[UPDATED LEP rates] BNZ has removed its two-tied pricing structure for home loans, saying that it was confusing customers.
It introduced, in August, a new set of rates for its Fly Buys and Global Plus loans where the borrower had a deposit of 20% or less. These rates were priced 50 basis points above its standard rates.
BNZ director of retail, Andy Symons, says the second tier was increased after the Reserve Bank’s “speed bump” lending restrictions came into force in October.
It was introduced because of increasing costs around this sort of lending and the cost of capital...MORE»
Monday, March 10th, 6:00AM
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Thursday, March 6th, 6:00AM 3 comments
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