Morgage options?

Viewing 5 posts - 1 through 5 (of 5 total)

Bornfree
Participant
@bornfree
Join Date: 2005
Post Count: 2
March 8, 2005 - 9:09 am
I am trying to find the best bank to finance my IP loan.
They all seem to be quite similar however I found Wizard to be very low in comparison 7.3 on fixed 1 or 2 year. Consumer online found Super Bank to be the cheapest at 7.49 floating and 7.75 on 1 or 2 year. Have any of you dealt with these loan companies? And is there some hidden reason they are so low?
I bank with ANZ at the moment.
This is my first IP home and I rent were I live at the moment.
Should I take a loan out on Fixed or Floating?
muppet
Member
@muppet
Join Date: 2003
Post Count: 900
March 8, 2005 - 12:37 pm
Hi Born Free
The very latest mortgage rates in NZ can be accessed from this site
http://www.interest.co.nz/mortgages.html
Regards
landt64
Participant
@landt64
Join Date: 2004
Post Count: 166
March 10, 2005 - 9:44 am
Hi all,
why is it that the interest rates are higher in NZ than in Australia?
Thanks
Landt.
kerwyn
Member
@kerwyn
Join Date: 2004
Post Count: 145
March 11, 2005 - 4:11 pm
Hi landt
It is the NZ government that has a policy of keeping the rates just a little higher to bring in overseas money.
It is a very fine line they run with interest rates; if they make them too low, say the same as OZ then the big money dealers prefer to put the money into OZ. If they make them too high then the NZ dollar goes up and exports suffer. This is a simplification buy it is close enough.
Kerwyn.
landt64
Participant
@landt64
Join Date: 2004
Post Count: 166
March 11, 2005 - 11:40 pm
Thanks Kerwyn,
Landt.