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Mortgages

Mortgage Rates Daily Commentary
Monday 25 May 2020  Add your comment
Kiwibank launches record low rate: compare the market

This week kicks off with a record low rate, as Kiwibank's previously announced 2.65% home loan comes into effect this morning. 

ASB's sharp 2.69% two-year loan was launched over the weekend. Expect more movement this week as rivals follow.

With so many changes, keep track of the latest rates and compare the market here.

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Auckland mortgage fraud under investigation

Large-scale mortgage fraud in Auckland is currently under investigation by the Serious Fraud Office (SFO).

Thursday, October 22nd 2015, 2:09PM 1 Comment

by Miriam Bell

In its just-released annual report, the SFO has warned that Auckland’s property market and the scale of impending commercial developments represent a key environmental risk.

The report states that the SFO has invested significant resources into investigating a large-scale mortgage fraud in Auckland.

The fraud involves highly organised teams of property developers, shell company directors, property valuers and lawyers.

An SFO spokesperson said that, as the investigation is still ongoing, the SFO is unable to comment any further at this time.

However, following the guilty verdict in a long-running mortgage fraud case earlier this year, SFO director Julie Read spoke out on mortgage fraud.

She said that vulnerable investors are often targeted by those who are aware of their inexperience in dealing with significant financial transactions.

“It is important wherever possible to obtain advice from reputable advisers and institutions.”

Serious financial crime in the lending environment will be discovered and prosecuted, Read said.

Tags: financial advisers Mortgage Advisers Mortgage Rates

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Comments from our readers

On 4 December 2015 at 4:16 am wayneisme said:
I know of an instance of a 1.642500 loan approved by the ANZ. To an Asian woman claiming to be a cleaner,(but in fact a prostitute) who has declare income to the IRD of 15k net a year ..
If this can happen there is indeed something very wrong with the approve and check process procedures in place..
This has been reported to both ANZ and the IRD

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 3.55 3.89 3.99
AIA Special - 3.05 3.39 3.69
ANZ 4.44 ▼3.29 ▼3.45 ▼3.85
ANZ Special - ▼2.79 ▼2.95 ▼3.35
ASB Bank 4.45 ▼3.35 ▼3.19 ▼3.85
ASB Bank Special - ▼2.85 ▼2.69 ▼3.35
Bluestone 4.44 4.44 4.29 4.34
BNZ - Classic - ▼2.79 2.99 ▼2.99
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.75 3.99 4.39
Lender Flt 1yr 2yr 3yr
BNZ - TotalMoney 4.55 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 2.80 3.15 3.19
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Lender Flt 1yr 2yr 3yr
Heretaunga Building Society 4.99 4.35 4.45 -
HSBC Premier 4.49 ▼2.80 ▼2.89 3.50
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC ▼4.40 ▼2.95 ▼2.95 ▲3.69
Kainga Ora 4.43 3.55 3.85 4.14
Kiwibank 4.40 3.74 4.14 4.40
Kiwibank - Capped - - - -
Kiwibank - Offset 4.40 - - -
Kiwibank Special - ▼2.65 ▼2.79 ▼3.25
Liberty 5.69 - - -
Lender Flt 1yr 2yr 3yr
Napier Building Society - - - -
Nelson Building Society 4.95 3.75 3.99 -
Pepper Essential 5.18 - 4.98 4.98
Resimac 3.49 3.45 3.39 3.69
RESIMAC Special - - - -
SBS Bank 4.54 4.85 5.05 5.49
SBS Bank Special - ▼2.99 ▼3.05 3.69
The Co-operative Bank - Owner Occ 4.40 3.09 3.35 3.69
The Co-operative Bank - Standard 4.40 3.59 3.85 4.19
TSB Bank 5.34 ▼3.59 ▼3.79 ▼4.19
TSB Special 4.54 ▼2.79 ▼2.99 ▼3.39
Lender Flt 1yr 2yr 3yr
Wairarapa Building Society 4.99 3.95 3.99 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - ▼2.79 ▼2.79 3.39
Median 4.55 3.50 3.79 3.69

Last updated: 25 May 2020 5:00am

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