ASB has launched a new two year fixed home loan 'special'.
At the same time it has withdrawn its 1 year 'special'.
The new two year 'special' is priced at 5.99%, the lowest for this term among its main rivals.
However, both HSBC and TSB Bank both have a lower rate for this term.
Going the other way, the withdrawal of their one year 'special' reverts the ASB rate for that term to 6.09% which is now the highest for one year among all banks.
No other ASB mortgage rates have been changed.
ASB’s lending criteria and terms and conditions apply. An establishment fee may apply. A minimum 20% deposit or an LVR of 80% or less in the security property applies. You must have your main transaction account with ASB, with your salary, wages, business income or rents credited and an ASB credit card. Early repayment adjustments apply. This special does not apply to loans for business purposes, bridging loans, Homeplus or other ASB discounts or packages.
The same changes have been made to BankDirect home loans.
At this time, we have not heard of matching changes by Sovereign, who often make identical moves.
See all banks' carded, or advertised, home loan rates here.
This is how the updated ASB mortgage rates compare as at 5:00 pm Friday, August 1, 2014:
| below 80% LVR | 1 yr | 18 mths | 2 yrs | 3 yrs | 5 yrs |
 |
6.05% | 6.25% | 6.09% | 6.65% | 7.15% |
 |
6.09% | 6.30% | 5.99% | 6.65% | 6.99% |
 |
5.99% | 6.25% | 6.39% | 6.25% | 6.99% |
| Kiwibank | 5.99% | 6.29% | 6.29% | 6.95% | |
 |
5.95% | 6.30% | 6.09% | 6.65% | 6.99% |
| Co-op Bank | 6.00% | 6.00% | 6.00% | 6.25% | 6.89% |
 |
5.85% | 5.85% | 5.85% | 6.99% | |
 |
5.85% | 5.99% | 6.20% | 5.95% | 6.79% |
 |
6.00% | 6.05% | 5.80% | 6.60% | 7.00% |
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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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