Campaign Sees HSBC Offer Lowest Fixed Rates in NZ

Campaign Sees HSBC Offer Lowest Fixed Rates in NZ

HSBC has today announced a brand new mortgage campaign which will see it offering a ‘clean sweep’ of the lowest fixed home loan rates available from a bank in New Zealand. Kicking off the campaign will be a decrease in the two, three and five year fixed home loan interest rates*.

HSBC’s two year rate has been reduced by 25 basis points from 6.74% to 6.49%, the three year rate dropping by 10 basis points from 7.09% to 6.99% and the five year rate by six basis points from 7.65% to 7.59%. Further to that, the six month rate increases by 50 basis points from 4.99% to 5.49% - however, it’s worth noting that the next lowest six month rate offered by a bank in the market is 6.25%.

John Barclay, Head of Personal Financial Services, at HSBC says: “Five months ago we announced our drive to offer the best fixed rates in the market. Since then we’ve been aggressive on a number of rates, but today’s announcement sees us leading the market with the lowest rates on offering.”

“The launch of today’s campaign is in part due to the success of our initial campaign, but it’s also a reflection of the current housing market. New Zealand is officially out of the recession, and we’re seeing a gradual increase in the number of buyers at the premium end of the market wanting to purchase property – particularly now that the weather is starting to warm up. Of those who are looking to buy, a number have expressed a strong preference for fixed rates – especially with the uncertainty in the market. This is about providing them with the competitive rates they are after” he continues.

To be eligible to take up the HSBC home loan offer, customers need to qualify for HSBC Premier, with minimum combined home loans of $500,000, or $100,000 in savings and investments.

Key benefits of HSBC Premier include a dedicated relationship manager to assist customers with their banking needs, 24/7 banking, no ATM fees anywhere in NZ or the world, access to 300 HSBC Premier Centres worldwide, uniformity of service internationally and privileges such as an additional flight luggage allowance1.
From today, the current HSBC Premier fixed home loan interest rates will be: New rates previous rates
6 months 5.49% 4.99%
1 year 5.99% 5.99%
2 years 6.49% 6.74%
3 years 6.99% 7.09%
4 years 7.30% 7.30%
5 years 7.59% 7.65%
Floating 6.49% 6.49%

ENDS

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