Kiwibank offers four-year mortgage special
(17 January 2012 – New Zealand) In a move that significantly undercuts competing New Zealand banks, Kiwibank cut its four-year home loan rate from 6.79 percent to 5.99 percent per year.
Kiwibank communications manager Bruce Thompson said the bank traditionally likes to kick-start the year with a market-leading rate.
'Over the past couple of years, the competition has been for shorter term lending, but Kiwibank is now offering home owners the opportunity to lock-in a very low rate for a longer period.
'There is considerable uncertainty about interest rates and about the world economies, so this four-year offer gives customers certainty,' Thompson said.
The four-year special requires a minimum 30 percent deposit (equity) and is available for a limited time.
'Over the past couple of years, the competition has been for shorter term lending, but Kiwibank is now offering home owners the opportunity to lock-in a very low rate for a longer period.
'There is considerable uncertainty about interest rates and about the world economies, so this four-year offer gives customers certainty,' Thompson said.
The four-year special requires a minimum 30 percent deposit (equity) and is available for a limited time.
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