About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Sunday, April 19th, 7:47PM
Mortgage Rates Daily Commentary
Thursday 16 April 2015  Add your comment
New special and carded cuts from Westpac

Westpac has added a new 18-month special rate of 5.34%. Meanwhile it has made a number of cuts, all or around 10 basis points, to a number of fixed rates. Its five-year special and card rates, along with the 18 month and four year rates are down 10 points and the six-month rate is down nine points.

rss
Latest Headlines

NZMBA complains about BNZ campaign

The New Zealand Mortgage Brokers’ Association has complained to the Commerce Commission about the Bank of New Zealand’s anti-broker campaign.

Thursday, September 30th 2004, 6:06AM

by Jenny Ruth

"The grounds were we believe the advertising is misleading in as much as that it implies that they offer a rate because they don’t use brokers," says NZMBA chairman Geoff Bawden.

"It implies it’s a better rate or a better deal than what might be obtained by a broker which we believe is misleading," Bawden says.

In April, BNZ started its high profile campaign using the logo: "We’ve cut out brokers to give you a great home loan deal."

Most banks pay upfront commissions between 0.6% and 0.8% of the total loan amount and many pay on-going trailer commissions on top of that. Other sales channels also have their costs such as branch networks and staff salaries.

"I think it’s quite a dangerous exercise to chose one fixed rate (BNZ was aggressively promoting a two-year fixed rate) in the market and to say you can offer a better rate because you’ve cut out brokers," Bawden says.

All sorts of other factors, other than the interest rate charged, come into play to decide what the best deal available is, he says.

BNZ’s two-year rate hasn’t always been the lowest two-year rate available in New Zealand and the other banks are known to have matched its rate.

« New boss aims high for PioneerSelect your own rate home loan »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 6.74 5.99 5.99 6.29
ANZ Special - 5.49 5.39 5.79
ASB Bank 6.75 5.99 5.99 ▲6.39
ASB Bank Special - 5.59 5.39 ▲5.59
BankDirect 6.75 5.99 6.09 ▲6.39
BankDirect Special - 5.59 5.39 ▲5.59
BNZ - Mortgage One 7.15 - - -
BNZ - Rapid Repay 6.74 - - -
BNZ - Special - - 5.15 -
BNZ - Std, FlyBuys 6.74 5.49 5.39 5.55
BNZ - TotalMoney 6.74 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 5.95 5.99 -
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
First Credit Union 6.45 - - -
General Finance 5.95 6.25 6.50 7.10
HBS Bank 6.65 5.69 5.39 5.69
HBS Special - 5.59 5.19 5.49
Heartland 6.70 7.00 7.25 7.85
Lender Flt 1yr 2yr 3yr
Heretaunga Building Society 6.70 5.70 5.40 -
Housing NZ Corp 6.74 5.70 5.99 6.29
HSBC Premier 6.84 5.65 5.65 5.65
HSBC Premier LVR > 80% - - - -
HSBC Special - 5.29 5.29 5.29
ICBC 6.75 5.99 6.39 -
Kiwibank 6.65 5.69 6.09 6.29
Kiwibank - Capped - - - -
Kiwibank - Offset 6.55 - - -
Kiwibank Special - - 5.39 5.55
Liberty - - - -
Lender Flt 1yr 2yr 3yr
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 6.29
Perpetual Trust 7.70 - - -
Resimac 6.59 ▼5.88 ▼5.86 ▼5.90
SBS Bank 6.65 5.69 5.39 5.69
SBS Bank Special - 5.59 5.19 5.49
Silver Fern 5.95 6.10 6.55 7.05
Sovereign 6.85 5.99 6.09 6.29
Sovereign Special - 5.59 5.39 5.45
The Co-operative Bank 6.70 5.59 5.39 5.59
Lender Flt 1yr 2yr 3yr
TSB Bank 6.74 5.70 5.70 6.00
TSB Special - - 5.35 5.60
Wairarapa Building Society 6.20 5.75 5.95 -
Westpac 6.59 5.99 5.99 5.99
Westpac - Capped rates - 6.74 6.99 -
Westpac - Offset 6.59 - - -
Westpac Special - - 5.39 5.89
Median 6.70 5.81 5.91 5.89

Last updated: 16 April 2015 9:09pm

Previous News
News Bites
Compare Mortgage Rates
Compare
from
to
for
To graph multiple lenders, hold down Ctrl key while clicking in list box
Find a Mortgage Broker

Add your company

Use map
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by PHP Developer and eyelovedesign.com