TSB Bank has withdrawn its special lending rate of 5.15% p.a. for 15 months effective immediately.
This was a unique offer while it lasted, the only fixed 15 month rate in the market. TSB reverts to its standard 12 month and 18 month rates which are 5.40% and 5.65% respectively.
Over the past week, swap rates have stopped falling after peaking in mid- September.
These wholesale changes have resulted in varying responses by banks, and up to 20 bps differences have opened by between the major institutions, more when the second tier banks are included.
Banks are coming to grips with the RBNZ 'speed limit' LVR rules and modifying their offers to accommodate the changes.
Borrowers face significantly different offers depending on whether they have more or less than 20% equity in their property. It is now important to check the basis of any rate when making a comparison. Our full table shows those conditions.
See all carded, or advertised, bank home loan rates here.
| 1 yr | 18 mths | 2 yrs | 3 yrs | 5 yrs | |
 |
5.19% | 5.75% | 5.95% | 6.50% | 7.10% |
 |
5.15% | 5.65% | 5.70% | 6.40% | 6.99% |
| BNZ | 5.39% | 5.39% | 5.95% | 6.29% | 7.10% |
| Kiwibank | 5.25% | 5.75% | 5.99% | 6.90% | |
 |
5.40% | 5.75% | 5.65% | 6.50% | 7.10% |
| Co-op Bank | 4.99% | 5.59% | 6.20% | ||
| HSBC Premier | 4.75% | 5.65% | 6.35% | 6.99% | |
| SBS / HBS | 4.95% | 5.45% | 5.45% | 5.99% | 6.55% |
 |
5.40% | 5.65% | 5.85% | 6.45% | 7.00% |
--------------------------------------------------------------
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 »
--------------------------------------------------------------
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.