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NZ Banks Cutting / Tweaking Fees

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  • NZ Banks Cutting / Tweaking Fees

    What's up with all this fee juggling going on?

    Credit-Union Baywide
    Kiwibank
    BNZ
    ANZ

    What do you think is behind all the fuss?

    Oh, banking gossip has it that trader dumbphones (aka smartphones) will become EFT-POS terminals in the not too distant future.
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  • #2
    Westpac just charged me a 1% mortgage establishment fee for a commercial loan. Although I managed to negotiate it to half. No wonder they are losing market share to ANZ?
    Profiting from Property, not People

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    • #3
      Originally posted by DaveW View Post
      Westpac just charged me a 1% mortgage establishment fee for a commercial loan. Although I managed to negotiate it to half. No wonder they are losing market share to ANZ?
      Is the ANZ the best in the market currently ?

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      • #4
        Originally posted by DaveW View Post
        Westpac just charged me a 1% mortgage establishment fee for a commercial loan. Although I managed to negotiate it to half. No wonder they are losing market share to ANZ?
        No vendor finance on this one? Just joking...
        Squadly dinky do!

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        • #5
          With commercial loans the banks often insist you also use their solicitor. .this can add thousands to the cost
          My solicitor $1725 including gst their solicitor $4709
          Their solicitor read the lease and S and P agreement
          My solicitor did the above plus
          Visited the site
          Registered the mortgage's
          Transfered the titles
          Bank charged me a $3,000 fee
          Last edited by Beano; 02-04-2018, 11:26 PM.

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          • #6
            Seems there might be a bit of semi-deceptive, cross-subsidising going on, then?

            Cheap over here - stung over there. Gotcha.
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            • #7
              Originally posted by Beano View Post
              With commercial loans the banks often insist you also use their solicitor. .this can add thousands to the cost
              Aside from the cost that doesn't sound like a good idea.
              You want your solicitor to protect you - not protect the bank.
              Independence would be key here.

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              • #8
                Originally posted by Wayne View Post
                Aside from the cost that doesn't sound like a good idea.
                You want your solicitor to protect you - not protect the bank.
                Independence would be key here.
                What I meant was the banks insist you use both solicitors

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