As does TRA.
However neither have RELs,which are a fantastic secure form of lending.
yes and what a long term demographic boom behind it. It's a nascent industry here, filled to the brim with asset rich cash poor homeowners rapidly reaching their golden years where it makes sense to do a reverse mortgage. Reverse mortgages are big businesses in other parts of the world where NZ lags, particularly the United States.
Sssshhhh...you guys are on to it but lets keep it quiet and hope HGH gets down to $1.94 so they're on a 10% gross prospective yield for FY23 and we can all back the truck and trailer up.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
yes and what a long term demographic boom behind it. It's a nascent industry here, filled to the brim with asset rich cash poor homeowners rapidly reaching their golden years where it makes sense to do a reverse mortgage. Reverse mortgages are big businesses in other parts of the world where NZ lags, particularly the United States.
I agree. I was talking to a mate the other day who's mum needed $100k to do up the kitchen and provide other comforts.
Freehold property worth $1.4m. Went to ANZ bank and asked for interest only. ANZ wanted to know how they would pay back the loan. Son said the intention was to only pay the interest only and why would they pay principal..? ANZ couldnt get their heads around the deal.
Went to HGH who approved a reverse mortgage same day. Only problem was the rate was in the 6% range.
HGH making heaps on this product and the main banks don't want to compete. Amazing situation
does anyone happen to have any lending statistics on reverse mortgage/equity release mortgages for NZ and AU? Like a time series showing total lending by year?
does anyone happen to have any lending statistics on reverse mortgage/equity release mortgages for NZ and AU? Like a time series showing total lending by year?
I wonder when it reached $ 2.59 on retail exuberance over Broker's picks publicity what did holders do ...trim positions as it got overvalued or kept holding for the original purpose of Dividends ?
Very happy long term holder here.
Topped up 18 months ago and have an average holding cost of ~$1.30.
Looking forward to receiving a very nice 5.5 cps dividend in the bank tomorrow, an even larger one in September (probably at least 7.0cps) - and so on! Gross dividend yield on cost of ~13%. A very nice contribution to my now completely passive income.
HGH is 17% of my portfolio as at today and like Percy, I ain't selling any now or in the foreseeable future.
Topped up 18 months ago and have an average holding cost of ~$1.30.
Looking forward to receiving a very nice 5.5 cps dividend in the bank tomorrow, an even larger one in September (probably at least 7.0cps) - and so on! Gross dividend yield on cost of ~13%. A very nice contribution to my now completely passive income.
HGH is 17% of my portfolio as at today and like Percy, I ain't selling any now or in the foreseeable future.
Sssshhhh...you guys are on to it but lets keep it quiet and hope HGH gets down to $1.94 so they're on a 10% gross prospective yield for FY23 and we can all back the truck and trailer up.
Hmmm...not sure if it will got down to $1.94... seems to have gone back to $2.10+....
Last edited by newbieinvestor; 17-03-2022 at 08:19 AM.
Originally Posted by percy
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