Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


New property calculator matches affordability with reality


MEDIA RELEASE
2 April, 2012

New property calculator matches affordability with market reality


A market first calculator allowing house-hunters to view property listings within their price range is one of the features of Westpac’s new look website.

The easy to use ‘What could my rent get me?’ calculator is one of a number of innovative tools to help customers find solutions to a variety of personal finance matters. Linking with Trade Me, New Zealand’s number one real estate site, the new feature allows customers to instantly match affordability with market reality.

Westpac’s General Manager Retail Gai McGrath says it’s about making things easier for customers.
“Many first home buyers have no idea what size mortgage they can afford, let alone what sort of property they can get for their investment. For those looking to move up the ladder, this lets them match aspiration with market reality,” Ms McGrath said.

Westpac’s innovative approach to home lending has seen positive results both in growth and performance, and achieved industry recognition.

In the past year, Westpac has grown its mortgage book two times faster than market, with 60% of home loans being approved in one hour.

In addition, Westpac is the only financial institution to be awarded a five-star Canstar rating in every housing category.

“Customers are making big decisions and it’s about providing access to as much relevant information as possible to help that process,” Ms McGrath said.

The new website includes a range of other calculators and online tools including, ‘How can I split my home loan?’, ‘Fine tune my loan’, and ‘Can I move or renovate?’

Westpac’s new website and calculators are the latest in a range of innovative financial tools from Westpac – including the award winning ‘Impulse Saver’ and ‘Cash Tank’, recently featured by the New York Times.

The calculator can be found at http://westpac.co.nz/home-loans/calculators/rent-as-mortgage

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Scoop Business: NZ Broadcasters Launch Battle Against Global Mode ISPs

New Zealand broadcasters have confirmed they’ve launched legal proceedings against internet service providers who give customers’ access to “global mode”, which allows customers access to offshore online content, claiming it breaches the local content providers’ copyright. More>>

ALSO:

Sanford: Closure Of Christchurch Mussel Processing Plant Confirmed

The decision comes after a period of consultation with the 232 staff employed at the Riccarton site, who were told on 9 April that Sanford was considering the future of mussel processing in Christchurch. Recent weather patterns had impacted on natural spat (offspring) supply... More>>

ALSO:

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Scoop Business: Reserve Bank’s Spencer Calls On Govt To Rethink Housing Tax

The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland property market. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news