12 October 2012

MEDIA RELEASE

Kiwibank Extends Special Package for Christchurch

Kiwibank has today announced an extended range of home loan packages for people affected by the earthquakes in Christchurch .

Kiwibank has also appointed a senior manager to oversee its commitment to Canterbury following the earthquakes. Tracey Berry, who lives in Christchurch and has extensive experience in the New Zealand banking industry has been appointed General Manager, Canterbury Growth.

The home loan package for people affected by the earthquakes and eligible for the Government’s red zone assistance will now be open for applications through to the end of next year. It was originally launched in June last year AND DUE TO END IN December this year. The offer is for mortgage lending at a 2 per cent discount on its floating rate for a year from draw down. This means that the rate will be 3.65% p.a. based on the current variable rate.

The loan package is available for those who accept the offer from the Government and wish to purchase or build a property elsewhere. They will be required to contribute the Government’s payout towards the property purchase price.

Ms Berry said Kiwibank also now has a special home loan offer for Christchurch customers who are building new homes. “The special rat is a 1% discount on the floating rate for one year from drawdown (making the rate 4.65% p.a.) plus we are offering 0.25% off all our standard fixed rates.

Kiwibank can also now offer new insurance policies through TOWER. This will be on a case by case basis for property owners in TC1, TC2 and rural/unmapped zones. To be eligible, you’ll also need a contents or motor policy with TOWER.

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