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Mortgage Rates Daily Commentary
Monday 25 November 2024
All eyes on interest rates for the next two years Aside from the expected RBNZ 0.50% OCR drop on Wednesday, economists are expecting a thorough update of where it sees interest rates going over the next two years. [READ ON]
Wizard and AMS sold for more than $A400 million
The consumer finance arm of General Electric, GE Money, is to pay something over $A400 million ($NZ433.4 million) for Australian Financial Investment Group whose subsidiaries include retailer Wizard Home Loans and wholesale mortgage funder AMS.
Thursday, October 28th 2004, 1:12PM
by Jenny Ruth
The sale price wasn’t officially announced and the actual amount paid will depend on how AFIG performs. AFIG, which has $A18 billion in assets, 230 branches and 80.000 customers, has been on the market for more than a year. It brings GE Money’s Australian and New Zealand assets to about $A38 billion, about $A8 billion of that in New Zealand.
It brings GE to being Australia’s sixth largest home lender behind the four major banks and St George.
The business was previously owned by a consortium including Kerry Packer’s Publishing & Broadcasting (PBL), Deutsche Asset Management and ABN Amro and founder Mark Bouris who is staying on as AFIG’s chairman – GE plans to operate AFIG as a stand-alone business.
The deal delivers PBL, the only listed company in the consortium which paid $A25 million for its stake five years ago, a $A58 million profit.
Bouris founded AFIG in 1996. Broking firm Citigroup Smith Barney estimates AFIG made a $A40million profit in 2003/04.
Commenting is closed
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Mortgage Rates Table
Full Rates Table | Compare Rates
| Lender |
Flt |
1yr |
2yr |
3yr |
|---|
| AIA - Back My Build |
5.44 |
- |
- |
- |
| AIA - Go Home Loans |
7.99 |
5.99 |
5.69 |
5.69 |
| ANZ |
7.89 |
6.59 |
6.29 |
6.29 |
| ANZ Blueprint to Build |
7.39 |
- |
- |
- |
| ANZ Good Energy |
- |
- |
- |
1.00 |
| ANZ Special |
- |
5.99 |
5.69 |
5.69 |
| ASB Bank |
7.89 |
5.99 |
5.69 |
5.69 |
| ASB Better Homes Top Up |
- |
- |
- |
1.00 |
| Avanti Finance |
8.40 |
- |
- |
- |
| Basecorp Finance |
9.60 |
- |
- |
- |
| BNZ - Classic |
- |
5.99 |
5.69 |
5.69 |
| Lender |
Flt |
1yr |
2yr |
3yr |
|---|
| BNZ - Mortgage One |
7.94 |
- |
- |
- |
| BNZ - Rapid Repay |
7.94 |
- |
- |
- |
| BNZ - Std |
7.94 |
5.99 |
5.69 |
5.69 |
| BNZ - TotalMoney |
7.94 |
- |
- |
- |
| CFML 321 Loans |
6.20 |
- |
- |
- |
| CFML Home Loans |
6.45 |
- |
- |
- |
| CFML Prime Loans |
8.25 |
- |
- |
- |
| CFML Standard Loans |
9.20 |
- |
- |
- |
| China Construction Bank |
- |
7.09 |
6.75 |
6.49 |
| China Construction Bank Special |
- |
- |
- |
- |
| Co-operative Bank - First Home Special |
- |
5.79 |
- |
- |
| Lender |
Flt |
1yr |
2yr |
3yr |
|---|
| Co-operative Bank - Owner Occ |
7.65 |
5.99 |
5.75 |
5.69 |
| Co-operative Bank - Standard |
7.65 |
6.49 |
6.25 |
6.19 |
| Credit Union Auckland |
7.70 |
- |
- |
- |
| First Credit Union Special |
- |
6.40 |
6.10 |
- |
| First Credit Union Standard |
8.50 |
7.00 |
6.70 |
- |
| Heartland Bank - Online |
7.49 |
5.65 |
5.55 |
5.55 |
| Heartland Bank - Reverse Mortgage |
- |
- |
- |
- |
| Heretaunga Building Society |
▼8.60 |
6.75 |
6.40 |
- |
| ICBC |
7.49 |
5.99 |
5.65 |
5.59 |
| Kainga Ora |
8.39 |
7.05 |
6.59 |
6.49 |
| Kainga Ora - First Home Buyer Special |
- |
- |
- |
- |
| Lender |
Flt |
1yr |
2yr |
3yr |
|---|
| Kiwibank |
7.75 |
6.89 |
6.59 |
6.49 |
| Kiwibank - Offset |
8.25 |
- |
- |
- |
| Kiwibank Special |
7.75 |
5.99 |
5.69 |
5.69 |
| Liberty |
8.59 |
8.69 |
8.79 |
8.94 |
| Nelson Building Society |
8.44 |
5.95 |
6.09 |
- |
| Pepper Money Advantage |
10.49 |
- |
- |
- |
| Pepper Money Easy |
8.69 |
- |
- |
- |
| Pepper Money Essential |
8.29 |
- |
- |
- |
| SBS Bank |
7.99 |
6.95 |
6.29 |
6.29 |
| SBS Bank Special |
- |
6.15 |
5.69 |
5.69 |
| SBS Construction lending for FHB |
- |
- |
- |
- |
| Lender |
Flt |
1yr |
2yr |
3yr |
|---|
| SBS FirstHome Combo |
5.44 |
5.15 |
- |
- |
| SBS FirstHome Combo |
- |
- |
- |
- |
| SBS Unwind reverse equity |
9.75 |
- |
- |
- |
| TSB Bank |
8.69 |
6.49 |
6.49 |
6.49 |
| TSB Special |
7.89 |
5.69 |
5.69 |
5.69 |
| Unity |
7.64 |
5.99 |
5.69 |
- |
| Unity First Home Buyer special |
- |
5.49 |
- |
- |
| Wairarapa Building Society |
8.10 |
6.05 |
5.79 |
- |
| Westpac |
8.39 |
6.89 |
6.39 |
6.39 |
| Westpac Choices Everyday |
8.49 |
- |
- |
- |
| Westpac Offset |
8.39 |
- |
- |
- |
| Lender |
Flt |
1yr |
2yr |
3yr |
|---|
| Westpac Special |
- |
6.29 |
5.79 |
5.79 |
| Median |
7.99 |
6.02 |
5.79 |
5.69 |
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