Banks offer loan relief for quake victims
The country's major banks have announced a number of assistance package measures for home loan customers affected by yesterday’s Christchurch earthquake.
Wednesday, February 23rd 2011, 3:40PM 
2 Comments
ASB is offering home loan customers the opportunity to suspend home loan payments for up to three months – though interest will still be added to the loan.
The bank has also scrapped early repayment fees when repaying a fixed rate loan on a home that has been destroyed or suffered major damage. Also, no establishment or adjustment fees will be charged for those looking to establish or restructure a home loan as a result of the quake.
Three month loan repayment suspensions are also on offer from Kiwibank and ANZ, while BNZ is offering to suspend loan repayments for 180 days.
Westpac has also announced it will offer customers a loan repayment holiday, though no time scale has yet been outlined for the break.
| « BNZ's mortgage book, profitability grew strongly in Dec qtr | TSB grows home loan market share » |
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Comments from our readers
On 24 February 2011 at 11:11 am Glen said:
very poor from ASB as they provide 3 months loan holiday to all their existing clients any way ..not that i bank with BNZ but that seems a much better offer to our sister city! On 25 February 2011 at 7:02 pm Melinda said:
Does anyone know if Sovereign is offering any relief.... I have had to leave my house along with my flatmate and my daughter!! Commenting is closed
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