HSBC has announced it is offering a clean sweep of the lowest fixed home loan rates available from a bank in New Zealand.
HSBC's two year rate has been reduced by 25 basis points from 6.74% to 6.49%, the three year rate dropping by 10 basis points from 7.09% to 6.99% and the five year rate by six basis points from 7.65% to 7.59%.
Further to that, the six month rate increases by 50 basis points from 4.99% to 5.49%. The next lowest six month rate offered by a bank in the market is 6.25%.
To be eligible to take up the HSBC home loan offer, customers need to qualify for HSBC Premier, with minimum combined home loans of $500,000, or $100,000 in savings and investments.
Wairarapa Building Society has increased its one-year rate by 25 basis points to 6.70%.
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