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September - Mortgage smorgasbord

The changing face of the New Zealand mortgage industry leads off the September issue of the New Zealand Property Magazine.

Thursday, August 25th 2005, 12:01PM

Although the New Zealand lending industry is still dominated by the mainstream, overseas-owned banks the emergence of smaller non-bank lenders with an eye on niche markets has been a significant recent development. And some of those non-bank lenders are tailoring loan packages specifically designed for property investors. Our cover story looks at some of those packages and talks to a number of property commentators about the mortgage industry and what to be on the look out for when securing finance for your next property investment.

Another emerging industry that property investors need to be on the look out for, unfortunately, is the rather unsavoury drug industry, specifically the increasing incidence of P-labs. Although still relatively rare the number of P-labs discovered by police is on the rise and it’s inevitable that rented properties will be used for the illicit manufacture of lucrative methamphetamines. Our story outlines what the tell-tale signs of drug manufacture are and what to do and what not to do if you have suspicions that your property is being used in such a way.

And returning to the mortgage theme our guest columnist Graeme Fowler delves into some of nitty-gritty questions that property investors need to address to be successful. An experienced property investor, author and mentor himself, he has some strong advice on the interest-free loans, and the necessity to distinguish between wealth-protection and wealth-creating strategies and the pitfalls if investors confuse one with the other. Graeme also addresses specific questions from property investors in our new question and answer forum.

Please e-mail your questions to Graeme at orion@paradise.net.nz or to us at editor@tarawera.co.nz.

Earlier this year property investors were at the forefront of submissions on the government review of Residential Tenancies Act (RTA). The Department of Building and Housing has collated those submissions and released a document that outlines a summary of the questions raised. We print an outline of that in the upcoming issue.

Another issue dear to the hearts of property investors is the Inland Revenue Department (IRD) policy on chattel and fitout depreciation. It’s an area that has long confused investors and their tax advisers. Tax expert Mark Withers looks at the confusion surrounding this issue and offers some advice on the best steps to take until the IRD makes a definitive statements on its policy in this area.

In addition Diana Clement looks at the humble home unit as potential investment area, and examines the potential of the North Shore in her Regional Review. The magazine also has its usual full array of columns, commentaries and statistics.

« NZPIF Conference 2005September - Mortgage smorgasbord »

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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 8.90 7.00 6.50 -
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 ▼6.39 ▼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 6.79 6.49 6.49
TSB Special 7.89 5.99 5.69 5.69
Unity ▼7.64 5.99 5.69 -
Unity First Home Buyer special - 5.49 - -
Wairarapa Building Society 8.50 ▼6.19 ▼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 6.17 5.79 5.69

Last updated: 30 October 2024 9:36am

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