House Prices

Mortgagee sales decline

The number of mortgagee sales continues to fall, Terralink data released yesterday reveals.

Monday, December 24th 2012

There were 516 mortgagee sales in the three months from July to September this year, down 15 per cent from the June quarter.

Of the 1.4 million residential mortgages in New Zealand, there were 2265 mortgagee sales in 2011.

Mortgagee sales account for around 0.2 per cent of all mortgages.

"Mortgagee sales are always the last resort for banks. It's not in anyone’s interests that they occur," said New Zealand Bankers’ Association chief executive Kirk Hope.

"Banks work very hard with customers who find themselves in financial difficulty. People who are having trouble should speak to their bank as soon as possible."

Forget the malls for Boxing Day bargains

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SBS FirstHome Combo	4.29
Unity First Home Buyer special	4.29
Co-operative Bank - First Home Special	4.85
China Construction Bank	4.85
ICBC	4.85
TSB Special	4.89
Kiwibank Special	4.89
ASB Bank	4.89
Westpac Special	4.89
BNZ - Std	4.89
AIA - Go Home Loans	4.89

Nelson Building Society	4.93
ICBC	4.95
SBS Bank Special	4.95
China Construction Bank	4.95
Wairarapa Building Society	4.95
TSB Special	4.95
ANZ Special	4.95
ASB Bank	4.95
Kainga Ora	4.95
Westpac Special	4.95
AIA - Go Home Loans	4.95

SBS Bank Special	5.39
Westpac Special	5.39
ICBC	5.39
Co-operative Bank - Owner Occ	5.59
BNZ - Std	5.59
BNZ - Classic	5.59
AIA - Go Home Loans	5.59
ASB Bank	5.59
Kainga Ora	5.69
Kiwibank Special	5.79
ANZ	5.79

SBS Construction lending for FHB	3.94
AIA - Back My Build	4.44
CFML 321 Loans	4.99
Co-operative Bank - Owner Occ	5.95
Co-operative Bank - Standard	5.95
Heartland Bank - Online	5.99
Pepper Money Prime	6.29
Kiwibank - Offset	6.35
Kiwibank	6.35
TSB Special	6.39
ASB Bank	6.44