Westpac has announced a one year mortgage Special rate of 5.09%.
It is effective Tuesday, April 30, 2013.
It only applies for loans with an LVR of 80% or less.
The new rate makes it the most competitive for a one year term among the big four Aussie-owned banks, but still above almost all other locally-owned banks.
Westpac's one year standard fixed rate remains 5.19% so this Special grants a discount of 10 bps when the LVR limit can be achieved.
No other Westpac rates have changed.
No other special conditions have been advised for any of their mortgage rate offers.
These latest reductions follow changes made late last the week by SBS/HBS.
See all banks' advertised home loan rates here.
This positions the Westpac's rates among the New Zealand banks as follows:
| 1 yr | 2 yrs | 3 yrs | 4 yrs | 5 yrs | |
 |
5.19% | 5.45% | 5.80% | 6.10% | 6.30% |
 |
5.19% | 5.45% | 5.75% | 5.95% | 6.25% |
| BNZ | 5.25% | 5.40% | 5.80% | 6.10% | 6.30% |
| Kiwibank | 4.99% | 5.25% | 5.65% | 5.99% | 5.99% |
 |
5.09% | 5.40% | 5.90% | 6.15% | 6.25% |
| Co-op Bank | 4.99% | 5.35% | 5.75% | 5.99% | |
| HSBC Premier | 4.99% | 4.99% | 4.99% | 5.50% | 5.75% |
| SBS / HBS | 4.99% | 4.99% | 5.65% | 5.99% | |
 |
5.25% | 5.30% | 5.75% | 6.10% | 6.30% |
TSB Bank still has a lower rate Special 15 month offer of 4.95%.
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