ASB has added a new Special one year fixed mortgage rate that has some specific conditions.
This new rate is 5.15%, 20 bps lower than their standard one year rate.
For that term, ASB now has the lowest rate of all their main rivals, although most of the smaller retail banks can trump them.
ASB 'specials' can be taken up by any existing ASB client under their present arrangements.
New clients however will need a minimum of 20% equity in the security property i.e. an LVR of 80% or less.
ASB's mortgage specials don't apply to interest groups who get a standard rate cut.
They also require borrowers to take out an ASB credit card, and to use their ASB transaction account for their salary, wages, business or rental income.
These changes also apply to BankDirect customers. It is likely this latest special will apply to Sovereign as well.
See all carded, or advertised, bank home loan rates here.
| 1 yr | 18 mths | 2 yrs | 3 yrs | 5 yrs | |
 |
5.19% | 5.75% | 5.95% | 6.50% | 7.10% |
 |
5.15% | 5.65% | 5.70% | 6.40% | 6.99% |
| BNZ | 5.39% | 5.39% | 5.95% | 6.29% | 7.10% |
| Kiwibank | 5.25% | 5.75% | 5.99% | 6.90% | |
 |
5.40% | 5.75% | 5.65% | 6.50% | 7.10% |
| Co-op Bank | 4.99% | 5.59% | 6.20% | ||
| HSBC Premier | 4.75% | 5.65% | 6.35% | 6.99% | |
| SBS / HBS | 4.95% | 5.45% | 5.99% | 6.55% | |
 |
5.40% | 5.65% | 5.85% | 6.45% | 7.00% |
In addition to the table, TSB has a 15 month 'special' rate of 5.15%.
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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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