More sub 5% mortgage rates

BNZ launches 4.95% mortgage rates for fixed terms of 6 mths and 1 year, matches ANZ and the Public Trust

7th Nov 12, 9:24am by David Chaston

BNZ has added to its Classic home loan offer by launching a 4.95% rate for a six month and one year fixed mortgages.

These new rates match ANZ's specials that require an LVR or less than 80%.

The Public Trust also has 4.95% rates for these fixed terms.

BNZ's other Classic rate is for 2 years fixed, and is unchanged at 5.40%

Classic home loans require the LVR to be 80% or lower, and they may be subject to an early repayment charge if you pay off the loan earlier than the fixed rate term. Extablishment fees may apply to new BNZ customers and rollover/refix fees may also apply to existing BNZ customers.

The last time BNZ offered a Classic home loan rate for a one year fixed term was at the beginning of 2012. At that time the rate was 5.75%. That Classic rate offer ended on February 10, 2012.

You can find all mortgage rates offered by all financial institutions in New Zealand on this page here »

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Fixed mortgage rates

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Source: interest.co.nz

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3 Comments

by SK | 7th Nov 12, 9:53am 1352235187

Boring - where is 5.5% for 5 years?

by Stephen Hulme | 7th Nov 12, 11:12am 1352239958

The Public Trust also has 4.95% rates for these fixed terms.

Public Trust should be held to account for constant abuse of it's depositors to fund cheap mortgages - If Public Trust wishes to compete in the mortgage market maybe it should offer competitive deposit rates.

The derisory offerings despite the government guarantee provide no incentive for lending staff to offer debt financing to those that can pay and not put this institution at risk and in need of further crown capital injections.

Entrusting cheap money to aggressive lender' is a recipe for disaster without provision of a functioning strict credit analysis department.

Public Trust should not be competing agressively in the arena of mortgage origination - it is not the government's responsibilty to 'crowd out' the private sector with cheap government guaranteed funding.

by HAPPY RENTER | 7th Nov 12, 9:36pm 1352277391

They are going to have to do better than that! Unless the banks want to be the biggest landlords....

In the US you can get a 30 year fixed for 4%. Not that it's helping, much.