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Reserve Bank demands improvements from ANZ; Record house prices

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ASB continues its grip on home loan market

ASB Bank continued to be the major winner in the mortgage market in the June quarter, grabbing 35.9% of the $3.26 billion in net new mortgages written in the quarter.

Tuesday, October 12th 2004, 9:05PM

by Jenny Ruth

It’s latest disclosure document shows it had $20.9 billion in loans secured by residential mortgages at June 30, up from $19.77 billion three months earlier.

Using Reserve Bank figures on the size of the mortgage market, that gives ASB 22.6% of the market compared with 22.1% at the end of March.

ANZ Bank and National Bank continued to grow their combined mortgage books (they no longer provide figures for each bank) by $662 million to $33.02 billion, not as fast as the overall market. Their market share slipped from 36.2% at the end of March to 35.6% at the end of June.

v The only bank which didn’t grow its mortgage book in the June quarter was HSBC – its book fell marginally to $2.87 billion and its market share slipped from 3.2% to 3.1%.

HSBC’s mortgage has shrunk each quarter since it bought AMP’s mortgage book from March 31, 2003 but the latest figures suggest its position is stabilising.

Bank of New Zealand anti-mortgage broker campaign doesn’t appear to be hurting its market position any. Its mortgage book grew $676 million to $14.83 billion at the end of June, boosting its market share from 15.8% at the end of March to 16%.

Westpac’s market share remained rock steady at 20.5% (its mortgage book growing from $17.49 billion to $18.16 billion in the quarter) as did TSB Bank’s at 1.3% (its mortgage book growing from $1.19 billion to $1.23 billion in the quarter).

Kiwibank’s mortgage book continues to grow faster than the market, its market share edging up from 0.99% at the end of March to 1.1% at the end of June. But to put that in context, its entire $1.02 billion mortgage book is less than the $1.17 billion ASB added to its book in the quarter.

The Reserve Bank figures show the overall market grew 3.6% in the June quarter and by 16.5%, or $13.1 billion, in the year ended June.

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.05 4.05 4.49
ANZ Special - 3.55 3.55 3.99
ASB Bank 5.20 3.89 4.05 4.39
ASB Bank Special - 3.39 3.55 3.89
BNZ - Classic - 3.49 3.45 3.99
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
HSBC Premier 5.24 3.54 3.54 3.69
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 4.04 3.95 4.39
Kiwibank ▼5.20 ▲4.20 4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - ▲3.45 3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
Lender Flt 1yr 2yr 3yr
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.86 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.39 3.45 3.89
Sovereign 5.30 ▼3.89 ▼4.05 ▼4.39
Sovereign Special - ▼3.39 ▼3.55 ▼3.89
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
TSB Bank 6.09 4.35 4.25 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.55 3.45 3.89
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.39 3.45 3.99
Median 5.34 3.99 4.07 4.39

Last updated: 9 December 2019 9:02am

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