Westpac NZ is offering Kiwis potential savings on their mortgage repayments by cutting a range of home loan rates and introducing the lowest three year rate among major banks.
The two, three, four and five year special rates are as follows:
- 2-year rate reduced to 2.69%
- 3-year rate reduced to 2.79%
- 4-year rate reduced to 2.99%
- 5-year rate reduced to 2.99%
Westpac NZ General Manager of Consumer Banking and Wealth, Gina Dellabarca, says the bank continues to provide leading home loan rates to customers.
“All of our special rates are now under 3% across the full range of terms, and customers due to re-fix their mortgage also have the option of splitting it between our great one-and-two-year rates and a longer-term rate,” Ms Dellabarca says.
“These offers are likely to be particularly appealing to first home buyers and we’re excited to help them into their first home.”
The new rates will be effective Friday May 29 and will be available to customers with a minimum of 20% equity.