- Weekly mortgage payments up from 2022.
According to figures released by Stats NZ last week, average mortgage payments increased by 27.5 percent in the year ended June 2023. It’s the most significant rise since 2008. Increase primarily driven by rising interest rates for mortgage-holders. Find more data in the PDF.
- BNZ offers a 5% deposit loan.
BNZ has recently raised the maximum LVR for residential property to 95%. Existing BNZ clients can now apply for home loans with a deposit as low as 5%. This move presents an opportunity for first-home buyers to step onto the property ladder with a lower upfront investment. However, there are some important considerations and nuances. Lending criteria and terms and conditions apply, and seeking professional advice can help borrowers navigate these complexities and make informed decisions.
- RBNZ Policy Review - 28 February.
As the Reserve Bank of New Zealand gets ready to review its policies, there’s a lot of uncertainty about what they might decide.
Download the full PDF version now!