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Cloud Guru
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  # 267613 28-Oct-2009 10:09
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i usually get my bank to match, or beat the lowest rate offered elsewhere. the only time i have ever been charged fees is when i broke a fixed rate early (early repayment penalty). i even had an arrangement for a floating rate mortgage with a discount of .5% from standard book rates (i doubt they would discount as much now).

If you go to another bank, not only would you probably pay no fees, you could probably get them to cover your solicitors fees too.... at least talk to another bank before accepting any fees @ BNZ






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  # 268765 31-Oct-2009 10:29
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well since the alan bollard announcement i've decided not to commit to anything particularly as it costs money to commit - dumb eh ... i was told the fee will not be waived.

looks like going to floating until they decide to raise the ocr and then i'll fix ...




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Cloud Guru
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  # 268925 1-Nov-2009 00:38
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if you wait for the OCR to be lifted, the interest rates will probably already have shot up...




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  # 268935 1-Nov-2009 07:26
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The OCR doesn't affect fixed interest rates very much - fixed loans come more from overseas funding.




 

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  # 269111 1-Nov-2009 22:07
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TinyTim: The OCR doesn't affect fixed interest rates very much - fixed loans come more from overseas funding.


given the way that fixed interest rates have gone up and down with the OCR cuts and rises i'd have to disagree with that... while the OCR may not be the direct source of funding for the fixed lending (which is apparently about 90% of the residential mortgages) it obviously still has a flow on effect




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  # 269112 1-Nov-2009 22:12
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TinyTim: The OCR doesn't affect fixed interest rates very much - fixed loans come more from overseas funding.


that's the excuse banks give when they don't pass on OCR cuts,  and it may be true,  but you can bet your life that when the OCR goes up,  they will be quick to follow with hikes of their own and the whole "fixed loans come from overseas" thing gets swiftly forgotten.



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  # 269152 2-Nov-2009 07:13
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just like petrol stations




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