Southern Cross Building Society, which has just merged with CBS Canterbury and Marac Finance in a drive to become a bank, has cut its floating mortgage rate to 6.25% from 6.95%.
This brings Southern Cross' mortgage rate into line with CBS Canterbury and that of the major banks, which are grouped around 6.1% to 6.2%.
The newly merged group, known as Building Society Holdings Ltd, is hoping to win a banking licence and recently was awarded an investment grade credit rating of BBB- by Standard and Poor's.
4 Comments
Come on fools...grab some cheap money and rush into property just as the collapse gets going...you can't lose...you know you wanna do it...rates never go up...prices never go down....!
Yawn...
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Yawn...
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