The TVs may be smaller this time around but ASB is back offering people who take out home loans TVs with their mortgages.
The bank, which recently gave customers with pre-approved low equity home loans short notice to use them or lose them, is again offering TVs and cash to borrowers, but only those with at least a 20% deposit.
ASB says with new home loans worth more than $100,000 it'll throw in a 32-inch Sony Bravia LED TV, a Sony Sound Bar home theatre system, and up to $1,000 cash. The catch is borrowers must have a minimum of 20% equity, which means the offer's not available for loans with high loan-to-value ratios (LVRs).
The latest offer of TVs with loans comes after ASB earlier this year offered Sony Bravia 42-inch LED TVs and up to $1,000 cash on new lending over $100,000. And last year it offered Samsung Galaxy tablets and up to $1,000 cash to borrowers. Both the previous TV and tablet offers weren't restricted to borrowers with equity of at least 20%.
Since October 1 banks have been restricted to doing no more than 10% of the dollar value of their new housing lending flows at LVRs of over 80%. In late September ASB gave customers with pre-approved above 80% LVR mortgages short notice to draw them down or lose them by October 4 as it moves to comply with the Reserve Bank's new restrictions.
Back in March when ASB launched its previous TVs with mortgages offer, other banks were also throwing in extras with home loans. For example, TSB was offering up to $1,000 towards legal fees and an iPad or iPhone 5, and BNZ was offering $1,000 for fuel or groceries and up to $1,000 for legal fees.
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