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
More than fair “wear and tear”
Proving tenant liability for damage has long been a major worry for landlords but a recent Tenancy Tribunal shows that it can be done.
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.
Commercial
Demand challenges for commercial sector
Vacancy rates in the commercial property sector are set to increase as changing economic conditions dampen demand.
