Mortgages

People's bank steps into home loan gap

KiwiBank has signed a deal with Bluestone Mortgages to provide home loans for high-risk customers it is not prepared to lend to itself.

Sunday, August 29th 2004

Under the agreement, customers who do not meet Kiwibank criteria will be referred to Bluestone, netting the bank a commission of about 1% a time.

The bank's strategy behind the plan is to help customers get mortgages, while keeping their everyday banking such as deposit accounts and credit cards.

Kiwibank then monitors the Bluestone loans and when the borrower has built an acceptable credit record, Kiwibank will offer to refinance the loans.

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Unity First Home Buyer special 3.99
SBS FirstHome Combo 4.29
Co-operative Bank - First Home Special 4.39
ANZ Special 4.49
Kiwibank Special 4.49
ASB Bank 4.49
SBS Bank Special 4.49
TSB Special 4.49
Westpac Special 4.49
BNZ - Std 4.49
Co-operative Bank - Owner Occ 4.49
TSB Special 4.49
Wairarapa Building Society 4.59
ASB Bank 4.65
SBS Bank Special 4.65
ANZ Special 4.65
Westpac Special 4.65
AIA - Go Home Loans 4.65
BNZ - Std 4.65
Kiwibank Special 4.69
Kainga Ora 4.75
Nelson Building Society 4.87
SBS Bank Special 4.99
Westpac Special 4.99
TSB Special 5.39
ICBC 5.39
BNZ - Std 5.39
AIA - Go Home Loans 5.39
ASB Bank 5.39
ANZ 5.49
Co-operative Bank - Owner Occ 5.49
Kainga Ora 5.49
SBS Bank 5.59
SBS Construction lending for FHB 3.74
CFML 321 Loans 4.25
AIA - Back My Build 4.44
Heartland Bank - Online 5.45
Co-operative Bank - Owner Occ 5.70
Co-operative Bank - Standard 5.70
ANZ 5.89
TSB Special 5.94
ASB Bank 5.99
BNZ - Std 5.99
Westpac 6.09

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