Mortgages

Kiwibank stays aloof from home loans price war

The government-owned Kiwibank has chosen not to participate in the pricing war in the home loans market which has seen the major banks slash their profit margins to the bone.

Wednesday, November 24th 2004

While Bank of New Zealand is offering a two-year fixed rate loan at 6.90%, ANZ Bank and ASB Bank are offering two-year fixed rate loans at 6.95% and Westpac is offering a "special" of 6.99% fixed for 18 months, Kiwibank’s two-year fixed rate remains significantly higher at 7.35%.

That’s despite the fact that Kiwibank still guarantees that its home loan customers will be better off over a six-year period than they would with the major banks.

Kiwibank spokesman Bruce Thompson says while that guarantee remains in force but his bank doesn’t try to match short-term offers on individual rates.

It remains confident its loans will still be cheaper over time.

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Most Read

Unity First Home Buyer special 3.95
SBS FirstHome Combo 3.99
TSB Special 4.49
SBS Bank Special 4.49
Co-operative Bank - First Home Special 4.49
ICBC 4.49
Unity Special 4.49
ASB Bank 4.59
ANZ Special 4.59
Westpac Special 4.59
Kiwibank Special 4.59
ICBC 4.89
Unity Special 4.89
BNZ - Std 4.89
Kiwibank Special 4.89
SBS Bank Special 4.89
Kainga Ora 4.95
China Construction Bank 4.95
TSB Special 5.09
ANZ Special 5.09
ASB Bank 5.09
Nelson Building Society 5.09
Westpac Special 5.59
ICBC 5.65
Kainga Ora 5.69
TSB Special 5.69
SBS Bank Special 5.69
AIA - Go Home Loans 5.69
ASB Bank 5.69
BNZ - Std 5.79
Co-operative Bank - Owner Occ 5.89
Kiwibank Special 5.89
China Construction Bank 5.99
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 5.75
Unity Standard 5.79

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