Superbank about to roll out home loans
Wednesday 16 June 2004
Nearly 18 months after it launched its first product, Superbank is gearing up to offer home loans.
By The LandlordSuperbank is a joint venture between Australia’s St George Bank and Foodstuffs, which operates the Pak’ N Save, New World, Four Square and Write Price supermarkets.
While it uses the supermarkets to market its services and uses Westpac Bank’s branches as an agency, it is essentially a "virtual" bank, operating through telephone and the internet rather than a branch network.
James Munro, Superbank’s chief operating officer, won’t say exactly when Superbank’s mortgage product will be launched except that it will be "soon" and about the middle of this year – any day, in fact.
Superbank launched its first product, "Super Saver," in February last year. It offers term deposit standard interest rates, currently 6%, combined with no minimum investment, no fees, no fixed terms and instant access to your money without penalty.
Read More - Opens in a new window
Commenting is closed
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.