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  • The other side of the lower dollar ledger.
    Hopefully a lower dollar will increase the inflation rate a bit.

    Fuel prices rise 4c a litre

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    • one of the stronger possibilities was the introduction of new rules for banks lending to investors who own several houses.


      The rules were meant to be introduced in June last year but were delayed.


      The rules would be to treat owners of multiple properties like small business owners, forcing banks to hold more capital as a buffer to cover their lending


      For property investors, the effects could be higher equity requirements the next time they bought a house.


      However, competition among banks to lend money was so strong, the cost of commercial lending might not get passed on, Loan Market mortgage adviser Bruce Patten said.


      The banks had a lot of money to lend, and lending restrictions on first home owners had been crimped, "so they'll be trying to find ways to redistribute their money".


      http://www.stuff.co.nz/business/mone...control-tipped
      have you defeated them?
      your demons

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      • ANZ is starting to give out 5.2% for 1 year for good customers.

        5.3% 2 years is gathering steam too.

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        • 5.05 one year
          5.23 two years

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          • Which bank was that, Eugene?
            www.PropertyMinder.co.nz
            # Property Management
            # Ad Hoc Tenancy Services / Rental Inspections / Terminations and Notices

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            • ANZ
              ASB were also sharp two weeks ago

              If I change banks I can get cash back, 5k per 7000k. Only the broker says banks are starting to get wise about churning and might not take customers back who chop and change too much, would be interested to know if anyone has experienced this.

              Am erring towards taking a shorter rate, even though economists are not saying they think interest rates will fall; they are only saying, when asked by a journo, that interest rates could possibly fall.

              Has anyone tried negotiating insurance via the bank as an incentive? Since the banks want to sell you insurance, there might be mutual benefit in taking insurance instead of cash (or as well as).

              Another question, accountant tells me that cash backs are assessable income. Yet (at least a few years ago) they were unsolicited gifts, which I would think not taxable. Does anyone know if the IRD has a ruling on cash backs? If a cash back were given specifically to be applied to legal fees, which for refinancing are tax deductible, then it follows it would be assessable. But often the cash backs are far higher amounts than the legal fees.

              Comment


              • Originally posted by Eugene View Post
                Another question, accountant tells me that cash backs are assessable income. Yet (at least a few years ago) they were unsolicited gifts, which I would think not taxable. Does anyone know if the IRD has a ruling on cash backs? If a cash back were given specifically to be applied to legal fees, which for refinancing are tax deductible, then it follows it would be assessable. But often the cash backs are far higher amounts than the legal fees.
                Try this thread
                http://www.propertytalk.com/forum/sh...-from-the-bank

                Comment


                • Originally posted by Eugene View Post
                  5.05 one year
                  5.23 two years
                  Wow that's nothing like the rates on interest.co.nz (ANZ missing from there?) or the ANZ website.

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                  • ^ they will not be advertising it anywhere. It is all about asking them verbally.

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                    • It just means if I try and get a rate like that from another bank, all I can say is "some guy on a forum said he got this rate..."

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                      • Originally posted by wodger View Post
                        Wow that's nothing like the rates on interest.co.nz (ANZ missing from there?) or the ANZ website.
                        Advertised rates are there just to screw the honest people who take prices at face value and don't bother or don't know they can negotiate rates down!

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                        • Originally posted by wodger View Post
                          It just means if I try and get a rate like that from another bank, all I can say is "some guy on a forum said he got this rate..."
                          My mate was offered ...

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                          • Originally posted by Maccachic View Post
                            My mate was offered ...
                            Sounds a bit better. Does it work? Does it work with Kiwibank??

                            Comment


                            • Originally posted by wodger View Post
                              Sounds a bit better. Does it work? Does it work with Kiwibank??
                              It works if they want to keep you esp if you have high equity Plus you can try it out on a few other banks at the same time. Ive used Bank mail in the past easier sometimes that face to face, sometimes they ring you for a catch up (to sell something) hit em up them.

                              Comment


                              • You dont have to say anything specific. You just say I know many people are getting at least .4 shading and cash back , what are you offering?

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