A third major bank has joined in with a mortgage 'special' below 4%. Now Westpac has matched ANZ with a 3.95% rate for one year fixed.
Westpac requires a minimum of 20% equity and a transactional account with salary. This rate is available for owner-occupied residential properties only.
This follows ANZ and BNZ.
And they followed SBS Bank with its own sub 4% rate.
And they all followed HSBC Premier which still has the lowest rate in the market at 3.85%.
Kiwibank earlier had a sub 4% rate, but that has since expired.
ASB is the only major yet to join in.
Here is the full snapshot of the fixed-term rates on offer from the key retail banks.
|below 80% LVR||6 mths||1 yr||18 mth||2 yrs||3 yrs||4 yrs||5 yrs|
|as at November 12, 2018||%||%||%||%||%||%||%|
In addition to the above table, BNZ has a fixed seven year rate of 5.95%.
And TSB still has a 10-year fixed rate of 6.20%.