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05-09-2015, 06:30 PM
#6301
Farm Equity Release
Originally Posted by Joshuatree
A (upto) seven year loan with the interest accumulating!
Best Wishes
Paper Tiger
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05-09-2015, 07:52 PM
#6302
Originally Posted by Paper Tiger
A (upto) seven year loan with the interest accumulating!
Best Wishes
Paper Tiger
Yes I noticed that too PT. It appears nothing was learned from the GFC. One of the main issues in regard to finance companies coming unstuck was what you're alluding too, capitalising interest, (usually on property development loans). This coming in a week when the Reserve bank expressed concern with the additional $3.5 billion of new farm loans raised this year.
This strikes me as a quasi home equity release type product, perhaps some sort of veiled acknowledgement the HER division has underperformed expectations ?
One would hope the LVR limits have been set at a far more conservative level than the rest of their rural book at 61% otherwise with capitalising interest and declining farm prices it won't take long for Mr and Mrs Farmer to be underwater.
Last edited by Beagle; 05-09-2015 at 08:04 PM.
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05-09-2015, 08:36 PM
#6303
Of tigers and optimism
Originally Posted by Roger
Yes I noticed that too PT. It appears nothing was learned from the GFC. One of the main issues in regard to finance companies coming unstuck was what you're alluding too, capitalising interest, (usually on property development loans). This coming in a week when the Reserve bank expressed concern with the additional $3.5 billion of new farm loans raised this year.
This strikes me as a quasi home equity release type product, perhaps some sort of veiled acknowledgement the HER division has underperformed expectations ?
One would hope the LVR limits have been set at a far more conservative level than the rest of their rural book at 61% otherwise with capitalising interest and declining farm prices it won't take long for Mr and Mrs Farmer to be underwater.
Best Wishes
Paper Tiger
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05-09-2015, 09:24 PM
#6304
Originally Posted by Paper Tiger
Best Wishes
Paper Tiger
KH , crazy classic movie...................................
negativity , some people thrive on it, gets really boring.
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08-09-2015, 03:20 PM
#6305
Not ideal....did "we" already know this ?
http://www.sharechat.co.nz/article/a...g-2-2-mln.html
"The latest liquidators report in May 2015 from Blacklock Rose liquidator Garry Whimp said two secured creditors – understood to be Heartland Bank and Trade Publication Ltd, are owed $1.449 million. The IRD has put in a claim for $287,190, while the company owes wages and holiday pay of $18,125. Claims from a further 24 unsecured creditors have been received totalling $625,631."
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08-09-2015, 03:20 PM
#6306
Not ideal....did "we" already know this ?
http://www.sharechat.co.nz/article/a...g-2-2-mln.html
"The latest liquidators report in May 2015 from Blacklock Rose liquidator Garry Whimp said two secured creditors – understood to be Heartland Bank and Trade Publication Ltd, are owed $1.449 million. The IRD has put in a claim for $287,190, while the company owes wages and holiday pay of $18,125. Claims from a further 24 unsecured creditors have been received totalling $625,631."
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09-09-2015, 10:53 AM
#6307
Looks like its on move up slowly.....don't wanna jinx anybody though. Some big player might come and change it all over.
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09-09-2015, 11:18 AM
#6308
Originally Posted by RTM
Not ideal....did "we" already know this ?
http://www.sharechat.co.nz/article/a...g-2-2-mln.html
"The latest liquidators report in May 2015 from Blacklock Rose liquidator Garry Whimp said two secured creditors – understood to be Heartland Bank and Trade Publication Ltd, are owed $1.449 million. The IRD has put in a claim for $287,190, while the company owes wages and holiday pay of $18,125. Claims from a further 24 unsecured creditors have been received totalling $625,631."
One would presume that as the liquidators report was in May 2015 and there's little prospect of any money being recoverable that HNZ would have written this off as part of their specific bad debt's in FY15.
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09-09-2015, 02:06 PM
#6309
https://nzx.com/companies/HNZ/announcements/269858
Chris Mace (Director) buying on market 713k shares. not bad.
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09-09-2015, 02:14 PM
#6310
Not surprised... Heartland's trading at a huge discount, directors/management see this, amazing Mr Market doesn't (similar to ARV)...
What is surprising is that Aussie banks are all doing very well today and heartland's barely keeping in the green...
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