Kiwibank extends earthquake package
Kiwibank has announced an extended range of home loan packages for people affected by the earthquakes in Christchurch .
Friday, October 12th 2012, 10:13AM
It has also appointed a senior manager to oversee its commitment to Canterbury following the earthquakes. Tracey Berry, who lives in Christchurch and has extensive experience in the New Zealand banking industry has been appointed General Manager, Canterbury Growth.
Berry most recently headed up BNZ's wealth management operations and before that was at Kiwibank.
The home loan package for people affected by the earthquakes and eligible for the Government’s red zone assistance will now be open for applications through to the end of next year. It was originally launched in June last year and due to end in December. The offer is for mortgage lending at a 2% discount on its floating rate for a year from draw down. This means that the rate will be 3.65% based on the current variable rate.
The loan package is available for those who accept the offer from the Government and wish to purchase or build a property elsewhere. They will be required to contribute the Government’s payout towards the property purchase price.
Berry said Kiwibank also now has a special home loan offer for Christchurch customers who are building new homes. “The special rate is a 1% discount on the floating rate for one year from drawdown (making the rate 4.65%) plus we are offering 0.25% off all our standard fixed rates."
Kiwibank can also now offer new insurance policies through TOWER. This will be on a case by case basis for property owners in TC1, TC2 and rural/unmapped zones. To be eligible, customers will also need a contents or motor policy with TOWER.
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