Kiwibank has introduced a new 18-month special mortgage rate of 5.19% for people with 30% equity in their homes.
Mortgage holders with less than 30% equity would pay 5.40% for an 18-month mortgage, Kiwibank said.
That 5.40% rate would still be competitive as the next lowest advertised 18-month rate offered by a bank is 5.39% by ANZ and National banks.
The new special replaces Kiwibank's six-month 4.99% special. The six-month rate has reverted to 5.25%.
This is Kiwibank's first 18 month offer since November 2010.
See and compare all advertised mortgage rates here.
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