HOME LOAN FIX RATE CHANGE 3 AUGUST 2020
August 03, 2020 at 9:33 AM
August is already upon us and BNZ Bank have reduced a couple of their fix rates.
Fix Rates Changes
BNZ Bank
18 Month Fix Rate - 2.65%
36 Month Fix Rate - 2.79%
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 3rd August 2020 9.30am.
Floating @ 3.40% - Kiwibank
6 Months @ 2.55% - The Co-Operative Bank of NZ
12 Months @ 2.55% - TSB Bank NZ BNZ , ASB, Kiwibank, ANZ NZ, The Co-Operative Bank of NZ and Westpac NZ
18 Months @ 2.65% - ASB Bank, BNZ and ANZ NZ
24 Months @ 2.69% - ANZ NZ, SBS Bank, BNZ, ASB Bank, TSB NZ Bank, The Co-Operative Bank of NZ and Westpac NZ
36 Months @ 2.79% - ASB, ANZ NZ, BNZ, Westpac NZ and Kiwibank
48 Months @ 2.99% - BNZ and Westpac NZ
60 Months @ 2.99% - BNZ 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.
- ANZ New Zealand
- ASB Bank
- BNZ
- The Co-Operative Bank NZ
- Kiwibank
- SBS Bank
- TSB
- Westpac NZ