Most first home buyers do not know that Kiwi Bank and BNZ are the most expensive lenders if you are borrowing over 80%.
Neither Kiwi Bank or BNZ disclose their low equity fees on their web sites. On the positive side they are still both lending up to 95%.
If you are borrowing over 80%
There is a difference between what customers think a bank is, and the reality. Once upon a time the “branch banker” was the local expert on finance. Many of us still perceive banks and bankers in this light, but it is no longer the case. In reality, banks are simply retailers. Bank staff are
For ASB, BNZ and National Bank customers there is potentially a financial benefit from breaking your fixed rate mortgage especially if you took a longer-term fixed rate. In this blog we show you how it all works and what the benefits are
Mortgage rates are forecast to bottom out around June 2009. Short term rates could get as low as 5.50% with longer-term rates getting down to around 6.00%-6.50%. In my opinion that means taking a six month fixed rate now at 6.50%-6.90% is the best option. In six months you can then look to split your mortgage into multiple fixed rates and spread them over 3-5 year fixed terms
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