GoodReturns
976500364
0
0 Comment
Save Story
Mortgage Rates Commentary

One lender shuts up shop

Wednesday 19th of December 2012

Crown-owned entity The Public Trust has had some of the sharpest home loan rates this year but has struggled to make settle loans and is now pulling out of the market. More details here

In rate news The Co-operative Bank has ended its one-year special and replaced the 4.99% rate with 5.25%. It has also increased its six-month rate.

Want to read the full article?

Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.

You will also be able to comment on articles on Good Returns.

Sign in
Previous Article Next Article
Latest News
FMA wants clearer fees
FMA wants clearer fees
5 min read
[Weekly Wrap] Research shows KiwiSaver is a key issue in the election; GRTV Special looks at what's on offer.
[Weekly Wrap] Research shows KiwiSaver is a key issue in the election; GRTV Special looks at what's on offer.
3 min read
Milford helps advisers tackle performance questions
Milford helps advisers tackle performance questions
3 min read
FMA settles with departed chief executive, will pay out remainder of contract
FMA settles with departed chief executive, will pay out remainder of contract
2 min read
Mortgage Rates Commentary
More Read
How to get financial advice to more people
How to get financial advice to more people
1 min read
Floating rates rising post OCR increase; What the changing housing market means for prices
Floating rates rising post OCR increase; What the changing housing market means for prices
1 min read
[Breaking News] RBNZ pulls the trigger
[Breaking News] RBNZ pulls the trigger
1 min read
FMA finally takes over CCCFA; Meet CFML's two new BDMs
FMA finally takes over CCCFA; Meet CFML's two new BDMs
1 min read
Latest Comments
Advisers embrace Westpac after trail commissions removed
Doesn't this result call into question the criticism from certain quarters that Mortgage Advisers are driven predominantly by commission considerations?
3 hours ago The Laird
FMA wants clearer fees
@first time caller - I can see the complexity you highlight, but as above, investors should be able to see what they are paying without having to reference multiple documents. Investment admin can track and report deductions for tax, withdrawals, fees et al, would be /should be straightforward to aggregate advice fees into costs at member level... at least I hope so.
1 day ago Goldcard
FMA wants clearer fees
@goldcard - how would you propose that a fund manager calculates the TER to include adviser fees given not all clients pay them and different advisers charge different fees, not to mention some advisors charge different fees to different clients? The advice fee gets disclosed in the adviser's disclosure statement and the statement of advice, so the client can add that to the published TER of the fund they are invested in to see how much they are paying overall.
1 day ago First time caller
FMA wants clearer fees
Schedule 4 of the FMCA regs 2014, particularly clauses 2(1) and 53(3) provide the basis for excluding individually charged advice fees from the statutory TER. This was introduced with the best of intentions, but now it is little more than an invisibility cloak for deductions from member accounts.
2 days ago Goldcard
Ideas for reforming KiwiSaver
@Ross The evidence is pretty clear on that. When advisers work in the best interests of their customers, as opposed to putting their customers into the products that pay them the most, outcomes are improved. (Makes sense doesn't it? Financial advisers go from sales people for fund companies to client fiduciaries.) It might reduce access, but does someone with $50K in a KiwiSaver really need investment 'advice'? A risk profile questionnaire or similar is a much better way to help consumers get into the right fund, i.e. move from a Balanced Fund to a Growth Fund. Why have more developed investment markets, e.g. US, UK, Canada, Aus, Netherlands etc. have banned adviser commissions from fund providers? I'd also add that there is a large group of KiwiSaver customers that are paying someone an advice fee without getting anything beyond a cursory email once a year in exchange. As @Paul says, it's 'easy money' for advisers...
5 days ago Market Commentator