Kiwibank starts this year's home loan rate cuts

Kiwibank has started the year with a cut to its two-year fixed home loan rate.

Monday, January 12th 2015, 10:01AM 1 Comment

Kiwibank has cut its two-year fixed rate for better quality loans 20 basis points to 5.55%.

The rate is for loans where the borrower has at least a 20% deposit. 

In addition to the rate cut Kiwibank is offering a cash incentive of $2015 for all home lending of more than $100,000, and this incentive applies to all borrowers including those getting loans through the Government's Welcome Home Loan scheme.

The Kiwibank offer is one of the lowest in the market. To see how it compares check out our mortgage rate table where we have sorted it from lowest to highest on the two-year term.

Mid-January is traditionally a time when the home loan market becomes very active and competition increases between banks.


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Comments from our readers

On 12 January 2015 at 11:05 am Amused said:
Kiwibank isn't able to approve any new lending for borrowers with less than 20% deposit. Just phoned them a few minutes ago to confirm this is still the case following their announcement about this late last year – see Good Returns article dated 20th November. This inability to lend above 80% borrowing puts them completely at odds with the other banks currently.

Kiwibank now throwing $2,015 cash at under 80% applications and Welcome Home Loan deals for only $100,000 is exactly why they are in the position they are.

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