HSBC offers lowest home loan rate in over 50 years
HSBC is offering an exceptional 3.95% ‘special’ interest rate for its first-ever 18 month fixed-term home loan in the New Zealand market.
Wednesday, February 17th 2016, 1:56PM
This is the lowest residential mortgage rate in over 50 years.
This special home loan rate is being offered to new HSBC Premier customers, and existing HSBC Premier customers who borrow at least an additional $100,000. To qualify, these customers must have at least 20% deposit or equity – 30% in the case of new residential investment lending on Auckland housing - and have their salary credited to a HSBC transaction account.
In addition, the bank has reduced the carded rates for its 6 months, two-year, three-year and four-year fixed-term home loans to 4.85%, 4.39%, 4.59% and 4.79%, respectively.
“In these uncertain times we are pleased to be able to provide our customers with certainty over the short-to-medium term by offering this 3.95% 18-month fixed mortgage, the lowest rate in over 50 years,” said Glen Tonks, Head of Retail Banking and Wealth Management at HSBC in New Zealand.
“HSBC has been consistently offering highly competitive and often market-leading home loan rates in New Zealand for a number of years now, and I would like to reassure people considering refinancing with HSBC down the track that we are committed to continuing to do so,” he added.
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