Local property insider Joe Wilkes and I discuss the upcoming NZ budget. Will it step up. or just support property some more?
Before The Budget – With Joe Wilkes
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– “KiwiBuild”: The government in Wellington has completely killed this program.
Question:
– Mr. Wilkes said that some 36% of (mortgage) loans issued in New Zealand were “Interest Only”. Do these mortgages stay “Interest Only” for the duration of the mortgage ? Or do these loans reset to “Principal & Interest” after say 4 or 5 years (like in Australia) ?