What grinds your gears?

[Xenolightning]

Xsannz, you are being a muppet.

Official Lending Rate is what we call the Official Cash Rate in NZ.

In layman's: Lower numbers are to encourage spending, higher numbers to encourage saving. It is altered in attempt to reduce inflation.

The MARKET lending rates are similar. 6% mortgage 13-18% Credit.




Just as a side note, if Canada was lending at 1% PA.

Borrow 1000CAD = 1075NZD

Put in NZD bank account @ 4.5% interest

12 Month = 1123NZD = 1044CAD

Pay interest of 1%x1000CAD = 10CAD

Profit = 35CAD

You made money, by doing nothing. Scale this up as there is no risk, and you make an infinite amount of money and crash the economy.

[Tiwaking!]

You made money, by doing nothing. Scale this up as there is no risk, and you make an infinite amount of money and crash the economy.

The Chinese Yuan is where the real money is at. CNY5.5 = 1NZD and now crashed to CNY4.6715 = 1NZD

[Lias]

What I want to know is why don't personal loan, credit card etc rates rise and fall with the OCR like mortgages.

When mortage rates were pushing 9-10%, personal loans were 14-18%.. Mortgages are half that, loan rates are unchanged..

[Xsannz]

Xsannz, you are being a muppet.

Official Lending Rate is what we call the Official Cash Rate in NZ.

In layman's: Lower numbers are to encourage spending, higher numbers to encourage saving. It is altered in attempt to reduce inflation.

The MARKET lending rates are similar. 6% mortgage 13-18% Credit.




Just as a side note, if Canada was lending at 1% PA.

Borrow 1000CAD = 1075NZD

Put in NZD bank account @ 4.5% interest

12 Month = 1123NZD = 1044CAD

Pay interest of 1%x1000CAD = 10CAD

Profit = 35CAD

You made money, by doing nothing. Scale this up as there is no risk, and you make an infinite amount of money and crash the economy.

you are right, i shouldn't post before morning coffee and actually reading everything

[Apostrophe Spacemonkey]

What I want to know is why don't personal loan, credit card etc rates rise and fall with the OCR like mortgages.

When mortage rates were pushing 9-10%, personal loans were 14-18%.. Mortgages are half that, loan rates are unchanged..

My guess is because personal loans don't have security. If a bank offered low interest rates on a person loan, they'll get more customers of their competitors, but more risk as well. If too many of those loans go bad, they'll be screwed.

With a mortgage, the bank can just sell your house, so they can afford to be competitive on the rates.

[Xenolightning]

What I want to know is why don't personal loan, credit card etc rates rise and fall with the OCR like mortgages.

When mortage rates were pushing 9-10%, personal loans were 14-18%.. Mortgages are half that, loan rates are unchanged..

My guess is because personal loans don't have security. If a bank offered low interest rates on a person loan, they'll get more customers of their competitors, but more risk as well. If too many of those loans go bad, they'll be screwed.

With a mortgage, the bank can just sell your house, so they can afford to be competitive on the rates.

This and there's not much competition in that space as Personal Loans don't tend to make a large return for the bank. Bank's are happy to offer them, but won't fight over them.

[Craigor]

This and there's not much competition in that space as Personal Loans don't tend to make a large return for the bank. Bank's are happy to offer them, but won't fight over them.

^ Yup
$5000 loan over 2 years at 14.95% interest = around $650 profit after 2 years
I pay more than that in interest every fortnight on my mortgage..

[Xsannz]

This and there's not much competition in that space as Personal Loans don't tend to make a large return for the bank. Bank's are happy to offer them, but won't fight over them.

^ Yup
$5000 loan over 2 years at 14.95% interest = around $650 profit after 2 years
I pay more than that in interest every fortnight on my mortgage..

heel yeah my fortnightly interest on the mortgage puts most interest on car loans and the like to shame.

[Xenolightning]

I should start charging for my financial advice on here lol.

Not that I'm saying it's any good.

[mycoolcar]

All your advice is shit babe, but you make up for it by being so damn cute.

[Retardobot]

lel mortages.

30, no house, no kids. Dat 0 responsibility bae

[Xsannz]

All your advice is shit babe, but you make up for it by being so damn cute.

you still living it up in aus?

[mycoolcar]

All your advice is shit babe, but you make up for it by being so damn cute.

you still living it up in aus?

Whatever gave you the impression I was in Australia?

[Kayne]

I was behind some moving truck yesterday

The back of it had bullet points of what they do

The last one was "No job to big or to small"

It killed me inside

After an extremely quick google, I found their website, We should all contact them demanding they fix the error. I'll give a shout when I see a van with an extra "o" scribbled in vivid on it.

[Apostrophe Spacemonkey]

I'll ring them up and ask them to move a stapler on my desk.

Then ask them to move Egypt to the pacific.


Then no one will ever use the term "No job too big or too small" again.

[Pyromanik]

So I was watching Lost (well... sorta).
Early seasons. Sun and Jin were still full time Korean.

"He's over they're helping the others" (or something to that effect) comes up on screen as a subtitle.

This is a professional production people.
Well, at least it wasn't "theyre" I guess.

[Tiwaking!]

When I search for "piers morgan is a cunt" a lot of the results come up with the word 'Twat'. What kind of ludicrous future is this where a sophomoric contumely like 'Twat' is equated to the resplendently peerless blasphemy that is 'Cunt'

[The Demon Lord]

lel mortages.

30, no house, no kids. Dat 0 responsibility bae

Hope you are enjoying paying someone elses mortgage off.

[Apostrophe Spacemonkey]

I'm a ratepayer!

Dear Ratepayer,

Please find attached your latest rates instalment notice.

Payment of this invoice is due by 26 Feb 2015.

I'm sure I'll find these emails less exciting as time goes on.

[The Demon Lord]

I'm a ratepayer!

Dear Ratepayer,

Please bend over and bite the pillow, Len needs to hire a new sexretary.

Payment of this invoice is due by 26 Feb 2015.

I'm sure I'll find these emails less exciting as time goes on.

Fixed.

[Apostrophe Spacemonkey]

Those sexretaries cost a lot of money. Someone has got to pay for it.

[Lias]

The worst part about the whole Bevan Chuang thing is I work with a guy called Bevan Chan, and I get horrible mental images of him and Len Brown getting it on.

[Retardobot]

lel mortages.

30, no house, no kids. Dat 0 responsibility bae

Hope you are enjoying paying someone elses mortgage off.

Try another played out trope.

At $140 a week that includes all utilities and expenses in a beautiful 2 story lockwood style home, I don't care what I'm paying off. You'll be blue in the face before you convince me your 30 year mortgage debt of 300K+ is better than my situation.

[Xsannz]

I'm a ratepayer!

Dear Ratepayer,

Please find attached your latest rates instalment notice.

Payment of this invoice is due by 26 Feb 2015.

I'm sure I'll find these emails less exciting as time goes on.

they just annoy the shit out of me, as they come exactly 2 weeks  after my quarterly Insurance for the house is due..

[Xsannz]

lel mortages.

30, no house, no kids. Dat 0 responsibility bae

Hope you are enjoying paying someone elses mortgage off.

Try another played out trope.

At $140 a week that includes all utilities and expenses in a beautiful 2 story lockwood style home, I don't care what I'm paying off. You'll be blue in the face before you convince me your 30 year mortgage debt of 300K+ is better than my situation.

actually the feeling of being able to hammer something into the wall and not care is actually rather satisfying, there is sometime a lot of satisfaction thinking wow this is mine (or mostly the banks) and then there are days when shit needs fixing and you feel like you are shackled to a sinking ship that is falling apart around you.