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Mortgage Rates Daily Commentary
Monday 1 September 2014  Add your comment
TSB picks on two-year rate

TSB has taken a market leading position in the two-year fixed rate market with a rate of 5.79%. In addition to this it is offering cash incentives and the chance to win a $20,000 house make-over. Of course terms and conditions apply.

To see how this rate compares we have sorted the table from lowest to highest two year rates here.

In the three-year space ASB and its associated lenders have a new 6.19% Special.

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Sovereign launches mortgage broker training programme

While debate about regulation in the mortgage broking industry is heating up, and lenders acting as regulators by saying they choose which brokers they deal with, Sovereign has launched a training programme designed to upskill mortgage brokers.

Tuesday, September 11th 2001, 10:28AM

The programme, called 'Lending and the Professional Adviser' focuses on facilitating advisers' understanding of lending principles and building their professional credibility.

Paul Bravo, Director of Sovereign Financial Services said the success of Sovereign in the home loans market was proof of the impact the mortgage broking industry has had in New Zealand.

'Sovereign only sells home loans through mortgage brokers and independent financial advisers. Our success is testament to the success of the mortgage broking industry. In less than five years Sovereign has a home loan portfolio approaching $2 billion and over 13,000 customers. This has only been achieved because people see mortgage brokers as a viable source for arranging home finance,' says Bravo.

'We are prepared to invest in the future of the industry and we have developed this training programme in collaboration with professional training company David Foreman Training. The aim of the programme is to further develop mortgage brokers as a credible source of financial advice, and help them to establish a long-term viable business.'

'We also believe Sovereign will gain from the programme because it will improve the skill of the brokers we deal with and it also gives us the opportunity to address some of the issues affecting our business.'

The programme is available to all Sovereign's current mortgage brokers and the cost of the training will be met by Sovereign.

Bravo did not believe the course conflicted with programmes run by the New Zealand Mortgage Brokers Association. 'Sovereign has always been strong in backing the NZMBA. We support their efforts for self-regulation of the industry.'

Rob Tucker, Chairman of the NZMBA, said that Sovereign is to be commended for this initiative which complements the NZMBA's education programme.

The programme has also been assessed by the Financial Planners and Investment Advisers Association, and attendees will receive FPIA education credits for attending.

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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 6.05 6.49 6.65
ANZ LVR > 90 6.74 6.55 6.99 7.15
ANZ Special - - 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 6.03 6.39 6.60

Last updated: 1 September 2014 9:03am

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