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Personal Finance

Finance industry examined

GONE: Paraparaumu couple Marvyn Crone, left, and husband Rowland lost 38 per cent of their savings to failed finance companies.

The finance industry suffered from an anything-goes culture lacking in ethics and morals, a parliamentary select committee inquiry into the finance company collapses has been told.

Leaky home owners struggle

A builder

By KATIE CHAPMAN - The Dominion Post

Leaky home owners are struggling to fund repairs as controversy over a Government contribution proposal heats up.

Trustee to scrutinize Allied offer

By KRIS HALL - The Dominion Post

Hanover Finance trustee Perpetual Trust says it will go through Allied Farmers' debt-for-equity offer with a fine-tooth comb to ensure investors fully understand the proposal before voting on the deal next month.

Boston Finance in receivership

Gloomy man

Boston Finance has been placed in receivership, ending a moratorium arrangement in place since March 2008.

Deal good news for Hanover

book

By KRIS HALL - The Dominion Post

Hanover Finance investors could see all their capital returned "plus some" under a debt-for-equity deal agreed between the cash-strapped lender and Allied Farmers.

Banks raise rates

By ROELAND VAN DEN BERGH - The Dominion Post

Banks are raising short-term fixed mortgage rates, indicating the time for cheap loans has come to an end.

Standout peformance for growth funds

Growth funds are the standout performers for the second consecutive quarter, a Mercer survey of KiwiSaver funds shows.

Gripes about banks double

Stressed looking man

Complaints to the banking ombudsman have doubled despite banks often failing to inform customers properly of the process.

Allied signs with Hanover

Hanover Building

Hanover investors will be offered a sweetener to rubber stamp the $400 million deal with Allied Farmers.

More bad news for Hanover

Frozen cash

Cash-strapped lender Hanover Finance could be tipped into receivership by its trustee if the gap between the amount still owed to investors and value of the company's physical assets shrinks much further.

Housing market under pressure

An imbalance between demand and supply is putting upward pressure on prices in the residential property market, according to the latest report from Harcourts New Zealand.

Bank woes double

Interest rate volatility and the failure of sophisticated investment instruments were key drivers of a near doubling of complaints to the Banking Ombudsman.

Accountants as leaders: An Ox or a Moron?

By ADAM DAVY

OPINION: Yeah right. Accountants have never been regarded as thought leaders. More steeped in the past, as the World’s second oldest profession. Even Double Entry bookkeeping has been around for 500 years.

Housing confidence remains high

House of coins

By PAUL MCBETH

New Zealanders are still optimistic about the state of the housing market, according to an ASB survey.

Compulsory saving touted to help close gap

Compulsory workplace saving and a move away from international regulatory standards are two of the changes New Zealand must embrace to bridge the economic gulf with Australia, according to submissions to a task force.

Median house prices surge

House and rainbow

By PAUL MCBETH

House prices hit a 10-year high for the month of October amid a decline in the volume of sales as fewer properties are put on the market.

Westpac warns on overvalued houses

New Zealand's housing market is displaying all the symptoms of a bull market and houses could become overvalued again, Westpac says.

Court delay for Bridgecorp man

Generic business people

By KRIS HALL - The Dominion Post

Insolvency matters raised by the Official Assignee pertaining to the transactions of wealth between bankrupt Bridgecorp founder Rod Petricevic and his family trust have been adjourned until the new year.

Mercer praises super Guardians

Bullseye

By KRIS HALL - The Dominion Post

Those pulling the strings at the NZ Superannuation Fund have received a big thumbs-up for their management and investment practices by global investment consultant Mercer.

Play it safe on lending, banks warned

NZ dollar

By ROELAND van den BERGH - The Dominion Post

Getting a mortgage is becoming easier as banks relax their purse-strings but the Reserve Bank is warning them not to return to the risky lending of the past.

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