NZF is starting to compete with banks for home loan business following the success of its $100 million securitisation programme.

All of the major banks have now lifted their short term mortgage rates with Westpac and BNZ the last two to make changes following the Official Cash Rate (OCR) hike of 25 basis points to 2.75% earlier this month.

Frozen Funds Group says the ANZ $45 million settlement is a moral victory for investors, but a financial victory for ANZ which only has to pay out additional compensation of 6c to 10c in the dollar.

Financial advisers can expect a compliance letter from the Commerce Commission to come their way and possibly private action by investors if they sold investment funds marketed by ING and ANZ which were frozen in March 2008.

All of the major banks have now lifted their short term mortgage rates with Westpac and BNZ the last two to make changes following the Official Cash Rate (OCR) hike of 25 basis points to 2.75% earlier this month.

The reserve dispute resolution scheme for financial advisers will be provided by Dispute Resolution Services Limited (DRSL).

Kiwibank is launching a capped floating rate option tomorrow priced at 6.50% for one year and it has also raised its short term rates.

Southern Cross Health Society has been forced to address claim cost inflation as use of the private health sector has seen average annual costs escalate by around 10% last year - up from an 8% rise in 2008.

If ASB had not kicked off mortgage rate increases yesterday, then the Reserve Bank would have started thinking in terms of boosting the Official Cash Rate (OCR) 0.5% in July simply to force the response it wants, says BNZ economist Tony Alexander.

Consumer chief executive Sue Chetwin has hit back at an independent report criticising the institutions mystery shop of financial advisers.

ASB is the first bank to increase mortgage rates after the Reserve Bank hiked the Official Cash Rate (OCR) by 25 basis points to 2.75% last week.

Commerce Minister Simon Power has pledged to find a solution to the confusion that has erupted after changes to proposals for the regulation of mortgage brokers and financial advisers.

Mortgage brokers and insurance advisers are being excluded from the opportunity to become authorised financial advisers (AFA's) after  last minute changes to the Financial Service Providers (Pre-Implementation Adjustments) Bill.

Insurance advisers will no longer have to become authorised financial advisers (AFA’s) unless they are giving investment advice according to a Commerce Committee recommendation on the Financial Advisers Act.

Borrowers shouldn't panic about the Official Cash Rate (OCR) increase to 2.75% today says ANZ chief economist Cameron Bagrie.

Borrowers shouldn't panic about the Official Cash Rate (OCR) increase to 2.75% today says ANZ chief economist Cameron Bagrie.