SBS raises all its mortgage rates but manages to hold on to its market leading position for most of them

SBS raises all its mortgage rates but manages to hold on to its market leading position for most of them

The market leading rates from SBS and HBS are rising today.

Even after these rises, SBS holds on to its market leading position for fixed rates of 18 months and longer, although it gives up that position for a one year term to HSBC (who has not yet adjusted its rates).

SBS has increased its floating rate by the full 25 bps to 5.90%. A similar change has been made for their "Transactional Flexi" revolving credit rate.

All their fixed rates have risen today as well, reflecting recent increases in wholesale money costs.

Fixed six months has been raised by 10 bps to 5.30%.

One year fixed is up 15 bps to 5.50%.

Two and three year fixed rates have been raised by 10 bps each to 5.90% and 6.20% respectively.

Five year fixed is up 15 bps to 6.85%.

All these fixed rates are for loans where the LVR is less than 80%. For loans greater than that, another 0.50% applies to each rate.

SBS has not increased their Advance Equity Release (reverse mortgage) rates at this time.

SBS has made no changes to their savings or term deposit rates.

SBS's new floating rates compare with other banks as follows:

below 80% LVR Floating Revolving
5.99% 6.10%
ASB 6.00% 6.00%
 - Total Money 5.99% 6.19%
 - Standard & FlyBuys 6.19% 6.19%
Kiwibank 5.90% 5.90%
Westpac 5.64% 5.75%
Co-op Bank 5.95% 5.95%
HSBC 6.24% 6.24%
SBS / HBS 5.90% 5.90%
TSB 6.04% 6.04%

See all carded, or advertised, bank home loan rates here.

below 80% LVR 1 yr 18 mths 2 yrs 3 yrs 5 yrs
5.69% 5.85% 6.29% 6.65% 7.20%
ASB 5.69% 5.85% 6.29% 6.60% 7.20%
5.69% 5.85% 5.95% 6.29% 7.20%
Kiwibank 5.49%   5.99% 6.40% 6.90%
Westpac 5.49% 5.85% 5.95% 6.35% 7.20%
Co-op Bank 5.49% 5.85% 5.99% 6.35% 7.10%
HSBC 5.59%   5.79% 6.55% 7.20%
SBS / HBS 5.50% 5.75% 5.90% 6.20% 6.85%
TSB 5.40% 5.85% 5.99% 6.40% 7.20%

(table updated with HSBC 2yr rate reduction late today.)


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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