If this is your first visit, be sure to
check out the FAQ by clicking the
link above. You may have to register
before you can post: click the register link above to proceed. To start viewing messages,
select the forum that you want to visit from the selection below.
Surprisingly (well to me) the one month interest rate has only moved from 4.21pc to 4.36pc since April last year.
Still very low
But principal repayment expectations and demands have increased substantially
Never heard of a 1 month fixed term.
I'd take it if that was the cheapest.
Never heard of a 1 month fixed term.
I'd take it if that was the cheapest.
It is the BNZ "CARL" package
This is a standard commercial loan
I have both residential and commercial loans
I sort of treat the difference between the two rates as insurance cost.
With my Net rental only covering interest 2.7 times (it has been 3.3 cover) and loans exceeding $24m the risk is too great to have 100pc on 30 day term
Ps what bank do you use as the Westpac also offered 30 day fixed too?
It is the BNZ "CARL" package
This is a standard commercial loan
I have both residential and commercial loans
I sort of treat the difference between the two rates as insurance cost.
With my Net rental only covering interest 2.7 times (it has been 3.3 cover) and loans exceeding $24m the risk is too great to have 100pc on 30 day term
Ps what bank do you use as the Westpac also offered 30 day fixed too?
You're in a different league to everyone on here Beano
ASB sent the 'special rates' on their website when I asked their rates. We have about $500K.
We have fixed with 4.94 for 3 years, but have another one to fix soon, so, it would be good to know your rates for 3 years.
ASB sent the 'special rates' on their website when I asked their rates. We have about $500K.
We have fixed with 4.94 for 3 years, but have another one to fix soon, so, it would be good to know your rates for 3 years.
ASB special rate is 5.09% for 3 years though? Have seen new business rates with good equity over 0.5% below that.
ASB special rate is 5.09% for 3 years though? Have seen new business rates with good equity over 0.5% below that.
The latest Reserve Bank data shows new lending falling significantly from the same month a year ago, but new lending to property investors has fallen at twice the overall pace
n April, banks loaned $1.143 billion to residential property investors. That was -47.6% lower than the $2.182 bln they loaned in April 2016, and is a drop of more than $1 bln.
New regulatory lending standards mean investors must now have much more skin in the game if they want any leverage in this market.
And the result has been a very sharp drop-off in loans.
But this fall has not yet allowed first home buyers back into the market - probably because house prices have not realigned themselves lower yet. The volume of transactions is lower, the number of unsold listings is higher, but seller price expectations are still based on historic levels.
However, the speed with which the clampdown on investors has happened will encourage the RBNZ that their policy and regulation signals are working.
The latest Reserve Bank data shows new lending falling significantly from the same month a year ago, but new lending to property investors has fallen at twice the overall pace
Another month like this and the banks will be crapping thier nappies. No lending, no income and lots a cash sloshing about in their tills.
I'm looking to fix one property with lending of 250k, another with 350k lending, both at about 60% LVR, both off fixed terms (ASB and ANZ), happy to move banks.
Of course i want a cash incentive and great rates.. any idea what should be par for the course for say 2 year fixed?
I was using a broker but they're now in my bad books after saying no more lending (i've since gone direct and 2 out of 3 banks have said OK).
what's the terms guys .... after a sharp 1yr-2yr fixed deal (as rates aren't going anywhere in a hurry) are the banks still giving out cash ?? 1% return etc
Right some cash would be nice and here's hoping to see 1yr to 18month fixed sub 4.5%
going to see ANZ tomorrow ..currently have loans with westpac but will be paid off larger one next week ... going be interesting to see which offers the best deal ASB/ANZ/WP ....
Comment