TSB Bank has raised most of its home loan rates today, but at the same time it has launched an aggressive 2 year special.
The increases to its floating rate products are the full 25 bps, mirroring the OCR hike and recent rises by ANZ, ASB, and Kiwibank.
Their changes to fixed rates range from 20 to 30 bps.
The six month TSB fixed rate rises to 5.55%, up 20 bps from 5.35%.
The one year fixed rate rises to 5.70%, up 30 bps from 5.40%.
This removes the market leading rate for a one year fixed loan - now HSBC have that position.
Their three year fixed rate increases to 6.60%, up 20 bps from 6.40%.
A similar rise applies to their four and five year fixed rates, rising to 7.19% and 7.40% respectively, both up 20 bps.
There are no changes announced for their standard 18 month and two year fixed rates which remain at 5.85% and 5.99% respectively.
However, they have introduced a two year special offer of 5.80% for loans of $100,000 or more. Related enticements include $1,000 toward legal fees and $1,000 worth of Apple Entertainment components. The rate is higher for loans in excess of 80% of valuation.
TSB's new floating home loan rates compare with their main rivals today as follows:
| below 80% LVR | Floating | Revolving |
| Credit | ||
 |
6.24% | 6.35% |
 |
6.25% | 6.25% |
| BNZ - Total Money | 5.99% | 5.99% |
| BNZ - Standard & FlyBuys | 6.19% | 6.19% |
| Kiwibank | 6.15% | 6.15% |
 |
5.74% | 6.00% |
| Co-op Bank | 5.95% | 5.95% |
 |
6.24% | 6.24% |
| SBS / HBS | 5.90% | 5.90% |
| TSB | 6.29% | 6.29% |
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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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See all banks' carded, or advertised, home loan rates here.
TSB's latest fixed rates compare as follows:
| below 80% LVR | 1 yr | 18 mths | 2 yrs | 3 yrs | 5 yrs |
|
|
5.85% | 5.99% | 5.95% | 6.85% | 7.40% |
|
|
5.85% | 5.99% | 6.49% | 6.85% | 7.40% |
 |
5.85% | 5.99% | 5.95% | 6.29% | 7.40% |
| Kiwibank | 5.85% | 6.19% | 6.60% | 7.20% | |
|
|
5.85% | 5.99% | 5.95% | 6.85% | 7.40% |
| Co-op Bank | 5.65% | 5.85% | 5.99% | 6.35% | 7.10% |
|
|
5.59% | 5.79% | 6.55% | 7.20% | |
 |
5.60% | 5.85% | 5.99% | 6.35% | 6.99% |
| TSB | 5.70% | 5.85% | 5.80% | 6.60% | 7.40% |
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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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