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Thread: Interest Rates

  1. #5451
    Join Date
    Sep 2008
    Location
    Tauranga
    Posts
    1,518

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    Quote Originally Posted by Wellington Broker View Post
    ASB special rate is 5.09% for 3 years though? Have seen new business rates with good equity over 0.5% below that.
    The latest Reserve Bank data shows new lending falling significantly from the same month a year ago, but new lending to property investors has fallen at twice the overall pace

    n April, banks loaned $1.143 billion to residential property investors. That was -47.6% lower than the $2.182 bln they loaned in April 2016, and is a drop of more than $1 bln.

    New regulatory lending standards mean investors must now have much more skin in the game if they want any leverage in this market.
    And the result has been a very sharp drop-off in loans.
    But this fall has not yet allowed first home buyers back into the market - probably because house prices have not realigned themselves lower yet. The volume of transactions is lower, the number of unsold listings is higher, but seller price expectations are still based on historic levels.
    However, the speed with which the clampdown on investors has happened will encourage the RBNZ that their policy and regulation signals are working.

    Much more here;
    http://www.interest.co.nz/news/87947...h-year-ago-new


    Another month like this and the banks will be crapping thier nappies. No lending, no income and lots a cash sloshing about in their tills.

  2. #5452
    Join Date
    Apr 2016
    Posts
    2,343

    Default

    probably because house prices have not realigned themselves lower yet.
    They make it sound like that's a given. What will they say when they never do?

  3. #5453
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,251

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    Quote Originally Posted by Bobsyouruncle View Post
    They make it sound like that's a given. What will they say when they never do?
    I dunno Dean, the banks seem to realign your portfolio lower every so often right?
    Squadly dinky do!

  4. #5454
    Join Date
    Nov 2006
    Location
    Chch
    Posts
    26

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    I'm looking to fix one property with lending of 250k, another with 350k lending, both at about 60% LVR, both off fixed terms (ASB and ANZ), happy to move banks.

    Of course i want a cash incentive and great rates.. any idea what should be par for the course for say 2 year fixed?


    I was using a broker but they're now in my bad books after saying no more lending (i've since gone direct and 2 out of 3 banks have said OK).

  5. #5455
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,854

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    He needs firing then anyway, get a new broker.

    There is a good one in chch but I cant remember his name, ask Kris Pedersen as I think he knows him
    Paul Magill B.com
    Bluekiwi Property Consulting

  6. #5456
    Join Date
    Apr 2004
    Posts
    725

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    what's the terms guys .... after a sharp 1yr-2yr fixed deal (as rates aren't going anywhere in a hurry) are the banks still giving out cash ?? 1% return etc

  7. #5457
    Join Date
    Oct 2013
    Posts
    1,594

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    My banks aren't giving out cash, but am aware of a colleague who just got $4.5k back from Westpac on a $550k loan - almost 1% still. Very impressive.
    AAT Accounting Services - Property Specialist Accounting - AATAccounting.co.nz
    Lower fees for investors, traders & real estate agents!
    [email protected] for more information.

  8. #5458

    Default

    Yeah that's good. I'm about to go on the hock for 800k or so be interesting to see what I am offered, if anything.
    Free online Property Investment Course from iFindProperty, a residential investment property agency.

  9. #5459

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    We got cash from BNZ about 3 wks ago. Not the $ of old but still cash around.

  10. #5460
    Join Date
    Apr 2004
    Posts
    725

    Default

    Right some cash would be nice and here's hoping to see 1yr to 18month fixed sub 4.5%

    going to see ANZ tomorrow ..currently have loans with westpac but will be paid off larger one next week ... going be interesting to see which offers the best deal ASB/ANZ/WP ....
    Last edited by JBM; 12-06-2017 at 09:08 PM.


 

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