Kiwibank has ended its 4.99% "limited time only" mortgage rate specials for fixed terms of 6 months, one year, and two years.
These home loan specials were first announced on September 28, 2012, and were market leading at that time.
They came with <70% LVR requirement, but that was subsequently removed.
Most other banks have followed and offered fixed mortgage rates for these terms lower than Kiwibank.
The new Kiwibank rate for each of these terms is 5.25%.
ANZ, BNZ, and Westpac all now offer 6 month and one year 'special rates' of 4.95% with the condition that the LVR must be <80%.
The best bank two year fixed rate is currently offered by both ASB and Kiwibank at 5.25%.
You can find all mortgage rate offers from all institutions here »
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Mortgage choices involve making a significant financial decision so it often pays to get professional advice. A Roost mortgage broker can be contacted by following this link »
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2 Comments
This rise is only a rise on paper. I went in and gained load pre approval for a loan last week with the firm note from the bank manager that while the 4.99% was ending, they would ensure that we could have that rate come the time we made an offer on a house. Bank was falling over itself to lend, at levels that I thought were far from prudent.
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