The Co-operative Bank have announced a 3 year Special mortgage rate of 5.49% effective this morning.
This rate is available to borrowers with at least 25% equity "in the property provided as security".
Their standard 3 year fixed rate is unchanged at 5.75% as are all their other rates.
This positions the Co-op Bank rates among the New Zealand banks as follows:
| 1 yr | 2 yrs | 3 yrs | 4 yrs | 5 yrs | |
| ANZ | 5.19% | 5.45% | 5.80% | 6.10% | 6.30% |
| ASB | 5.45% | 5.45% | 5.75% | 5.95% | 6.25% |
| BNZ | 5.25% | 5.40% | 5.80% | 6.10% | 6.30% |
| Kiwibank | 5.25% | 5.25% | 5.65% | 5.99% | 5.99% |
| Westpac | 5.19% | 5.40% | 5.90% | 6.15% | 6.25% |
| Co-op Bank | 5.25% | 5.35% | 5.49% | 5.99% | |
| HSBC Premier | 4.99% | 4.99% | 4.99% | 5.50% | 5.75% |
| SBS / HBS | 5.25% | 5.30% | 5.65% | 5.99% | |
| TSB Bank | 5.25% | 5.30% | 5.75% | 6.10% | 6.30% |
Kiwibank has one lower rate; it has a six month fixed rate of 4.79%.
TSB Bank also has a lower rate; it has a Special 15 month offer of 4.95%.
All the latest mortgage rate offers for all institutions are here »
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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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