A broker on the radio suggested it was the Reserve banks new lending rules re deposits on houses increasing in Auck that suppressed the s/p.
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A broker on the radio suggested it was the Reserve banks new lending rules re deposits on houses increasing in Auck that suppressed the s/p.
Well...if it all doesn't go as you hope Kizame....here is the remedy.
They will be shaking in their boots !
http://edition.cnn.com/2015/05/13/as...ief/index.html
Wouldn't rule it out though, as they are also aiming at retirees and rural,but don't know how the residential mortgages fit with HNZ,I think it is quite different from Harmoney, so different client base maybe,also aiming towards a niche local chinese population,that would be very lucrative I suspect.
Pretty hefty cut taken by Lend Me. I have serious reservations about this sector and suspect the real winners will be the equity owners of the p2p lenders and the fraudsters who commit identity fraud and never make a payment.
Lots of risk of default all worn by the investors...hmmm.
I share your reservations Roger. Although innovative, technically clever, and enabled by the FMC Act 2013, I can't help wondering if it's all a function of leveraging a frothy marketplace and is exposed to 'last in first out' risks. That and the nature of the low-doc arms length lending, has unquantifiable risks written all over it. LendMe (cheeky rip off brand name) does seem pitched at a much larger borrower though $20k - $2m. Their talk of aligning specific lender demographics with like borrowers is an interesting twist, it may even work. A league away from HNZ's Harmoney platform targeting the down and out's.
That interest free period on the new lounge suite run out and payments now much higher? Contact XXX now to see what we can arrange to make your life easier. XXX a division of Heartland
Ad on the radio lately
Didn't properly catch who XXX was but not familiar
Any ideas
Growth must be getting hard to come by
Maybe this http://www.ifinanceloans.co.nz