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Mortgages

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ANZ predicts OCR hike in February; ASB to repay $9m over break-fee blunder; Westpac rate cuts

ANZ economists predict the official cash rate will begin to rise in February, after the New Zealand economy roared back into life in the first quarter: [READ ON]

ASB has been censured by the Commerce Commission after hitting home loan customers with over-expensive break-fees. It will pay affected customers nearly $9m: [READ ON]

Westpac has slashed its one year mortgages by 6 basis points this morning. Check out the latest rates here.

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SBS offers a home loan rate under 4%

Monday, November 23rd 2015, 6:06AM

SBS Bank is offering a special one-year fixed home loan rate of 3.99%. This offer, which is available for a limited time, coincides with SBS Bank’s brand refresh which positions the bank for the future while building on its 146-year history.

“As a mutual, our members are our owners. As a result, we are focused on giving back to them every day through a range of member benefits, such as market-leading lending interest rates. The brand refresh has also been undertaken with members in mind, particularly in terms of simplifying their interactions with the bank,” SBS chief executive Wayne Evans says.



Evans said the offer demonstrates another tangible benefit for SBS Bank members and notes that anyone, anywhere in New Zealand automatically becomes a member when they take out a mortgage with SBS Bank.

Key terms of the offer, available for a limited time and subject to standard terms and conditions, are:
·         3.99% fixed one-year home loan interest rate for new lending over $100,000.
·         For residential, owner-occupied properties only.
·         Minimum equity of 20%.

“The new special rate offered today is for a limited time and demonstrates SBS Bank’s commitment to continued lending growth in the residential sector, underpinned by our expanding reach across New Zealand. Through our branch network, our team of dedicated mobile mortgage managers, our customer contact centre and our digital presence, we are well placed to meet members’ needs nationally.

“The brand refresh is a key part of realising SBS Bank’s growth strategy, which is focused on playing to our strengths in residential lending and deposits and meeting customers’ day-to-day transactional banking needs,” Evans said.

As well as a new visual identity to provide better integration and brand consistency across SBS Bank, the brand refresh has included streamlining the product suite and enhanced systems and member services. All branches have undergone some redesign and other new features will be rolled out across SBS Bank’s network over time to continue to build the brand and meet customers’ needs.

Established in 1869, SBS Bank is believed to be the first building society in the world to have achieved bank registration while retaining its mutual structure. Mutual ownership means SBS Bank is uniquely positioned to provide benefits to its members. SBS Bank has 16 branches across the North and South Islands, together with mobile mortgage managers in Auckland and Christchurch and a full online banking service.

Tags: Mortgage Rates SBS

« More OCR cuts to comeThe Co-operative Bank looks long »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 ▼2.19 2.59 ▲2.99
ANZ 4.44 2.79 3.19 3.59
ANZ Special - 2.19 2.59 2.99
ASB Back My Build 1.79 - - -
ASB Bank 4.45 ▼2.19 2.59 ▲2.99
Basecorp Finance 5.49 - - -
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - ▼2.19 2.55 2.99
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 ▼2.79 3.15 3.59
Lender Flt 1yr 2yr 3yr
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.95 - - -
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 Bank - Online 1.95 1.85 2.35 2.45
Heretaunga Building Society 4.99 3.80 3.90 -
HSBC Premier 4.49 2.19 2.45 2.69
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - 2.25 - -
ICBC 3.69 2.25 2.35 2.65
Kainga Ora 4.43 2.67 2.97 3.13
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.04 3.40 3.84
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.19 2.55 2.99
Liberty 5.69 - - -
Nelson Building Society 4.95 3.20 3.24 -
Pepper Essential 4.79 - - -
Lender Flt 1yr 2yr 3yr
Resimac 3.39 2.98 2.79 3.29
SBS Bank 4.54 2.69 2.99 3.29
SBS Bank Special - 2.19 2.49 2.79
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - ▼1.99 - -
The Co-operative Bank - Owner Occ 4.40 ▼2.19 2.59 ▲2.99
The Co-operative Bank - Standard 4.40 ▼2.69 3.09 ▲3.49
TSB Bank 5.34 2.99 3.35 ▲3.79
TSB Special 4.54 2.19 2.55 ▲2.99
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 ▼2.79 3.19 3.59
Lender Flt 1yr 2yr 3yr
Westpac - Offset 4.59 - - -
Westpac Special - ▼2.19 2.59 2.99
Median 4.55 2.68 2.99 2.99

Last updated: 18 June 2021 9:03am

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