SuperBank primed for mortgage attack

Monday 19 July 2004

A young bank promoted in Kiwi supermarkets challenges its larger rivals by discounting interest rates. Rob Stock reports.

By The Landlord

It's not every day a new bank enters the mortgage market in New Zealand intent on making life uncomfortable for the big four high-street banks.

But today, SuperBank unveils its new mortgage business and its offering has a new twist designed to win market share from ASB, ANZ National Bank, Westpac and BNZ.

It will aim to mine a deep vein of Kiwi discontent with the main bank lenders.

SuperBank is launching a home-loan package which rewards loyal customers by giving them discounts on their interest rates, discounts which get bigger the longer they keep their loan with the bank. That is a New Zealand first, SuperBank boss James Munro says.

It will mean that customers who stay at SuperBank for the long term won't be expected to haggle to get rates which are equal to, or better than, those enjoyed by someone who has just taken out their first loan.

Read More - Opens in a new window
Commenting is closed

Property News

Key reform will only protect bad tenants

Getting rid of “no cause” termination notices only serves to protect bad tenants and will have a negative impact on the broader community, not just landlords, according to landlord advocates.

House Prices

No stopping Capital price rises

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.


Demand challenges for commercial sector

Vacancy rates in the commercial property sector are set to increase as changing economic conditions dampen demand.

Site by PHP Developer