tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Saturday, July 5th, 9:39AM

News

rss
Latest Headlines

Pre-approvals not turned off; Shared equity could be the answer

Tuesday, July 23rd 2024, 2:05PM 2 Comments

Earlier today we reported four banks had stopped issuing pre-approvals. We have been contacted by a couple of the banks to say that is not so.

ANZ says it "has not paused pre-approvals". Likewise, Westpac says "Westpac hasn’t turned off pre-approvals."

Meanwhile, we have a new story where Deloitte reports shared equity schemes could arrest declining home ownership. [READ ON]

Tags: A newsletter

« Predictions for OCR cut next month - ASBNon-bank lender secures funding line from Westpac NZ »

Special Offers

Comments from our readers

On 23 July 2024 at 4:03 pm valkyrie6 said:
BNZ routinely tell mortgage advisers they will only assess live deals (not pre-approvals) however if you call them on the BNZ home loan line pretending to be a customer who is dealing with a mortgage adviser BNZ will then tell you over the phone to come direct to them and they can still give the customer a pre-approval.
The same also applies for when BNZ tells mortgage advisers they can’t look at over 80% deals unless they are “live” i.e. not doing preapprovals over 80% either.
This is how BNZ treats mortgage advisers.
On 24 July 2024 at 1:32 pm Amused said:
Hi valkyrie. Yes, I have also in the past called the BNZ home loan line myself and been told the same thing.

Looks like there one rule for mortgage advisers and another for BNZ staff if the customer goes direct.

Personally I find it difficult to have a relationship with a lender when the bank in question isn't been honest with us or indeed valuing the adviser channel.

Much rather place my customers and their business elsewhere.

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 4.44 - - -
AIA - Go Home Loans 6.54 4.89 4.95 5.09
ANZ 6.49 5.55 5.55 5.69
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 4.95 4.95 5.09
ASB Bank 6.44 4.89 4.95 5.09
ASB Better Homes Top Up - - - 1.00
Avanti Finance - Near Prime ▼6.90 - - -
Avanti Finance - Specialised 8.34 - - -
Basecorp Finance 7.25 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 5.99 5.69 5.69
BNZ - Mortgage One 6.54 - - -
BNZ - Rapid Repay 6.54 - - -
BNZ - Std 6.44 4.89 4.95 5.09
BNZ - TotalMoney 6.54 - - -
CFML 321 Loans 4.99 - - -
CFML Home Loans 6.70 - - -
CFML Prime Loans 7.20 - - -
CFML Standard Loans 7.99 - - -
China Construction Bank 6.44 4.85 4.95 4.95
China Construction Bank Special 6.44 5.85 5.95 5.95
Lender Flt 1yr 2yr 3yr
Co-operative Bank - First Home Special - 4.85 - -
Co-operative Bank - Owner Occ 5.95 4.95 4.99 5.25
Co-operative Bank - Standard 5.95 5.45 5.49 5.75
Credit Union Auckland 7.70 - - -
First Credit Union Special - 5.29 5.19 -
First Credit Union Standard 6.94 5.79 5.49 -
Heartland Bank - Online 5.99 5.89 - -
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 7.45 5.90 5.80 -
ICBC 6.50 4.85 4.95 5.05
Kainga Ora 6.44 4.89 4.95 5.09
Lender Flt 1yr 2yr 3yr
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 6.35 5.79 5.85 ▼5.95
Kiwibank - Offset 6.35 - - -
Kiwibank Special - 4.89 4.95 ▼5.15
Liberty 6.90 6.80 6.50 6.45
Nelson Building Society 6.94 4.99 4.93 -
Pepper Money Near Prime 6.85 - - -
Pepper Money Prime 6.29 - - -
Pepper Money Specialist 8.30 - - -
SBS Bank 6.49 5.55 5.55 5.75
SBS Bank Special - 4.95 4.95 5.15
Lender Flt 1yr 2yr 3yr
SBS Construction lending for FHB 3.94 - - -
SBS FirstHome Combo - 4.29 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity ▼8.64 - - -
TSB Bank 7.19 ▼5.69 5.75 6.09
TSB Special 6.39 ▼4.89 4.95 5.29
Unity First Home Buyer special - 4.29 - -
Unity Special 6.64 4.99 4.99 -
Unity Standard 6.64 5.79 5.79 -
Wairarapa Building Society 6.75 5.09 4.95 -
Westpac 6.59 5.49 5.55 5.59
Lender Flt 1yr 2yr 3yr
Westpac Choices Everyday 6.69 - - -
Westpac Offset 6.59 - - -
Westpac Special - 4.89 4.95 4.99
Median 6.56 4.99 4.99 5.15

Last updated: 30 June 2025 8:16am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com