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

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news