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BNZ joins the under-4s

BNZ has followed ANZ and is now offering a fixed home loan rate under 4%

Monday, November 12th 2018, 12:49PM

Tony Alexander, BNZ

It is offering a 3.99% for its two-year Classic rate.

“The new two-year fixed rate highlights BNZ’s commitment to help more New Zealanders realise their home ownership ambitions,” says BNZ General Manager, Retail Network Logan Munro.

In terms of the historic nature of the new rate, BNZ’s Chief Economist, Tony Alexander says “Sustained low inflation, the effectiveness of the Reserve Bank’s LVR rules and the recent cooling in the New Zealand housing market in spite of still strong economic growth have combined to provide a unique set of interest rate conditions that lenders can take advantage of.”

“The new low rate, fixed for two years, is a real bonus for both current and aspiring home owners who can have the confidence of locking in an interest rate not seen in BNZ’s proud history,” Munro says.

“The security and comfort the two-year fixed rate will provide borrowers is especially important for new home owners who’ll be able to plan their budgets knowing their mortgage rate won’t change for at least 24 months.

“The new rate comes at a good time for home owners and new buyers as the spring home buying season is getting into full swing,” says Mr Munro.

The new rate is available to residential owner occupiers with at least 20% equity, and is available until the end of November. “Anyone considering buying their first home or changing their home lending arrangements should get in touch, so we can discuss the best options for them,” says Mr Munro.

Tags: BNZ

« ANZ takes rates below 4%Harmoney reaches $1 billion in lending »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 ▲2.85 ▲3.25 3.55
ANZ 4.44 ▲3.20 ▲3.59 ▲4.00
ANZ Blueprint to Build 1.68 - - -
ANZ Special - ▲2.60 ▲2.99 ▲3.40
ASB Back My Build 1.79 - - -
ASB Bank 4.45 ▲2.85 ▲3.25 3.55
Basecorp Finance 5.49 - - -
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - 2.55 2.95 3.25
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 4.55 3.15 3.22 3.85
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 2.25 1.85 2.35 2.65
Heretaunga Building Society 4.99 3.80 3.90 -
Lender Flt 1yr 2yr 3yr
HSBC Premier 4.49 2.19 2.45 2.69
HSBC Premier LVR > 80% - - - -
HSBC Special - 2.25 - -
ICBC 3.69 2.35 2.75 3.05
Kainga Ora 4.43 2.88 3.28 3.59
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.75 ▲3.50 ▲3.74 ▲4.34
Kiwibank - Offset 3.75 - - -
Kiwibank Special 3.75 ▲2.65 ▲2.89 ▲3.49
Liberty 5.69 - - -
Nelson Building Society 4.95 2.99 3.24 -
Lender Flt 1yr 2yr 3yr
Pepper Essential 4.79 - - -
Resimac 3.39 2.98 2.79 3.29
SBS Bank 4.54 ▲2.99 ▲3.39 ▲3.59
SBS Bank Special - ▲2.49 ▲2.89 ▲3.09
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - 2.35 - -
The Co-operative Bank - Owner Occ 4.40 2.55 2.95 3.39
The Co-operative Bank - Standard 4.40 3.05 3.45 3.89
TSB Bank 5.34 3.35 ▲3.75 ▲4.05
TSB Special 4.54 2.55 ▲2.95 ▲3.25
Wairarapa Building Society 4.99 3.55 3.49 -
Lender Flt 1yr 2yr 3yr
Westpac 4.59 3.15 3.55 4.09
Westpac - Offset 4.59 - - -
Westpac Special - 2.55 2.95 3.49
Median 4.54 2.92 3.24 3.49

Last updated: 16 September 2021 9:00am

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