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Kiwibank withdraws its 4.99% mortgage rate offers, raises them to 5.25%, as 'limited time' expires

Posted in News

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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3 Comments

Hello banker man Grant. your

Hello banker man Grant. your article is about Aus, and it also said they were expecting a rate cut in February :) Unfortunately NZ has not been following Aus with cuts for a long time...

This rise is only a rise on

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.