Politics πŸ—³οΈ NZ Politics

Highlights Only (8)
dean said:
The 6 month fix looks the best option assuming the next cut is .25% although there are likely to be another couple during the fix period but the savings are for a shorter term. Good news anyway. Banks appear to be competitive at the moment so you may get a rate better than advertised.
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We have been quoted a better rate than advertised but it’s only marginally better.
 
miket12 said:
BTW, @dean, thanks for the question. It was an interesting exercise to see if waiting or going now would be worthwhile.

The other thing I’ve been wondering is if laddering a mortgage into thirds and fixing them for 6 months, 12 months and 18 months would work like it does with term deposits. Then, as each one needs re-fixing, you re-fix for 18 months.

I just don’t know how it would work during a time interest rates are going down and that the principle goes down with each repayment while, with term deposits, the principle keeps compounding.

I may have to write to Mary Holm in the Herald cos it’s above my pay grade to work it out.
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Probably work out quite close but a good idea.
Mortgage interest compounds as it is calculated on a daily basis. That is why it is better to make fortnightly repayments.
 
dean said:
Probably work out quite close but a good idea.
Mortgage interest compounds as it is calculated on a daily basis. That is why it is better to make fortnightly repayments.
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When we were paying back the mortgage on our family home, we used a combination of short term fixing and transferring what we knew we could repay within six months to a rapid repay account. Meant you had to be really disciplined but we were able to pay the mortgage back in less than half the term by also paying more than the minimum payments every fortnight.

Unfortunately, we couldn't do the same with the investment property because of the need to keep our private bank accounts separate from the "business" (investment property) so we're just making larger repayments every fortnight. Won't clear it as quickly but still taking of around six years of the mortgage term and saving around $200,000 in additional interest if we keep the property for that long. It's also not worth using an offset mortgage for an investment property because you reduce the amount of interest to deduct of your tax.... wait for incoming fire from the usual anti-landlord brigade.

We also put everything we can on to the credit card (except for the places that charge extra) and pay that back in full every month so don't pay any interest on it.
 
miket12 said:
The other thing I’ve been wondering is if laddering a mortgage into thirds and fixing them for 6 months, 12 months and 18 months would work like it does with term deposits. Then, as each one needs re-fixing, you re-fix for 18 months.
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Consider that it locks you into the bank until the last term expires and you may have to float short term on the others to get all the loans to finish together if you switched.

I would recommend switching (or at least going through the exercise every 3 years) to get the best deal including with cash back.
 
Funky Ed Koosie said:
The only reason they are so popular is their negative targeting of Maori, any non racist can see that
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I think most kiwis, including māori, prioritise education, health, safety (crime) and a stable economy before culture. It’s the platform for us all to thrive.

The coalition is polling above the left on all those issues individually in addition to being ahead in the overall polls.
 
Noitall said:
More around the treaty bill, where Findlayson says Seymour’s bid makes little sense, even a bit nutty he goes on to describe it
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Yeah I get that, don’t personally think that Seymour’s hardline on the treaty bill is doing anyone any favours as it gives the opposition an opportunity to interpret the motivation for it how they want and call racism. However, until it is at the referendum stage and getting voted in then isn’t it a bit of a side show? In terms of actual implemented policy, what is there that is so racist?
 
Mr. Brownstone said:
Yeah I get that, don’t personally think that Seymour’s hardline on the treaty bill is doing anyone any favours as it gives the opposition an opportunity to interpret the motivation for it how they want and call racism. However, until it is at the referendum stage and getting voted in then isn’t it a bit of a side show? In terms of actual implemented policy, what is there that is so racist?
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Depends on your view but the scrapping of māori health boards and scrapped no fees for young Māori could be deemed by some?
 
Noitall said:
Depends on your view but the scrapping of Maori health boards and scrapped no fees for young Māori could be deemed by some?
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See I strongly disagree on this - health should always be on a needs basis, other than targeted education about health, I don’t believe ethnicity should ever play a part. Our low socio-demographic population should have equal access to state funded healthcare irrespective of whether they are māori, PI, European, etc.
 
Mr. Brownstone said:
See I strongly disagree on this - health should always be on a needs basis, other than targeted education about health, I don’t believe ethnicity should ever play a part. Our low socio-demographic population should have equal access to state funded healthcare irrespective of whether they are Maori, PI, European, etc.
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hang on just a minute!!!
surely you’re not implying that ALL lives are of equal value and that NO ethnicity is more important than another?!

what a ridiculous notion.
πŸ₯΄
 
Mr. Brownstone said:
See I strongly disagree on this - health should always be on a needs basis, other than targeted education about health, I don’t believe ethnicity should ever play a part. Our low socio-demographic population should have equal access to state funded healthcare irrespective of whether they are Maori, PI, European, etc.
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When an ethnic group is having different outcomes to others, why should that group not be in charge of their own outcomes? Education absolutely has a part to play here, as does income and many other factors
 
Noitall said:
When an ethnic group is having different outcomes to others, why should that group not be in charge of their own outcomes? Education absolutely has a part to play here, as does income and many other factors
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Why should NZ’ers that sit outside of a specific ethnic group, but with equally significant hurdles to overcome, be excluded from receiving satisfactory state funded healthcare?
 
Mr. Brownstone said:
Why should NZ’ers that sit outside of a specific ethnic group, but with equally significant hurdles to overcome, be excluded from receiving satisfactory state funded healthcare?
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Why would they be excluded? All I mentioned was a particular ethnic group being in charge of their own health outcomes. In fact the whole system could probably focus on an individualistic outcome, since many don’t fall into one particular category often
 
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