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Lending predictions for 2021; Nelson Building Society cuts rates

Interest rates will remain low by historic standards for the next two years, and banks will become more receptive to new customers this year, predicts economist Tony Alexander: [READ ON]

Nelson Building Society has slashed one and two year rates by 25 basis points this morning. Check out our list of the latest rates here.

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ASB records bumper lending in first quarter

ASB reported strong lending in the three months to March this year, and the bulk of that has come from borrowers with more than 20% equity in their loans.

Thursday, May 28th 2015, 12:37PM

Its loan book grew by a significant $746 million (1.76%) in the March 2015 quarter, by far the best result since LVR restrictions were introduced.

From the September 2012 quarter through 2013 quarter ASB was dramatically increasing its high LVR lending. The highest increase was in December 2012 when the loan book increased $932 million with $882 million of that increase in the high LVR range.

High LVR loans went from just 19% of the total book in June 2012 to 23% of the book in September 13. At the end of March this year these loans have dropped right back to just 18% of the book.

Prior to the high growth between September 2012 and September 13 the loan book had actually shrunk by $19 million in the year to June 12. Then during the high LVR lending spree year to September 13 the book grew by over $3 billion.

Growth slowed after September 13 but it was all in low LVR lending with high LVR loans dropping steadily. Quarterly growth slumped as low as $233 million (0.55%) in the December 14 quarter so March 15 has seen a massive turnaround more than trebling the previous quarter growth.ASB Loan Book by LVR

    $Billion   $Billion   
  31/03/2014 31/12/2014 31/03/2015 Annual Change Quarter Change
0-59% 11.294 11.321 11.635 0.341 0.314
60-69% 7.571 7.801 7.972 0.401 0.171
70-79% 13.535 15.033 15.562 2.027 0.529
  32.400 34.155 35.169 2.769 1.014
80-89% 6.029 5.472 5.322 -0.707 -0.150
90%+ 3.098 2.720 2.602 -0.496 -0.118
  9.127 8.192 7.924 -1.203 -0.268
  41.527 42.347 43.093 1.566 0.746

 

Tags: ASB

« Chinese banks creeping into lending marketNew LVR rules to cut Auckland house price inflation »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 2.55 2.69 2.79
ANZ 4.44 3.09 3.25 3.39
ANZ Special - 2.49 2.69 2.79
ASB Bank 4.45 2.49 2.59 2.65
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - 2.49 2.69 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.09 3.29 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
Lender Flt 1yr 2yr 3yr
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online 2.50 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.50 3.40 -
HSBC Premier 4.49 2.25 2.35 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 3.69 2.45 2.45 2.65
Kainga Ora 4.43 2.93 3.07 3.24
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.30 3.50 3.50
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.55 2.65 2.65
Liberty 5.69 - - -
Nelson Building Society 4.95 ▼3.20 ▼3.24 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
Lender Flt 1yr 2yr 3yr
SBS Bank 4.54 2.99 3.09 3.15
SBS Bank Special - 2.49 2.59 2.65
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - - - -
The Co-operative Bank - Owner Occ 4.40 2.49 2.69 2.79
The Co-operative Bank - Standard 4.40 2.99 3.19 3.29
TSB Bank 5.34 3.29 3.29 3.59
TSB Special 4.54 2.49 2.49 2.79
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.09 3.29 3.39
Westpac - Offset 4.59 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - ▼2.29 2.69 2.79
Median 4.54 2.95 2.99 2.97

Last updated: 14 January 2021 11:22am

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