ASB does exclusive deal with TradeMe
ASB Bank has done a deal for exclusive rights as mortgage lender of choice on the home sale part of the Trade Me website.
Thursday, October 6th 2005, 7:13AM
by Janine Ogier
"Quite a number" of applications were going through the approval process, ASB’s head of retail banking and marketing Ross McEwen said.
ASB’s lending products are advertised alongside each house on the website, McEwen said.
"Both companies are very innovative and driven by technology and I think that worked very well," he said.
"But there was also quite a good fit between Trade Me and ourselves in terms of having a go at something different and not being frightened to try something new," he said.
A special three-year rate of 7.5% is available to Trade Me customers, which compares favourable with ASB’s conventional three-year rate of 7.7%.
The special rate applies to loans organised through ASB’s home loan phone team or on the internet, not through its mobile mortgage managers, the broker network or ASB branches.
It also attracts a $100 Trade Me top-up for online applications and the loans need to be for more than $100,000.
The rate is being reviewed weekly and was initially aimed at being a one-month introductory offer, with an October 9 cut-off date for loans drawn down by December 31.
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