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Government law change will cause more harm than good for homeowners
Sign JB's petition. The Government has made changes to responsible lending laws to protect vulnerable borrowers, but they have used a sledge hammer instead of a scalpel. This is an example of over reach, and will cause far greater harm to Kiwi homeowners and small businesses than it will protect vulnerable borrowers.
Commercial and development pricing explained
Working with development and commercial property funding, price is often an obstacle that I come up against. Many people have little understanding of how risk-based pricing works, and it can come as a bit of a shock when pricing is uncovered.
Is 2019 the year that the speculative land bubble pops?
When it comes to property, the risk is that borrowers (and speculators in particular) think tomorrow will be better than today and don’t act. Watching a speculator in action is like putting a frog in water and gradually increasing the temperature. The frog never jumps out.
Mortgage Broker Commission
At a superficial and generally uninformed level, it’s easy to have an opinion on mortgage broker commissions. It’s also easy to have an opinion when you have a vested interest as banks do, and yes, I do too.
How responsible lending may affect property investors
The Hayne Report was released in Australia recently, and brought about some stern recommendations for the lending sector. The standards have been put in place for the best interests of New Zealanders, however, like anything that is done by the government, they can often carry unforeseen circumstances. Let's take a look at how property investors could be affected.
Tips for funding a development
We're covering off some quick things to look out for when doing a development so you don’t get caught high and dry. I'll talk GST, development costs, two key ratios and second tier lenders.
No more first tier asset lenders
A common misconception with borrowers, brokers and buyers is that the most important thing is how much deposit or equity you have. Whilst important, changes to lending standards have changed the focus over the past 12 months.
Good news: lending rules are loosening
The Reserve Bank of New Zealand has announced this morning that they’re loosening their lending rules. This is good news especially for first home buyers.
Return to the status quo?
With the election almost over, warmer weather and spring home loan campaigns in full swing, there appears to be some life coming back in the market.
How banks will be disrupted
For all the talk of new threats, banks still dominate our world. My view is that this is about to change.
Borrowing without the bank
Consumers typically don’t pay off their credit cards each month. With a $15,000 balance and an average rate of 21%, it costs $3,000 a year in interest ($250 per month in interest alone.) But most people don’t see that because it is a revolving debt that goes up and down.
