For those who have strayed down the treacherous path of having all your loans with one bank, the consequences have started to bite.
It's been a nerve-wracking wait on findings of the Government's review into crippling CCCFA law changes - but the announcement brings good news for the Kiwi borrowers, and the industry.
When it comes to your home loan application, getting your finances in tip-top shape will always be an important part of setting yourself up for success. And these tips are a great starting point.
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.
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.
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.
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.
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.
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.
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.
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.