HOME LOAN FIX RATE CHANGE 22 JUNE 2020
June 22, 2020 at 8:09 PM
Today, Kiwibank made changes to their 6 month fix rates while on Friday 19th June, ASB Bank made some changes to some of their fix rates.
The most notable of these fix rate changes is ASB Bank 18 month Special Fix Rate at 2.65%, who have beaten The Co-Operative Bank New Zealand and BNZ 2.79% 18 month rate.
Special Fix Rates Changes
6 Month Fix Rate - 3.55%
12 Month Fix Rate - 2.69%
18 Month Fix Rate - 2.65%
36 Month Fix Rate - 2.99%
48 Month Fix Rate - 3.09%
60 Month Fix Rate - 3.19%
Check out how they compare to 7 other banks by clicking HERE
If you're interested! Out of the 8 New Zealand Banks listed below, here is a list of who is offering the lowest advertised Special/ Owner Occupied Home Loan Rates as of 11th June 2020, 5.24pm.
Floating @ 3.40% - Kiwibank
6 Months @ 2.79% - The Co-Operative Bank of New Zealand
12 Months @ 2.65% - ANZ New Zealand and Kiwibank
18 Months @ 2.65% - ASB Bank
24 Months @ 2.69% - BNZ, ASB Bank, TSB and Westpac New Zealand
36 Months @ 2.79% - Westpac New Zealand
48 Months @ 2.99% - BNZ and Westpac New Zealand
60 Months @ 2.99% - BNZ and Westpac New Zealand
Can I ask for a rate with my own bank, if they are not advertising the lowest rate?
Please remember that the rates listed above are advertised, so there could be an opportunity to negotiate. There are a number of factors that will be considered by your bank:
- How long have you been with your bank?
- The equity or LVR position you currently have. i.e >20% equity in your home and/or 30% against your investment properties.
- The likelihood you are in a position to refinance if the rate offered is not to your expectation? e.g If you have other loans fixed and they are not due to expire for a period of time. They may believe you are not likely to move to another bank and pay break/ solicitor costs.
- Last and but by no means least, do they have enough margin(profit) to negotiate and by how much.
It pays to check with your bank or contact us to see if we can get you the rate you want - we do not charge a fee to negotiate on your behalf!
We recommend that you check current rate details with us or the respective banks by clicking the links provided below as the rates above can change without notice.
- ANZ New Zealand
- ASB Bank
- BNZ
- The Co-Operative Bank NZ
- Kiwibank
- SBS Bank
- TSB
- Westpac NZ