Misc

Kiwis teeter atop debt mountain

The residential property market is close to sinking under the weight of its own mortgage debt.

Sunday, February 15th 2004

Reserve Bank figures show mortgage debt has ballooned in the past two years, from $67.9 billion in December 2001 to $86b at the end of 2003.

If New Zealanders keep borrowing at the same rate, total mortgage debt will exceed $100b in 12 months.

That is leading to concerns that many households are so loaded with debt that even a small rise in interest rates or reduction in their disposable income could mean they struggle to meet repayments.

The problem is becoming acute because the debt mountain is not spread evenly across households.

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Changes at Tenancy Services for landlords

Unity First Home Buyer special	3.99
ICBC	4.25
SBS FirstHome Combo	4.29
Co-operative Bank - First Home Special	4.35
TSB Special	4.39
Co-operative Bank - Owner Occ	4.45
ANZ Special	4.49
ASB Bank	4.49
SBS Bank Special	4.49
Unity Special	4.49
Westpac Special	4.49

ASB Bank	4.49
TSB Special	4.49
AIA - Go Home Loans	4.49
SBS Bank Special	4.49
Kainga Ora	4.49
BNZ - Std	4.49
Kiwibank Special	4.49
Wairarapa Building Society	4.59
Nelson Building Society	4.59
ICBC	4.59
Unity Special	4.65

ICBC	4.99
BNZ - Std	4.99
SBS Bank Special	4.99
Kainga Ora	5.15
ASB Bank	5.15
AIA - Go Home Loans	5.15
Westpac Special	5.29
TSB Special	5.39
Kiwibank Special	5.39
Co-operative Bank - Owner Occ	5.49
BNZ - Classic	5.59

SBS FirstHome Combo	3.29
AIA - Back My Build	3.34
SBS Construction lending for FHB	3.74
CFML 321 Loans	3.95
Co-operative Bank - Owner Occ	4.99
Co-operative Bank - Standard	4.99
Heartland Bank - Online	5.30
ICBC	5.39
Kiwibank - Offset	5.65
Kiwibank	5.65
ANZ	5.69

Misc

Kiwis teeter atop debt mountain

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