Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.


View this topic in a long page with up to 500 replies per page Create new topic
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8
265 posts

Ultimate Geek
+1 received by user: 13

Lifetime subscriber

  # 1331894 26-Jun-2015 09:35
Send private message

A month ago I looked around and due to my work now banking with BNZ we get good rates and fees waived. Offer from BNZ was 5.0 for 2 years plus $4k. Under 500k mortgage. My current bank ASB and other banks could not match it so we took it. I thought it might come down further so feel I could have waited, overall pleased to have been on 4.99 for 2 years now 5.0 for the next 2 years. If it drops to mid 4's then we will ask the question on breaking.


12895 posts

Uber Geek
+1 received by user: 4312

Trusted
Lifetime subscriber

  # 1332186 26-Jun-2015 15:34
Send private message

bazzer:
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!


Vista. And none of the places in NZ have the Californian climate (although more water..!) and none of the houses would include the level of fixtures and fittings etc that you get there unless you personally see to it they do.

His windows are so good I am seriously considering flying the window guys over to measure up our place, go back and build the windows and then ship them over in a container, then come and stay for a holiday and install them!





 
 
 
 


270 posts

Ultimate Geek
+1 received by user: 35


  # 1332315 26-Jun-2015 19:08
One person supports this post
Send private message

Am I missing something?
When you enter a contract for x years at a fixed rate of y%, that is your contract rate for x years.
Why do people expect to be able to break the contract they entered into without penalty?
In fact, isn't the point of fixing at y% to create certainty. If you want the advantage of possible lower rates in the future, that's what floating rates are for.

Mad Scientist
20343 posts

Uber Geek
+1 received by user: 2772

Trusted
Lifetime subscriber

  # 1332322 26-Jun-2015 19:28
Send private message

when SBW signed a contract with the Bulldogs, he then hopped on a plane to France.
when Ma'a Nonu signed a contract with the Blues, he then hopped on a plane to Dunedin.




Swype on iOS is detrimental to accurate typing. Apologies in advance.


8033 posts

Uber Geek
+1 received by user: 390

Trusted

  # 1332342 26-Jun-2015 20:22
Send private message

kendog: Am I missing something?
When you enter a contract for x years at a fixed rate of y%, that is your contract rate for x years.
Why do people expect to be able to break the contract they entered into without penalty?
In fact, isn't the point of fixing at y% to create certainty. If you want the advantage of possible lower rates in the future, that's what floating rates are for.


Yes, you are missing that the competition between banks means that Early Adjustment Fees (aka Break Fees) can be waived in order to keep a customer or the gaining bank may offer to cover that fee via a cash bank like in the first post.

If you get an offer from another bank that beats your current banks rates (and they can't match it) and has a cash back to cover your current banks EAF/BF then why would you not take it? It's a pretty simple calculation to work out whether it's worth it.

Aside from the hassle of changing account numbers and payments etc, what reason is there to be loyal to a particular bank?

14905 posts

Uber Geek
+1 received by user: 2025


  # 1332352 26-Jun-2015 20:32
Send private message

Ragnor:
kendog: Am I missing something?
When you enter a contract for x years at a fixed rate of y%, that is your contract rate for x years.
Why do people expect to be able to break the contract they entered into without penalty?
In fact, isn't the point of fixing at y% to create certainty. If you want the advantage of possible lower rates in the future, that's what floating rates are for.


Yes, you are missing that the competition between banks means that Early Adjustment Fees (aka Break Fees) can be waived in order to keep a customer or the gaining bank may offer to cover that fee via a cash bank like in the first post.

If you get an offer from another bank that beats your current banks rates (and they can't match it) and has a cash back to cover your current banks EAF/BF then why would you not take it? It's a pretty simple calculation to work out whether it's worth it.

Aside from the hassle of changing account numbers and payments etc, what reason is there to be loyal to a particular bank?


In the old days people were very loyal towards companies. Not so much these days, apaprt from small locally owned ones. I am pretty loyal though to TSB bank, as it is a small NZ owned bank, and has real customer service, unlike the others.

Mad Scientist
20343 posts

Uber Geek
+1 received by user: 2772

Trusted
Lifetime subscriber

  # 1332362 26-Jun-2015 20:48
Send private message

they just made more money from us than all the dairy farmers combined in the first 3 months of this year




Swype on iOS is detrimental to accurate typing. Apologies in advance.


 
 
 
 




791 posts

Ultimate Geek
+1 received by user: 79

Trusted

  # 1332371 26-Jun-2015 20:56
Send private message

Ok seems like no one has a cheaper rate, that leads me to think everyone is paying market rate.....w h y !?!?




