The problem getting in the way of first home buyers is not financial, it is psychological, an experienced mortgage adviser says.

The latest data from the RBNZ’s series new lending fully secured by residential mortgages, shows home owners are far from set on longer mortgage terms, although the interest rates are below 5%.

Westpac’s negotiations with New Zealand mortgage aggregators about ditching trail payments comes just seven months after it partnered with fintech Dosh to offer home loans without financial advice and a loyalty cashback reward.

The RBNZ is forming a new financial policy committee that will make decisions on debt-to-income (DTIs) and loan to value ratios (LVRs) for lending.

ASB will pay $135,625,000 to settle a class action against the bank for alleged breaches of the Credit Contracts and Consumer Finance Act (CCCFA), without admitting liability.

Mortgages to property investors are back at pre-pandemic levels, Westpac says in its latest housing update.

A cut from the RBNZ next week is all but a done deal. The only question is how much it will be – 0.50% or 0.25%?

For the first time, the FMA and Commerce Commission will share the stage to speak directly to mortgage and financial advisers about the upcoming transfer of consumer credit regulation from the commission to the FMA at the Financial Services Federation (FSF) conference next month.

Although switching banks to get a cash bank or better terms is still top of the list for many mortgage holders, it slipped back last month.

Advisers need to get on the front foot and work with their clients on a long-term strategy amid a weakening economic outlook, the Finance and Mortgage Advisers Association of New Zealand (FAMNZ) says.

A push by FAMNZ to get the Government to mandate continuing professional development (CPD) for mortgage advisers has many wondering how many hours they should be putting in.

More than 40% of households who took part in the latest Westpac McDermott Miller Consumer Confidence say their financial position has deteriorated over the past year.

While the Reserve Bank is expected to cut the OCR to 2.5% by the end of the year, the age-old question being faced by mortgage advisers from clients about whether to float of fix their mortgage interest rate is more common now than ever before.

Within the next six months AI will be playing a pivotal part in the processing of mortgage applications for Loan Market.

Westpac says there are signs that more marginal borrowers are being drawn into buying homes.

Housing supply has overtaken population growth in the country’s biggest city Auckland and the capital keeping a lid on prices –another piece of good news for first home buyers.