HSBC has announced new market leading home loan rates for its Premier customers.
It's new rate is 5.75% and applies for fixed terms of one year, two years, and three years.
HSBC Premier rates apply to clients who meet a fairly exclusive criteria.
An individual can qualify to become an HSBC Premier customer either via a minimum combined home loan of $500,000, or $100,000 in savings and investments with HSBC.
The new one year rate matches ANZ's similar rate.
For two and three years, HSBC has the 5.75% rate position on their own.
The bank has also reduced its standard HSBC Premier three-year fixed home loan rate by 16 basis points to 6.39%.
To qualify for the new 'special' rates, you must have at least 20% equity.
No expiry date has been announced for this 'special' but it is stated as being for 'a limited time'.
HSBC does not offer a cash incentive, as many other banks do.
See all banks' carded, or advertised, home loan rates here.
The current incentive offers are here.
This is how the updated mortgage rates will compare as at 5:00 pm Tuesday, September 16, 2014:
| below 80% LVR | 1 yr | 18 mths | 2 yrs | 3 yrs | 5 yrs |
 |
5.75% | 6.25% | 5.99% | 6.49% | 7.15% |
 |
6.09% | 6.30% | 5.99% | 6.19% | 6.99% |
 |
5.99% | 6.25% | 5.99% | 6.19% | 6.99% |
| Kiwibank | 5.99% | 5.89% | 6.19% | 6.79% | |
 |
6.09% | 6.30% | 5.99% | 6.19% | 6.99% |
| Co-op Bank | 5.95% | 5.89% | 5.99% | 6.19% | 6.89% |
 |
5.75% | 5.75% | 5.75% | 6.99% | |
 |
5.85% | 5.99% | 5.99% | 5.89% | 6.79% |
 |
5.95% | 6.05% | 5.79% | 6.30% | 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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1 Comments
Can someone tell me how the OCR is supposed to work ? there has been two or three 0.25% jumps and yet interest rates are now LOWER than they were back in June ! or is it just as I predicted, we don't own any of the banks anymore so they just ignore the OCR, its just not relavent to them its about rates offshore.
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