Final battle for control of Mike Pero Mortgages starts

The fate of Mike Pero Mortgages, which writes around about $600 million worth of loans each year, is to be decided later this month. Half owner NZF has called a shareholder meeting to decide whether it should sell its half share to joint venture partner Liberty Financial. This story shows how dysfucntional the relationship between the partners has come and reveals there is also a disputed shareholder loan. You can read the story here 

In rate news we reported on Kiwibank's decision to take its two-year fixed rate below the 5% mark. AMP Home Loans rates have been updated today too.