anyone with NZ Home Loans?

Hey we are with them and find them good, They definately sounded good when we met with them but TBH they aren't much better than with a bank.
The good points are having the transactional account where all you money is in one place and you pay less interest on the mortgage, most months we save like $15 in interest rather than if we didn't have a transactional account, not much but $15 is $15, not sure if that makes sense. And you have a mortgage broker that you can always contact, and they give you budget tracking software so you can see where you are going. So it is good and we would go with them again, hopefully that makes sense, feel free to ask any questions

Yeah we have them and like them. I like the way the accounts are revolving credit, so although we never have any money, there is nearly always money to redraw.

Love the service that you get, having your own broker to help with any questions is great for when you don't understand something.

I would definitely recommend them

I've never heard of this company before, but customers seem to have positive things to say about them.

Personally, I'd be very wary of entrusting 'my' home with a company so young and with one which doesn't have any of the weight of a larger bank, should things take a turn for the worse.

I wonder what happens if one of the franchises goes bust. Would this impact on the whole company?

I'm probably being over cautious, but it all sounds very risky

It wasn't that long ago finance companies were falling like dominoes. Elsewhere in the world, huge banks were going under or having to be saved by the government.

OK, I'll shut up now, cause I really don't know much about this company

NZHL is 50% owned by Kiwibank not really sure how that changes anything but I guess has a bit of security in it, and all of their loans are actually through a bank so our loan comes from Kiwibank but is administered by NZHL, thats my understanding anyway, not really up on finances at the mo, but am working on it.

A friend just got a 'revolving credit everyday account' with Westpac and the rate was 5.6%

What I would like to know at the en of the day is what is their mortgage interest rate over the different lengths of time. ie.variable, 2 & 5 yrs. ThisI have never been able to get out of them which is out there at the banks. When I did contact them all I got was I want to come and see you but no info. I'd like to know I amsign ing up to a bank or in this case a ?? bank?? It sounds as though NZ Home Loans is perhaps running off the coat tails of your normal banks. Plse explain.   

The loans are all underwritten by kiwi bank so ur money is as safe with them as with kiwi bank...

My friend is a loyal customer of this firm. I am not a customer of this company. I would definitely look forward to use their services.

I am an accountant & had a home loan with NZHL a couple of years ago. So at that time the interest rate is ALOT higher than any bank! They say that doesn't matter because you will pay it off a lot faster than you would with a bank therefore saving you thousands. I know of some friends who also have their home loan with NZHL, they swear by them but they are still not mortgage free...
They claim you will pay it off in 7-ish years, I'm still to find someone who has done that. There is no quick fix & paying off your home loan in a short time is about discipline, this type of mortgage with NZHL is only for people who REALLY TRULY will be disciplined enough and dedicated enough to make sure you do pay it off sooner. If you are not I would not go with them, you can do exactly the same thing with any bank and pay a cheaper interest rate that's for sure!

I wouldn't go with them again, interest rates are way too high & I prefer a bank.

Edited by RaquelWither140176 - 14 March 2014 at 1:13pm

i wouldnt do it. My mother has been with them and they were terrible. kept taking wrong amounts out for mortgage and wouldnt explain why, really bad customer service.