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Kiwibank eases home loan conditions by dropping its LVR constraint for its lowest rates

Kiwibank eases home loan conditions by dropping its LVR constraint for its lowest rates

Kiwibank have withdrawn the 30% equity condition from their three 4.99% specials.

That condition applied to their 6 month, 1 year and 2 year fixed mortgage rates, each of which is currently priced at 4.99%.

They continue to deem these as ‘special’ and ‘limited time’ rates.

This easing of loan conditions comes as the traditional 'Spring' home loan market competition heats up in an unusual way this year - prices are rising, but sales volumes are lagging because of a significant shortgage of listings.

Banks are competing hard for business in a slow growing market.

You can find all current mortgage rate offers here »

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And at the home of the Oz banks:
Tighter lending criteria and persistently high house prices are holding back a stronger recovery in the housing market, while more houses are worth less than their mortgages, a new report says.
The JPMorgan Australian mortgage industry report shows that nearly 70 per cent of home refinance loan applications are being declined on the basis of insufficient income or inadequate loan-to-value ratios, as regulators push for stricter standards from lenders.
"We are tipping a barrier in terms of people's ability to refinance because of income and LVR issues," said Martin North, principal of Digital Finance Analytics, who contributed to the report.
He said that in earlier years the most common reason for a refusal was a change in the personal circumstances of the borrower.

Read more:

I am being paid 4.75 % for one year depo as of today from a NZ major - what does that tell yah! - flow counts- the rest is bollocks

It tells you thats a rubbish return?

Yes, I could not agree more - if UK, US, Japan and EU citizens can hardly repay zero cost of finance, what chance does a Kiwi have? - borrower default is staring me in the face - but cannot employ money elsewhere - certainly cannot risk having funds/securities hijacked in the UK & US by publicly authorised rehypothecation scams- local and central NZ government are forever unexpectedly bailing out the entitled.

Nonetheless, I remain hopeful the ravages of falling interest rate deflation maybe coming to an end. Read more

"70% of home refinance apps are being declined..."
A timely reminder that the mortgage machine is not friendly and that you are there to primarily help them, which is no guarantee of reciprocity.