HOME LOAN FIX RATE CHANGE 10TH APRIL 2021
April 14, 2021 at 10:00 AM
Over the weekend SBS bank made some changes to their fixed rates with an increase to the 18,24,36,48 and 60 month rates.
Special Fix Rates Changes
18 Month Special Fix Rate - 2.39%
24 Month Special Fix Rate - 2.49%
36 Month Special Fix Rate - 2.79%
48 Month Special Fix Rate - 2.99%
60 Month Special Fix Rate - 3.19%
Check out how they compare to the other banks by clicking HERE
If you're interested! Out of the eight New Zealand Banks listed below, here is a list of who is offering the lowest advertised Special/Owner Occupied Home Loan Rates as of 1st February 2021, 11.30am
Floating @ 3.40% - Kiwibank
6 Months @ 2.29% - The Co-Operative Bank of NZ
12 Months @ 2.29% - ANZ Bank, ASB Bank, BNZ Bank, The Co-Operative Bank of NZ, SBS Bank, TSB Bank and Westpac NZ
18 Months @ 2.39% - SBS Bank
24 Months @ 2.49% - SBS Bank and TSB Bank
36 Months @ 2.65% - ASB Bank, Kiwibank and TSB Bank
48 Months @ 2.99% - ASB Bank, BNZ Bank, SBS Bank, TSB Bank and Westpac
60 Months @ 2.99% - ASB Bank, BNZ Bank, TSB Bank and Westpac NZ
CAN I ASK FOR A LOWER 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 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.