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  • With election year coming up in the States, efforts will be made to bolster the appearance of the economy. Such is the dark world of big politics. It may just be window dressing.

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    • The Fed increased their base rate for the first time in nearly ten years. NZ traditional follows this path at some point, I'd pick 12 to 18 months.
      www.ilender.co.nz
      Financial Paramedics

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      • NZ tradition was also to have interest rates of 7 % until recently and floating rates more expensive than fixed. Times have changed... or have they?

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        • Originally posted by brokerman View Post
          SBS just announced they withdrawing their 3.99% on 8th Jan, just so you know
          Does anyone know if SBS is insisting on the owner-occupied condition for the 3.99% special?
          Any exception for favourable LVR (say 50%) or high income serviceability? If it is strictly enforced, what rates do they offer for rental properties?

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          • Originally posted by brokerman View Post
            The Fed increased their base rate for the first time in nearly ten years. NZ traditional follows this path at some point, I'd pick 12 to 18 months.
            Is following by 12 to 18 months really following?
            I'd say that is just a different cycle.

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            • I note on www.interest.co.nz that ASB have put up their 5 year rate.

              Any thoughts what this means?
              Book a free chat here
              Ross Barnett - Property Accountant

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              • Originally posted by xsfat View Post
                Does anyone know if SBS is insisting on the owner-occupied condition for the 3.99% special?
                Any exception for favourable LVR (say 50%) or high income serviceability? If it is strictly enforced, what rates do they offer for rental properties?
                When we spoke to them, they were happy to spread the 3.99% rate across our OO and IP, but with a maximum lending amount at 3.99% of 80% the value of our OO property, the remainder being at 4.25% for the 12 months.

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                • Originally posted by jp_rocks View Post
                  When we spoke to them, they were happy to spread the 3.99% rate across our OO and IP, but with a maximum lending amount at 3.99% of 80% the value of our OO property, the remainder being at 4.25% for the 12 months.
                  That's a good rate, are they quick to move when you're trying to land a deal? I'll sit with a slightly higher rate and an entrepreneurial banker any day.
                  Free online Property Investment Course from iFindProperty, a residential investment property agency.

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                  • Few banks are slowly increasing their long term mortgage rates and dropping the floating.

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                    • Westpac offered me 4.19% 1-2yr on re-finance ...as the house is going on the market in the new year I went with 4.4% 6months fixed ...looking forward to be able to shop round the banks for next couple rental property loans

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                      • I see that the BNZ has put some of its longer term interest rates up.
                        http://www.interest.co.nz/borrowing
                        "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

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                        • Anyone managed to get a non-SBS bank match the 3.99% offer for an IP?
                          www.PropertyMinder.co.nz
                          # Property Management
                          # Ad Hoc Tenancy Services / Rental Inspections / Terminations and Notices

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                          • I think it's better to fix for 1 year as bank won't increase rate instantly

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                            • $481k fixed loan expiring on 30th Jan.Got an offer of 4.3% 1 or 2 year. Already locked in for another 18 months as I got cash back of $4300. Any thoughts? Should I push for $4.2%. Banker said rates gone up already etc. etc. so it's hard to offer anything better.

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                              • The difference between 4.2 and 4.3 is about $500 in the year.
                                No harm in asking

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