News on Home Loans in New Zealand

Banks under fire again for high fees

UncategorizedBank feesWe’ve seen this before with ANZ being forced to pay back a number of fees and now the same group have Kiwibank in their sights.
Kiwibank have long trumpeted their low cost banking. This has been true of their fee free current accounts and at times low interest rates. However I have seen a number of people being stung with large fees for re-fixing loans or even larger fees if they want to leave the bank and take their lending elsewhere for a better deal.
The reality is that every bank is guilty of this. Like many big businesses they will charge just as much as they can get away with. If they can entice you with a low interest rate, cash back offerings or even a free tv as we have seen lately then they have your business. If you go in with blinkers on only seeing those offers and don’t consider the other costs then you could well wind up with more a more expensive loan over time.
That is why I will use the different banking options that I have available and my experience to ensure that you not only get the best deal for interest rates and other promos that you see advertised but that you get a loan product that is fairly priced.
I also provide advice on tailoring a loan structure that fits the way you spend your money and best allows you to achieve your financial goals. By regularly reviewing these goals and ensuring your structure moves as your financial situation does then you can make big gains.
To top it all off, my service is free. The banks pay me.
So if you current loan is a little tired, you think you’re not getting the best deal or you just want some help setting and achieving some goals for reducing your mortgage then get in touch.
Adam
adam@mymortgage.net.nz
See full article about “fairplay on fees” here… http://www.stuff.co.nz/business/money/9394121/Fair-Play-on-Fees-group-targets-second-bank