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Last Article Uploaded: Thursday, March 30th, 10:31PM
Mortgage Rates Daily Commentary
Wednesday 29 March 2017  Add your comment
SBS raises floating rate

SBS Bank has raised its floating rate to 5.79%. This change is effective immediately for new loans and comes into effect for existing loans in a month's time.

LAST CALL: Mortgage advisers we are running a survey to gauge what the big issues are for you and your business at the moment. We would love it if you took a moment to complete the survey. By doing so you will get more info about what other advisers are thinking. Also it will help TMM deliver content to help you.

To complete the survey please click on this link.

 

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Nothing like a challenge for new entrant

One of Australia's niche mortgage bankers has crossed the Tasman to do battle in New Zealand.

Monday, October 8th 2001, 7:39AM

by Philip Macalister

The New Zealand home loan market maybe tough, but that's not stopping new competitors entering the fray.

The latest entrant to the market is Australian-based Challenger Mortgages (not to be confused with Challenger International, the fund management firm which offers a number of funds and portfolio endowment warrants).

New Zealander Rod Wilson heads up Challenger.

He says the firm is a mortgage banker like Resi Home Loans and Cairns Lockie, and it sources funding from Interstar.

He describes the Australian operation as being a niche provider that operates in the New South Wales market.

The firm is still finalising its strategy in New Zealand and has employed former broker Troy Kelleway as a business development manager.

He describes the New Zealand market as being a lot tougher than expected.

Wilson says one of the key features Challenger will offer is personal service.

Challenger's rates will be included in Good Returns' mortgage rates table and daily newsletter.

To sign up for the FREE daily newsletter of rates and news click here.

You can read Philip's blog here: http://www.goodreturns.co.nz/blog/

« Mortgage borrowing rises $357 million in AugustWrap mortgages attracting official attention »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.89 5.29 5.49
ANZ Special - 4.49 4.79 -
ASB Bank 5.80 4.99 5.19 5.49
ASB Bank Special - 4.59 4.79 5.09
BankDirect 5.80 4.99 5.19 5.49
BankDirect Special - 4.59 4.79 5.09
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.59 4.79 5.09
BNZ - Std, FlyBuys 5.90 4.99 5.19 5.49
BNZ - TotalMoney 5.90 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 5.95 4.99 5.25 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society ▲5.75 ▲5.00 ▲5.20 -
Housing NZ Corp 5.65 4.89 5.19 5.49
HSBC Premier 5.59 4.19 4.39 4.89
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.70 4.59 4.69 5.09
Kiwibank 5.55 4.99 5.19 5.65
Kiwibank - Capped - - - -
Kiwibank - Offset 5.55 - - -
Kiwibank Special - 4.59 4.79 5.25
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
NZ Home Loans 5.80 4.99 5.19 5.49
NZ Home Loans - Specials - - - -
Lender Flt 1yr 2yr 3yr
NZ Home Loans - Specials - 4.59 4.79 5.09
Resimac 5.30 4.86 4.94 5.30
SBS Bank ▲5.79 4.99 5.19 5.49
SBS Bank Special - 4.59 4.79 5.25
Sovereign 5.90 4.99 5.19 5.49
Sovereign Special - 4.59 4.79 5.09
The Co-operative Bank - Owner Occ 5.65 4.59 4.85 5.25
The Co-operative Bank - Standard 5.65 5.09 5.35 5.75
TSB Bank 5.65 4.80 5.15 5.45
TSB Special - 4.55 4.75 5.15
Wairarapa Building Society 5.70 4.85 4.99 -
Lender Flt 1yr 2yr 3yr
Westpac 5.75 4.99 5.19 5.49
Westpac - Capped rates - 5.15 5.25 -
Westpac - Offset 5.75 - - -
Westpac Special - 4.59 4.79 5.09
Median 5.79 4.88 5.17 5.38

Last updated: 30 March 2017 12:38pm

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