Yes I have 7 figures with 4 banks. You can't create a lot of wealth out of one investment property :-)
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Westpac and ASB are my two least favourite banks for investment loans.www.PropertyMinder.co.nz
# Property Management
# Ad Hoc Tenancy Services / Rental Inspections / Terminations and Notices
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Many homeowners who loaded up on debt over Christmas will be stuck paying hefty interest bills, as restrictive home loan rules prevent them from rolling the debt into their mortgages.
Rule Financial Services mortgage broker Simon Rule said the summer months typically saw an influx of people wanting to top up their mortgages to consolidate high-interest debt.
However, the Reserve Bank's restrictions on home loans for low equity borrowers had made it much more difficult to do so, he said.
Credit card rates broke through the 20 per cent barrier late last year, even while mortgage rates remain close to historic lows at less than 5.5 per cent.
http://www.stuff.co.nz/business/mone...es-hit-debtorshave you defeated them?
your demons
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Originally posted by eri View PostMany homeowners who loaded up on debt over Christmas will be stuck paying hefty interest bills, as restrictive home loan rules prevent them from rolling the debt into their mortgages.
The amusing thing is, if their CC is with the same bank as their mortgage they are paying that 20% on their home loan anyway.
IE: Their "unsecured" CC debt is actually secured by their home.
Of course, most people don't even bother reading their mortgage contracts.
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Originally posted by Damap View PostIt is interesting that CC rates don't follow general interest rates. Weird huh?
that only go up - never down - with o'seas prices, I suspect it's just
one of those semi-legitimate scams. After all, sending the credit card
remains an option, does it not?
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