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  • I believe that the long term rates will start to ramp up as soon as we see any sign of green shoots. By July 2021 while the OCR may well be low the 5 yr rate could be starting to climb.

    I will be locking for as long as I can later this year.

    Comment


    • Originally posted by Don't believe the Hype View Post
      I believe that the long term rates will start to ramp up as soon as we see any sign of green shoots. By July 2021 while the OCR may well be low the 5 yr rate could be starting to climb.

      I will be locking for as long as I can later this year.
      Maybe---I think mid next year will be the bottom of this recession(maybe depression) .. major property devaluation ... forced sales etc ... never seen so many properties on the market locally .. unemployment highs etc I just don't see any rates getting jacked in this environment ..

      Comment


      • Originally posted by JBM View Post
        Maybe---I think mid next year will be the bottom of this recession(maybe depression) .. major property devaluation ... forced sales etc ... never seen so many properties on the market locally .. unemployment highs etc I just don't see any rates getting jacked in this environment ..

        I agree with your timeframe... what worries me with regard to long term rates is that going towards that time long term rates will be low... at the bottom the long term rates will start to head north.

        I also don't think the majority of people in NZ think there are big problems coming judging by the number and level people are offering.

        Comment


        • Originally posted by Don't believe the Hype View Post
          I agree with your timeframe... what worries me with regard to long term rates is that going towards that time long term rates will be low... at the bottom the long term rates will start to head north.

          I also don't think the majority of people in NZ think there are big problems coming judging by the number and level people are offering.
          Yes this time last year I was worried about longer term rate increases ...and look at us now ... I don't see long term rates spiking unless NZ gets a credit downgrade

          Comment


          • I caved in and went for security, 5 years at 2.99% and $1,600 cash back (thats money I wouldnt have got if I hadnt read this thread, as I thought cash backs were a thing of the past).

            Thank you gentlemen

            2.65% for 1 to 2 years wasnt too far away from the 2.99% 5 year rate (only westpac and BNZ I think are doing that), and I just wanted the security of costs down over the full 5 years.

            Feel like a bit of a woose, but am happy going safety.

            If short term rates fall further by 28/6 I will feel more of a Goose.

            Note:
            Stay away from some of the main banks "Covid 19" departments if you can.
            I am with most banks, and most of them, I just asked for Interest only and they gave it to me.
            One bank put me in the Covid 19 response department, and when I went to do something, just a re-fix, I had a call, and someone wanted to "ask me further questions".

            And the person who called me, got all the information wrong about what help I had asked for, so I just said, look just put me back to where I was on before, I dont need help and I dont want to be asked further questions.

            Never show any signs of weakness to the bank, I guess, is the mantra, they never forget

            p.s. anyone have problems with this website a week or so back, I couldnt get into the forum at all

            Comment


            • Originally posted by Bluekiwi View Post
              p.s. anyone have problems with this website a week or so back, I couldnt get into the forum at all
              Major overhaul done. There's a thread about it somewhere.
              www.3888444.co.nz
              Facebook Page

              Comment


              • Originally posted by Bluekiwi View Post
                2.65% for 1 to 2 years wasnt too far away from the 2.99% 5 year rate (only westpac and BNZ I think are doing that), and I just wanted the security of costs down over the full 5 years.
                My lad is signing for just over a mil next week. This is invaluable as it makes savings of over $6k per year to his bottom line. Pressure is now being applied to ANZ to match Westpac and BNZ.

                Much appreciated Bluekiwi.
                www.3888444.co.nz
                Facebook Page

                Comment


                • Originally posted by Bluekiwi View Post
                  I caved in and went for security, 5 years at 2.99% and $1,600 cash back (thats money I wouldnt have got if I hadnt read this thread, as I thought cash backs were a thing of the past).

                  Thank you gentlemen

                  2.65% for 1 to 2 years wasnt too far away from the 2.99% 5 year rate (only westpac and BNZ I think are doing that), and I just wanted the security of costs down over the full 5 years.

                  Feel like a bit of a woose, but am happy going safety.

                  If short term rates fall further by 28/6 I will feel more of a Goose.

                  Note:
                  Stay away from some of the main banks "Covid 19" departments if you can.
                  I am with most banks, and most of them, I just asked for Interest only and they gave it to me.
                  One bank put me in the Covid 19 response department, and when I went to do something, just a re-fix, I had a call, and someone wanted to "ask me further questions".

                  And the person who called me, got all the information wrong about what help I had asked for, so I just said, look just put me back to where I was on before, I dont need help and I dont want to be asked further questions.

                  Never show any signs of weakness to the bank, I guess, is the mantra, they never forget

                  p.s. anyone have problems with this website a week or so back, I couldnt get into the forum at all
                  Is that for residential or commercial ?
                  If commercial would you pm me the contact .
                  I am keen to see them this week
                  Looking for $40m

                  Comment


                  • YUSSSSSSSSSS !!!!!

                    Just saved the lad $30k on interest over the next 5 years.

                    Anybody doesn't think this site is helpful needs their head read.
                    www.3888444.co.nz
                    Facebook Page

                    Comment


                    • Originally posted by Bluekiwi View Post
                      I caved in and went for security, 5 years at 2.99% and $1,600 cash back (thats money I wouldnt have got if I hadnt read this thread, as I thought cash backs were a thing of the past).

