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  Reply # 1331422 25-Jun-2015 14:56
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Geektastic: 3.4% fixed for 30 years.

My brother in California.


House price was?

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  Reply # 1331423 25-Jun-2015 14:57
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BinaryLimited: Morning all.

Anyone got lower than 4.89% for 2yrs and $5k cash back?
If so, let me know...need to finalise things by tomorrow.

...."well jimmy got 4.89%, i want 4.89%...."


So they are paying you to take up a mortgage? WOW

Can I ask how much the mortgage is drawn for? over 500k? or under?

 
 
 
 


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  Reply # 1331432 25-Jun-2015 15:09
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joker97:
Geektastic: 3.4% fixed for 30 years.

My brother in California.


House price was?


Around US $500,000.

Equivalent home (5 bed, 300 sq m, full aircon, double glazing, pool etc) in NZ would be at least double.





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  Reply # 1331433 25-Jun-2015 15:09
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the profits these banks are making, and CEOs are getting paid, is obscene, and is really hoovering up money from the NZ economy. 


I just started working for a bank. Am I a bad person? I'm not the CEO, btw, haha

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  Reply # 1331434 25-Jun-2015 15:10
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yeah i do envy the comparatively low cost of building in other countries

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  Reply # 1331437 25-Jun-2015 15:17
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Geektastic:
joker97:
Geektastic: 3.4% fixed for 30 years.

My brother in California.


House price was?


Around US $500,000.

Equivalent home (5 bed, 300 sq m, full aircon, double glazing, pool etc) in NZ would be at least double.

Huh? There are plenty of places in NZ (and even Auckland!) where you can buy a house like that for less than NZD$1.5m!

P.S. I would like to know where the house is. Maybe I can move there, I like Cali!

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  Reply # 1331455 25-Jun-2015 16:09
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Geektastic: 3.4% fixed for 30 years.

My brother in California.


Houses are so cheap in parts of the US. 3.4% fixed for 30 years is pretty risky for the bank. I think the longest banks will allow you to fix in NZ is about 10 years, but stand to be corrected.

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  Reply # 1331467 25-Jun-2015 16:27
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30 years.

ok sorry 10 years it is

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  Reply # 1331505 25-Jun-2015 16:47
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MileHighKiwi:
the profits these banks are making, and CEOs are getting paid, is obscene, and is really hoovering up money from the NZ economy. 


I just started working for a bank. Am I a bad person? I'm not the CEO, btw, haha

Everyone needs a job...

I have worked for banks/fin sec companies for years. I'm only moderately evil (upper-middle-management). 






Handsome Dan Has Spoken.



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  Reply # 1331547 25-Jun-2015 17:04
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joker97:
BinaryLimited: Morning all.

Anyone got lower than 4.89% for 2yrs and $5k cash back?
If so, let me know...need to finalise things by tomorrow.

...."well jimmy got 4.89%, i want 4.89%...."


So they are paying you to take up a mortgage? WOW

Can I ask how much the mortgage is drawn for? over 500k? or under?


More than double that




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  Reply # 1331661 25-Jun-2015 19:18
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joker97: yeah i do envy the comparatively low cost of building in other countries


The big problem in NZ is lack of competition in the materials market. Then all the compliance costs in building, may of which are just ass-covering things.

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  Reply # 1331867 26-Jun-2015 08:45
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I'm going to wait for the next OCR announcement then hit up my broker. Current on a 2 year fixed with Kiwibank with ~14 months left, and 3 year fixed with ~26 months left. Will be interesting to see if they try to hit me with break fees.

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  Reply # 1331874 26-Jun-2015 08:54
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Jeeves: I'm going to wait for the next OCR announcement then hit up my broker. Current on a 2 year fixed with Kiwibank with ~14 months left, and 3 year fixed with ~26 months left. Will be interesting to see if they try to hit me with break fees.

If I recall, Kiwibank were one of the banks that charged, um, "less than fair" break fees. I don't know if anything's changed since then.

To be honest, you'd probably be better of breaking the fixed loans now (when rates are higher, that means lower break fees) and then refixing after the announcement (when rates are lower, if that's what you think is going to happen). Just means being on floating in the interim.

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  Reply # 1331887 26-Jun-2015 09:20
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MileHighKiwi:
the profits these banks are making, and CEOs are getting paid, is obscene, and is really hoovering up money from the NZ economy. 


I just started working for a bank. Am I a bad person? I'm not the CEO, btw, haha


Nope.  You're just following orders.

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Reply # 1331891 26-Jun-2015 09:27
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Fred99:
MileHighKiwi:
the profits these banks are making, and CEOs are getting paid, is obscene, and is really hoovering up money from the NZ economy. 


I just started working for a bank. Am I a bad person? I'm not the CEO, btw, haha


Nope.  You're just following orders.

At the risk of invoking Godwin's Law...

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