HOME LOAN FIX RATE CHANGES
November 05, 2021 at 10:52 AM
The Co-Operative Bank and Westpac have increased their home loan fix rates.
Special/ Owner Occupied Fix Rate Changes
The Co-Operative Bank NZ - effective 4/11/2021
6 Month Fix Rate from 3.24% to 3.34%
12 Month Fix Rate from 3.24% to 3.34%
18 Month Fix Rate from 3.54% to 3.69%
24 Month Fix Rate from 3.70% to 3.99%
36 Month Fix Rate from 3.99% to 4.24%
48 Month Fix Rate from 4.29% to 4.69%
60 Month Fix Rate from 4.49% to 4.85%
Westpac - effective 5/11/2021
6 Month Fix Rate from 3.89% to 3.99%
12 Month Fix Rate from 3.34% to 3.54%
18 Month Fix Rate from 3.69% to 3.89%
24 Month Fix Rate from 3.99% to 4.19%
36 Month Fix Rate from 4.19% to 4.49%
48 Month Fix Rate from 4.29% to 4.59%
60 Month Fix Rate from 4.49% to 4.75%
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 40% 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.