5125 posts

Uber Geek
+1 received by user: 1431

Trusted
Microsoft

  # 1332408 26-Jun-2015 21:58
Send private message

Long time TSB customer here

Asked for a mortgage quote and they came back with a 5.0

where without even negotiating one little bit SBS Bank will do 4.99

What am I missing?



791 posts

Ultimate Geek
+1 received by user: 79

Trusted

  # 1332417 26-Jun-2015 22:05
Send private message

nathan: Long time TSB customer here

Asked for a mortgage quote and they came back with a 5.0

where without even negotiating one little bit SBS Bank will do 4.99

What am I missing?


Great isnt it?




1065 posts

Uber Geek
+1 received by user: 85

Subscriber

  # 1332835 28-Jun-2015 03:49
Send private message

Have just come off fixed for the past two years onto floating at 5.75% with ANZ was fixed at 4.75%. Want to pay some capital off (just waiting for the cash to be released) and watching to see what happens with the dairy prices and exchange rate before re-fixing.

I wonder if the dairy prices and exchange rate drop some more the RB might shave another 0.25% off.

Jon

Mad Scientist
20343 posts

Uber Geek
+1 received by user: 2772

Trusted
Lifetime subscriber

  # 1332847 28-Jun-2015 08:34
Send private message

No if the exchange rate drops the OCR will need to be raised. Which is prevented by the farmers' poor dairy prices.




Swype on iOS is detrimental to accurate typing. Apologies in advance.


12895 posts

Uber Geek
+1 received by user: 4312

Trusted
Lifetime subscriber

  # 1332884 28-Jun-2015 10:37
Send private message

jonherries: Have just come off fixed for the past two years onto floating at 5.75% with ANZ was fixed at 4.75%. Want to pay some capital off (just waiting for the cash to be released) and watching to see what happens with the dairy prices and exchange rate before re-fixing.

I wonder if the dairy prices and exchange rate drop some more the RB might shave another 0.25% off.

Jon


Most bank economists seem to be pricing in 2 more OCR drops.





3295 posts

Uber Geek
+1 received by user: 211

Trusted

  # 1333402 29-Jun-2015 13:46
Send private message

BinaryLimited: Ok seems like no one has a cheaper rate, that leads me to think everyone is paying market rate.....w h y !?!?

Probably because most people don't have the carrot of a $1m mortgage to negotiate with? It's very easy to negotiate with the banks when you're a "high-value" customer.

14905 posts

Uber Geek
+1 received by user: 2025


  # 1333412 29-Jun-2015 13:52
Send private message

With what is going on in Greece at the moment, and the run on banks, it is a bit of wake up call, as these things can have knock on affects. I think many NZer, especially  in Auckland , owe uncomfortably high amounts to banks for their over priced shacks. Banks are your fair weather friends.

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8
View this topic in a long page with up to 500 replies per page Create new topic



Twitter and LinkedIn »



Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:





News »

Xero announces new smarter tools, push into the North American market
Posted 19-Jun-2019 17:20


New report by Unisys shows New Zealanders want action by social platform companies and police to monitor social media sites
Posted 19-Jun-2019 17:09


ASB adds Google Pay option to contactless payments
Posted 19-Jun-2019 17:05


New Zealand PC Market declines on the back of high channel inventory, IDC reports
Posted 18-Jun-2019 17:35


Air New Zealand uses drones to inspect aircraft
Posted 17-Jun-2019 15:39


TCL Electronics launches its first-ever 8K TV
Posted 17-Jun-2019 15:18


E-scooter share scheme launches in Wellington
Posted 17-Jun-2019 12:34


Anyone can broadcast with Kordia Pop Up TV
Posted 13-Jun-2019 10:51


Volvo and Uber present production vehicle ready for self-driving
Posted 13-Jun-2019 10:47


100,000 customers connected to fibre broadband network through Enable
Posted 13-Jun-2019 10:35


5G uptake even faster than expected
Posted 12-Jun-2019 10:01


Xbox showcases 60 anticipated games
Posted 10-Jun-2019 20:24


Trend Micro Turns Public Hotspots into Secure Networks with WiFi Protection for Mobile Devices
Posted 5-Jun-2019 13:24


Bold UK spinoff for beauty software company Flossie
Posted 2-Jun-2019 14:10


Amazon Introduces Echo Show 5
Posted 1-Jun-2019 15:32



Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.


Support Geekzone »

Our community of supporters help make Geekzone possible. Click the button below to join them.

Support Geezone on PressPatron



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.