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Kiwibank cuts one year mortgage; landlords reforms announced

Kiwibank has cut its one-year fixed term to 3.39%, a new low, despite the OCR remaining on hold: [READ ON]. See our full rates table here.

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HSBC slashes rates and launches campaign

HSBC launched a home loan campaign today featuring the most competitive rates across the most common fixed terms currently available in the market.

Wednesday, April 7th 2010, 3:49PM

by Jenha White

HSBC head of personal financial services John Barclay says the competitive rates campaign is designed to increase awareness of HSBC as the home loan provider of choice for high net worth New Zealanders.

A customer can qualify for HSBC Premier if they have minimum combined home loans of $500,000.

The new home loan rates on offer include a six-month fixed term rate which has been cut by 50 basis points to 4.99%. This is the lowest of all currently published rates including variable rates in the market.

The lowest the HSBC six-month rate has previously been is 5.39% between June and October last year and the highest in Mortgagerates.co.nz records is 9.80% two years ago.

Its one and two-year rates have also been slashed by 50 basis points. The one year rate is now 5.49% which is a lot lower than the median for minor banks of 6.20% and the closest bank rates are National Bank, Westpac and Kiwibank on 6.15%. Its two-year rate is now 6.49% with TSB the closest bank on 7.09%.

The three-year rate has also been reduced by 40 basis points to 7.29% and the four-year rate has seen a substantial cut of 56 basis points to 7.69%. The median bank rates for these terms are 7.70% and 8.20% respectively.

Barclay says the new rates published today underline just how good HSBC's offering is, and also creates an opportunity to make prospective customers more aware of the highly personalised service HSBC provides.

"Key benefits of the offering include a dedicated relationship manager to assist customers with their banking needs, access to 300 HSBC Premier centres worldwide, and uniformity of service internationally," Barclay says.

"Our new home loan rates reinforce that we're serious about providing our customers with the best offer in the market."

To see how the rates compare with other lenders click here.

 

 

Jenha is a TPL staff reporter. jenha@tarawera.co.nz

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.05 3.95 4.49
ANZ Special - 3.55 3.45 3.99
ASB Bank 5.20 4.05 3.95 4.39
ASB Bank Special - 3.55 3.45 3.89
BNZ - Classic - 3.55 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 6.15 4.95 4.95 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
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 3.35 3.35 3.35
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 5.80 ▼4.14 ▲4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - ▼3.39 ▲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 - ▼3.55 3.39 3.89
Sovereign 5.30 4.15 4.29 4.55
Sovereign Special - 3.65 3.75 4.05
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 - 3.55 3.45 3.99
Median 5.34 4.04 4.09 4.39

Last updated: 15 November 2019 4:16pm

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