                      Thank you gentlemen

                      2.65% for 1 to 2 years wasnt too far away from the 2.99% 5 year rate (only westpac and BNZ I think are doing that), and I just wanted the security of costs down over the full 5 years.

                      Feel like a bit of a woose, but am happy going safety.

                      If short term rates fall further by 28/6 I will feel more of a Goose.

                      Note:
                      Stay away from some of the main banks "Covid 19" departments if you can.
                      I am with most banks, and most of them, I just asked for Interest only and they gave it to me.
                      One bank put me in the Covid 19 response department, and when I went to do something, just a re-fix, I had a call, and someone wanted to "ask me further questions".

                      And the person who called me, got all the information wrong about what help I had asked for, so I just said, look just put me back to where I was on before, I dont need help and I dont want to be asked further questions.

                      Never show any signs of weakness to the bank, I guess, is the mantra, they never forget

                      p.s. anyone have problems with this website a week or so back, I couldnt get into the forum at all
                      A bird in the hand is worth 2 in the bush right? I will have about a mil coming off over 4.99 through the end of the year and hoping it drops further. Pay day.
                      "DEBT BECOMES IRRELEVANT WITH INFLATION".

                      Comment


                      • Originally posted by Bluekiwi View Post
                        I caved in and went for security, 5 years at 2.99% and $1,600 cash back (thats money I wouldnt have got if I hadnt read this thread, as I thought cash backs were a thing of the past).

                        Thank you gentlemen

                        2.65% for 1 to 2 years wasnt too far away from the 2.99% 5 year rate (only westpac and BNZ I think are doing that), and I just wanted the security of costs down over the full 5 years.

                        Feel like a bit of a woose, but am happy going safety.

                        If short term rates fall further by 28/6 I will feel more of a Goose.

                        Note:
                        Stay away from some of the main banks "Covid 19" departments if you can.
                        I am with most banks, and most of them, I just asked for Interest only and they gave it to me.
                        One bank put me in the Covid 19 response department, and when I went to do something, just a re-fix, I had a call, and someone wanted to "ask me further questions".

                        And the person who called me, got all the information wrong about what help I had asked for, so I just said, look just put me back to where I was on before, I dont need help and I dont want to be asked further questions.

                        Never show any signs of weakness to the bank, I guess, is the mantra, they never forget

                        p.s. anyone have problems with this website a week or so back, I couldnt get into the forum at all
                        Great work nothing wrong in this environment (well I hope to get 2.65% 5yr this time next year???) I'm certainly happy enough with my recent rate lock...

                        Did finally get a call back from the local ASB banker I was dealing with telling me reason why they didn't want to take my loans .... My income wasn't high enough ? to my debt so $150,000pa for around 150-170 days work pa (Not including any profits from my Share trading company $35k AUD!! today!!!) isn't enough to cover 590k debt ..(1.3MILL+ free Capital) all goes to plan I'll pay if these debts within next few years

                        I did ask how is anyone buying houses these days ??? in Queenstown (where the banker is based) Oh no we have been doing quite a few home loans ?
                        Right a town with av. income $42k pa with a tourism industry in free-fall a Property Bubble the largest in the world here in NZ and they have issues with my
                        two small loans one in commercial property PGG Wrightsons 10yr fixed term 10.5% net yield the other in share trading company with present focus on Gold shares >> debt free home etc ..

                        I really don't get some banks ....pretty much feel like I was spat in the face(after doing 90% of my personal+Company banking with ASB last 12yrs never missed one Morg payment when I was with them or any other bank A+ credit rating same job last 24yrs) ..I feel for those guys that are with ASB and are coming up to re-finance might just find out they don't want you anymore..(they did to me last GFC thankfully ANZ happy to take me)
                        Last edited by JBM; 23-06-2020, 12:48 AM.

                        Comment


                        • Originally posted by Frezzinghot View Post
                          A bird in the hand is worth 2 in the bush right? I will have about a mil coming off over 4.99 through the end of the year and hoping it drops further. Pay day.
                          Many say this each time the fix long until rates drop further then we get all the questions 'what will the break fee be for ...'
                          Just saying.

                          Comment


                          • A possible strategy is to spread. ie 1/3rd at 1 year, 1/3rd at 3 year, 1/3rd at 5 years, so old saying "don't put all your eggs in one basket".

                            But if you had done this over the last few years, your would be paying a lot more in interest than if you had fixed for 1 year.


                            I think if you have high, secure incomes, and you want to be aggressive, then 1 year fixed makes sense. No guarantee that rates couldn't go up at some stage (not saying I think they will), so important to have the ability to survive if you get it wrong.

                            If you want to be conservative, and secure , then 5 years, or a combination makes safe. This might not be the best, but if it gives you the security you need, then still meets your needs.

                            Ross
                            Book a free chat here
                            Ross Barnett - Property Accountant

                            Comment


                            • Offered today;

                              200k BNZ
                              $1500 cashback with no discount on rates.
                              1y 2.65
                              18m 2.69
                              2y 2.69
                              3y-5y 2.99
                              Last edited by Psilan; 24-06-2020, 05:47 PM.

                              Comment


                              • Originally posted by Psilan View Post
                                Offered today;

                                200k BNZ
                                $1500 cashback with no discount on rates.
                                1y 2.65
                                18m 2.69
                                2y 2.69
                                3y-5y 2.99
                                Are you with BNZ currently ?

                                Comment

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