Economist explains: How banks rip you off
Ever feel like you're being unfairly charged by your bank? You're not alone.
In this episode of Property Now, Ed, an economist with firsthand experience in the mortgage industry, examines the underlying reasons banks often seem to have the upper hand and how you can turn the tables.
From understanding the true cost of a mortgage to learning negotiation skills for better rates, Ed provides invaluable insights that could save you thousands.
Пікірлер: 12
I have several mates with mortgages that have no idea how much they are paying in interest.
Big aussie banks making record profits! Dam straight we feel ripped off!
Is it better to pay down your OO or keep the funds to use as a deposit for an investment at another bank?
NZ banks are the 2nd most profitable banks in the world just behind Canada research done by S&P in 2023, which is not news!
Are you suggesting that banks are not price gouging even slightly with their interest rates? I'm surprised their profits have continued to soar even when there's not much new debt being created.
HOLD UP, what happens if someone has multiple investment properties that are paying for themselves ( and still has mortgages )but “Me”the owner cant work anymore because of an injury or something? Are you telling me the banks will force me to sell because i no longer have an income? What happens if my income changes significantly and i choose to stop chasing the dollar but want to retain my properties because they are self funding? The Senario you gave in the video of the old couple seems abit off?
@JohnZoetebier
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Seems fishy to me too. Also, never ever put all your savings money in one bank. NZ does not have a bank guarantee, so you might lose all your savings in one go if the bank fails. This is not imaginary. Happens all the time in the US.
I feel ripped out
Can I actually contact you to be my mortgage broker?
How about the interest you earn from the. Bank investment 😂😂😂😂
Never spend more than the cash you have on hand