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  1. #1
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,876

    Default 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.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  2. #2
    Join Date
    Apr 2009
    Posts
    972

    Default

    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?

  3. #3
    Join Date
    Mar 2015
    Location
    Brisbane Wellington Auckland
    Posts
    807

    Default

    Quote 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 ?

  4. #4
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,321

    Default

    Quote 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!

  5. #5
    Join Date
    Mar 2015
    Location
    Brisbane Wellington Auckland
    Posts
    807

    Default

    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 at 11:26 PM.

  6. #6
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,876

    Default

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

    Cheap over here - stung over there. Gotcha.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  7. #7
    Join Date
    Jun 2004
    Posts
    10,404

    Default

    Quote 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.

  8. #8
    Join Date
    Mar 2015
    Location
    Brisbane Wellington Auckland
    Posts
    807

    Default

    Quote 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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