than simply react to them.

                    Comment


                    • Originally posted by Austrokiwi View Post
                      An indication of European interest rates: Today in the mail we were advised by Bank Austria that our floating rate mortgage is being reduced by .375% to the horrific rate of 1.25% PA. Current official CPI measure is 2.1%.

                      Can I borrow 3 million NZ at 2.5% from you.
                      Not a bad return for you.

                      Comment


                      • Originally posted by Bluekiwi View Post
                        Can I borrow 3 million NZ at 2.5% from you.
                        Not a bad return for you.


                        LOL even though the current trend is seeing inflation dropping a 2.5% return would not match the risk involved in such a transaction.
                        The mission of any business enterprise should include the aim to develop economic conditions rather than simply react to them.

                        Comment


                        • Originally posted by Austrokiwi View Post
                          LOL even though the current trend is seeing inflation dropping a 2.5% return would not match the risk involved in such a transaction.
                          Okay how about 6 million then ?

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                          • ROFLMAO: I need to go back to bed ...........one of the reasons NZ interest rates are so High is that NZ banks ( irrespective of ownership) borrow from places like Europe. However the interest paid is only one cost.....usually that interest rate is higher than in Europe simply because: 1. the lender perceives a risk but then the borrower(bank) also needs to manage the currency fluctuation so they need to insure against the possibility of a fall in the NZ dollar so at least 1 % has to be added.
                            The mission of any business enterprise should include the aim to develop economic conditions rather than simply react to them.

                            Comment


                            • Originally posted by Austrokiwi View Post
                              ROFLMAO: I need to go back to bed ...........one of the reasons NZ interest rates are so High is that NZ banks ( irrespective of ownership) borrow from places like Europe. However the interest paid is only one cost.....usually that interest rate is higher than in Europe simply because: 1. the lender perceives a risk but then the borrower(bank) also needs to manage the currency fluctuation so they need to insure against the possibility of a fall in the NZ dollar so at least 1 % has to be added.
                              Okay how about 9 million, but thats my final offer !!!

                              Comment


                              • BK do you still have that 9?bed place in mangere?

                                or was that 1 that had to go...
                                have you defeated them?
                                your demons

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