Mortgages

HSBC keeps the heat on BNZ

HSBC is continuing its aggressive counter to Bank of New Zealand’s anti-mortgage broker campaign, although it doesn’t want to say explicitly that this is its intention.

Monday, May 03rd 2004

The bank’s latest move its to lower its three-year fixed homeloan rate to 6.88%, just below BNZ’s rate of 6.89%.

Among the other major home lenders, ANZ Bank and National Bank are offering 7.15% three-year fixed rates, Westpac Bank is offering 7.29% and ASB Bank is offering 7.30%.

Kiwibank has joined the action dropping its three-year fixed rate to 6.99%.

HSBC’s new three-year rate comes on top of its previous matching of BNZ’s two-year rate of $6.69%, with the additional benefit of up to $1,000 towards legal expenses, depending on the size of the loan.

The bank says it is withdrawing this offer from the close of business on Monday, May 3 because demand has been such that its available funding is fully booked.

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Unity First Home Buyer special 3.99
SBS FirstHome Combo 3.99
ICBC 4.25
TSB Special 4.39
Co-operative Bank - First Home Special 4.39
ANZ Special 4.49
SBS Bank Special 4.49
Unity Special 4.49
Westpac Special 4.49
Kiwibank Special 4.49
Co-operative Bank - Owner Occ 4.49
Kainga Ora 4.49
ICBC 4.59
Nelson Building Society 4.67
Unity Special 4.69
ANZ Special 4.69
BNZ - Std 4.69
Wairarapa Building Society 4.79
Westpac Special 4.89
SBS Bank Special 4.89
Kiwibank Special 4.89
Co-operative Bank - Owner Occ 4.89
ICBC 4.99
Kainga Ora 5.15
Westpac Special 5.29
ASB Bank 5.69
TSB Special 5.69
BNZ - Std 5.69
SBS Bank Special 5.69
Co-operative Bank - Owner Occ 5.69
AIA - Go Home Loans 5.69
Kiwibank Special 5.79
Westpac 5.89
SBS FirstHome Combo 3.29
AIA - Back My Build 3.34
SBS Construction lending for FHB 3.74
CFML 321 Loans 3.95
Co-operative Bank - Owner Occ 4.99
Co-operative Bank - Standard 4.99
Heartland Bank - Online 5.30
ICBC 5.39
Kiwibank - Offset 5.65
Kiwibank 5.65
Kainga Ora 5.69

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