Kiwibank says cost of adviser business is marginal
The cost to a bank of using mortgage advisers to originate mortgages is marginal compared to the cost of running its own proprietary origination operation, according to Kiwibank chief executive Steve Jurkovich.
“We have banking specialists, both at the front line in branches and in the broader contact centres and embedded in our business,” Jurkovich told TMM Online.
Such bank officers are there to answer questions such as how to structure a mortgage and they’re in place to deal with customers regardless of whether or not the customer decides to proceed with the...MORE»
Heartland launches a bridging loan to finance retirement village purchasesThursday, March 13th, 6:00AM 1 comment
Heartland Bank is extending its reverse mortgage offering to include a kind of bridging finance for those wishing to buy a unit in a retirement village. MORE» |
A loan which could be approved in 60 mins now takes 7 days thanks to regulationsWednesday, March 12th, 6:02AM 2 comments
The Reserve Bank’s capital requirements and other regulatory changes have been causing a significant drag on bank lending, according to accounting firm KPMG’s latest survey of financial institutions. MORE» |
Mortgages on short-term rates surged again at the beginning of the year
Although fixed interest rates for mortgages are declining, borrowers still opted overwhelmingly for floating and short-term rates up to one year in January.
MORE»Advisers told not to overpromise
A mortgage adviser has reimbursed $5,556 in marketing and legal costs to a couple who complained to Financial Services Complaints Ltd (FSCL) that it took three months to find out they couldn’t get finance to buy a motel after they sold their house.
MORE»Mortgage advisers punch-up with ComCom takes a new twist
The scrap between mortgage advisers and the Commerce Commission over its insistence borrowers be presented with three actual offers from three different lenders has taken another turn.
MORE»NZFSG joins up with specialist insurer
NZFSG has partnered with specialist property investor insurer Initio.
MORE»Longer-term mortgage rates near cycle lows
For longer-term interest rates to fall the OCR would need to dip below 3%, ANZ says in its latest Property Focus report.
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