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Nate wants an iphone
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  Reply # 1798208 11-Jun-2017 21:46
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If you ask the right bank (not Kiwibank for instance), you can still secure interest rates that start with a 3, but defintely at the upper end of 3% (eg. 3.9x%)... I'm the process of getting my home loan sorted this month :) 





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  Reply # 1798209 11-Jun-2017 21:55
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cokemaster:

If you ask the right bank (not Kiwibank for instance), you can still secure interest rates that start with a 3, but defintely at the upper end of 3% (eg. 3.9x%)... I'm the process of getting my home loan sorted this month :) 



Who do you suggest talking to at the moment - Im in the same position. Kiwibank haven't done any discounts for the last couple of months but that may change soon (I'm with Kiwibank at the moment and that is what they tell me).

 
 
 
 


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  Reply # 1798235 11-Jun-2017 23:54
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The other thing to remember is the broker will renegotiate your fixed term rates when they come up.  Screw having to negotiate with the bank every 12 months etc.


Nate wants an iphone
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  Reply # 1798759 12-Jun-2017 18:30
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Handle9:
cokemaster:

 

If you ask the right bank (not Kiwibank for instance), you can still secure interest rates that start with a 3, but defintely at the upper end of 3% (eg. 3.9x%)... I'm the process of getting my home loan sorted this month :) 

 



Who do you suggest talking to at the moment - Im in the same position. Kiwibank haven't done any discounts for the last couple of months but that may change soon (I'm with Kiwibank at the moment and that is what they tell me).

 

In short: HSBC. Their board rate for 18 months is currently sitting at 4.09%pa but they will be prepared to move further south and offer a cash contribution. Note that they do have a minimum mortgage ($500k) or banking relationship required to access their mortgage products. 

 

I also suggest either checking out http://www.interest.co.nz/borrowing as they have most of the rates from the various banks and credit unions. 

 

In terms of other banks - would suggest ANZ, BNZ, Westpac... they've all been prepared to 'sharpen their pencils' (ANZ even proactively go to their pricing team to get a better rate :) )  although they couldn't meet the HSBC rate by quite a significant margin. Its my experience that Kiwibank will 'sharpen their pencils' for acqusition purposes but otherwise be prepared to accept the board rates afterwards. I haven't tried out a number of the smaller banks - eg. TSB, some of regional credit unions but largely their interest rates haven't been as sharp so I haven't kicked the tyres with them. 





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  Reply # 1798783 12-Jun-2017 19:17
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Thanks. My experience with Kiwibank has been they will always match rates and cash contribution (or at least they have the last two times Ive fixed) however they aren't doing that at the moment.

I haven't tried hsbc yet and I've had bad experiences at ANZ. Im waiting for pricing from Westpac and ASB at the moment. Will add hsbc to the mix.

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  Reply # 1801608 15-Jun-2017 15:38
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ArcticSilver:

 

The idea behind a mortgage broker is that they bundle together a whole lot of mortgages try and get a better rate out of the bank. Because they are bundling they have more clout. It's suppose to be a win win.

 

The bank pays the mortgage broker for the referral and you as the mortgagee get the better rate.

 

You can try going to the bank directly and negotiating a good rate, but I suspect you'll be pushing uphill vs a mortgage broker (though there would be no harm in trying).

 

 

Only time I've used a broker was the first time I had a mortgage - after that I've always done better than a broker can do by negotiating directly.  Another trick is to advise your existing bank your moving on before you actually sign with another bank as usually there is a team which handles retaining business they are about to loose and have the power to offer bigger discounts that a regular bank manager cant offer.

 

 

 

 

 

 


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  Reply # 1801647 15-Jun-2017 17:10
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The only time I use a broker is to have something to take to my banker to negotiate with.


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