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Thread: Interest Rates

  1. #5391
    Join Date
    Aug 2009
    Location
    All of New Zealand
    Posts
    737

    Default

    Quote Originally Posted by Wellington Broker View Post
    Standard BNZ policy is actually that Classic rates are not available to investors without their home with BNZ....
    Yep and they now won't lend on apartments under 65 sm.
    www.ilender.co.nz
    Financial Paramedics

  2. #5392
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,713

    Default

    The NZ divisions of the Ausie banks have been given the finger.
    These Ausie banks have all had their funding cut and just what you expect from Ausies, they are telling the NZ subsidiaries "Get lost ausie comes first matey"
    Go get your own funds from NZ depositors.

    Forget the rules, they are just looking for any excuse not to lend out money.
    Less lending, they still need to make money, margins and interest rates will rise.

    And then the NZ banks spout out this media spin about the gap between deposits and lending in NZ is so big now.
    We have to take that into account.
    Its BS, as nothing has changed materially in that regard.

    Banks have no requirement to do business fairly with its customers, they only have a duty to their shareholders and owners to make money.

  3. #5393
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    12,712

    Default

    Quote Originally Posted by Bluekiwi View Post
    These Aussie banks have all had their funding cut.
    What happened to cause that?
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  4. #5394
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,713

  5. #5395

    Default

    Quote Originally Posted by Wayne View Post
    It's getting tougher!
    Just had BNZ reply to a rate request with
    "I have been advised that due to the changes in regard to rates we can
    offer for Investor only customers, we are unable to offer any further
    discount on the classic rates."
    So their standard rate is it if you don't have your home in there as well.
    Anyone know if this is typical now - or across other banks as well?

    This is not what we've found with BNZ and we're working to secure more funding ATM. We don't have our home with any bank we own it outright and still get discounted rates.

  6. #5396

  7. #5397

    Default

    Quote Originally Posted by Wellington Broker View Post
    Which channel is this through? Partners?
    Yes, partners


 

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