Thought this was interesting and worth watching.
400K Kiwis in credit repayments arrears. Personal loans and credit cards are the first to be hit with defaults. Car loans next and then mortgages.
5.3 % increase in car loan repayments defaults since 2020.
New...
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Refinance only Allowed upon CCC?
Hello everyone
I was wondering if someone could tell me if I am able to refinance from a floating loan to fixed residential loan for more than 4 units that have been built. The floating interest rate currently is killing me. Construction has finished and final drawdown is about to happen.... -
ASB Bank Better Home Top Up
Great to see ASB Bank coming up with incentives for people to make upgrades, that are better for the environment or better for their health!
Under the ASB Better Homes Top Up scheme, you could be eligible to borrow up to $80,000 at 1.00% p.a fixed for 3 years to make improvements related... -
Property investment dilemma
Hi PT - Would like some advise if possible please. I would like to use some inheritance money to buy an investment property with my son. However they will need to borrow money from the bank to finance the rest of the property funds. They will be using the equity in their existing property to take this... -
Company hiring a Property Manager
Hey All
I have a rental property and I would like to make it part of a company (yet to be created) (let's call it A Ltd) that will pay me the profits (as dividends I guess) when I see fit throughout the year (taxed).
I have a property manager to manage the property and understand... -
Heartland Bank - mortgages
Hi everyone,
Keen to know if you’ve had a mortgage with Heartland bank and what was your experience?
There rates are much lower than the big banks.
I have a loan coming off fixed and need to look around for best deal.
cheers
Donna
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Residential Lending and Business Income
I have a franchise business that we purchased a couple of years ago that just finished its second year of trading with us as the owners and the seventh year operating in total. We are looking at buying a house which the bank will lend to us based on our trading performance. Six months to a year after... -
Mortgage when one borrower has passed away
Currently I have a property in joint tenant with a family member and a mortgage in joint names, unfortunately she passed away and upon reading the bank policy, I can only takeover the mortgage if I reapply for the mortgage in my own name.
Is there a way around this? The problem is I am... -
OCR just put up 0.5%. April 2022
Mr Orr just bumped the OCR up a huge 0.5%.
Honestly, I was expecting him to do as little as possible, for as long as possible.
Who's coming off fixed, and how will this change your disposable income.
...Last edited by McDuck; 14-04-2022, 02:36 AM. -
How does a self employed person show Proof of Income to a landlord?
How does a self employed person show Proof of Income to a landlord?... -
Would you be able to part PPOR contract across 2 banks with no other property?
Because of how our "Trust" bubble is set up, we have 1 property outside of it, our PPOR.
Simply an overall inquiry in any case, remarks on Blogs talk about possibly having the option to divide contracts assuming you have 2 properties (which to me is having various moneylenders).... -
Selling off Plans
I own a unit in a building to be demolished and rebuilt. The build costs exceed the current CV, so would lose everything if I sold before rebuilding started. If I wait until the building is rebuilt the bank will force me to sell and I will lose everything.
Have you sold off the plans within... -
Non Banks in New Zealand
A lot of noise around non bank lending at present as the banks are forced to delve deeper into our financial lives before making any decisions.
As an Adviser who specialises in this space I thought an update on this type of lending might be helpful.
Non bank used to come under... -
Our funds sitting in the bank as FD ......Need Help
One of our friends ( professional medic) requested help to fund their purchase of a commercial unit.
The bank approved 300K but later put a condition that the unit should be owner occupied only and can not rent. Friend is bound to stay at present unit for another 2 yrs .
They asked us if... -
the tightening screws
3 months ago, we were offered over 900k for an investment, then when we asked for a 27k top up for a personal matter the banks said if we borrowed the 27k the other lending was not available. Go figure!