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ANZ takes action to on-year rate

ANZ has a new one-year fixed rate special of 5.75%. Of course customers need at least 20%.  It has increased its standard one-year rates 10 basis points and shaved 16 points from its three-year fixed rate.

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Warehouse looks to the mortgage market

The bargains everybody's supposed to get at The Warehouse may very soon extend to getting your mortgage from a red shed near you.

Tuesday, April 24th 2001, 9:26AM

by Jenny Ruth

The bargains everybody's supposed to get at The Warehouse may very soon extend to getting your mortgage from a red shed near you.

The discount retailer is "pretty much there" but still another couple of weeks away from reaching a final agreement with its partner over a package of financial services to be delivered from its stores, says chief executive Greg Muir.

A wide range of financial services are being considered including mortgages.

"Mortgages are certainly amongst the products we're considering. We're considering everything financial institutions cover," Muir says.

The Warehouse had said it would be finalising its banking plans about now, but the negotiations have been held up by key members of each team taking annual leave, he says.

Muir won't say who the retailer's partner is, but it is rumoured to be WestpacTrust. He has previously said the institution is a New Zealand-based bank. (A previously planned alliance with ANZ fell over).

Reaching agreement on the range and details of services to be offered is one thing. The actual launch isn't likely to be before the end of June at the earliest, he says.

Muir has previously said The Warehouse won't be competing head-to-head with Deputy Prime Minister Jim Anderton's plans to set up a "People's Bank" through New Zealand Post.

Instead, it will be an extension of the services The Warehouse already offers, including those provided to its 200,000 Warehouse cardholders.

« Housing market activity increasesFloating rates sink while fixed rates rise »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AMP Home Loans 7.24 5.99 6.39 6.65
AMP Home Loans $200k+ 7.14 5.89 6.29 6.55
AMP Home Loans LVR <80% - - 5.85 6.29
ANZ 6.74 ▲6.15 6.49 ▼6.49
ANZ LVR > 90 6.74 ▲6.65 6.99 ▼6.99
ANZ Special - 5.75 5.99 -
ASB Bank 6.75 6.09 6.40 6.65
ASB Bank Special - - 5.99 6.19
BankDirect 6.75 6.09 6.99 6.65
BankDirect Special - - 5.99 6.19
BNZ - Classic - - 5.99 ▼6.19
Lender Flt 1yr 2yr 3yr
BNZ - GlobalPlus 6.74 5.99 6.39 6.59
BNZ - Mortgage One 7.15 - - -
BNZ - Rapid Repay 6.74 - - -
BNZ - Std, FlyBuys 6.74 5.99 6.39 6.59
BNZ - TotalMoney 6.74 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 5.90 6.50 -
Credit Union North 6.45 - - -
Credit Union South 5.75 - - -
eMortgage 6.04 6.15 6.69 7.19
Finance Direct 6.10 6.45 6.69 7.10
Lender Flt 1yr 2yr 3yr
First Credit Union 6.45 - - -
General Finance 5.95 6.25 6.50 7.10
HBS Bank 6.15 5.85 5.99 6.25
HBS Special - - - 5.95
Heartland 6.45 6.75 7.00 7.60
Heretaunga Building Society ▲6.70 ▲6.00 6.50 -
Housing NZ Corp 6.74 5.99 6.19 6.60
HSBC Premier 6.84 5.95 5.95 6.55
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 6.75 5.99 6.39 -
Lender Flt 1yr 2yr 3yr
Kiwibank 6.65 5.99 6.39 6.65
Kiwibank - Capped 5.65 6.50 - -
Kiwibank - Offset 6.55 - - -
Kiwibank LVR > 80% - - 5.89 -
Liberty 5.64 - - -
Napier Building Society 5.80 6.00 6.70 -
Nelson Building Society 6.95 6.15 6.60 -
NZ Home Loans 6.85 6.09 6.40 6.65
Perpetual Trust 7.70 - - -
RESIMAC LVR < 80% 6.59 6.35 6.58 6.77
RESIMAC LVR < 85% - - - -
Lender Flt 1yr 2yr 3yr
RESIMAC LVR < 90% - - - -
RESIMAC LW DOC - - - -
SBS Bank 6.15 5.85 5.99 6.25
SBS Bank Special - - - 5.95
Silver Fern 5.95 6.10 6.55 7.05
Sovereign 6.85 6.09 6.40 6.65
Sovereign Special - - - 6.19
The Co-operative Bank 6.70 6.00 6.00 6.25
TSB Bank 6.74 6.00 6.19 6.60
TSB Special - - ▼5.79 -
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac 6.59 6.09 6.39 6.65
Westpac - Capped rates - 6.74 6.99 -
Westpac - Offset 6.59 - - -
Westpac Special - - 5.99 6.19
Median 6.70 6.00 6.39 6.59

Last updated: 2 September 2014 5:21pm

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