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  1. #1
    Join Date
    Jan 2007
    Location
    Christchurch
    Posts
    239

    Default Bank rules to change regarding Commcerial interest rate on rental properties

    Read an interesting article on Stuff today regarding the new lending rules that are to come in effect on Jun 30 for those that have mortages on more than 5 rental properties.

    Link below
    http://www.stuff.co.nz/business/mone...bank-clampdown

    I would be interested in mortgage brokers comments on the article ie what would the likely interest rates be?

    Cheers

    Charlotte 30
    Last edited by charlotte30; 23-02-2014 at 01:30 PM. Reason: grammar

  2. #2
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,354

    Default

    Sounds like a dream for the banks, they get to change the label on a bunch of customers from 'retail' to 'commercial' and charge them higher interest rates and higher fees, and blame it on the RBNZ!
    Squadly dinky do!


 

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