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60 basis point rate cut; Judge calls Pero relationship dysfunctional

Friday, August 17th, 7:03AM  Add your comment

Westpac has made an interesting move slashing 60 basis points off its five year fixed home loan rates. This clearly makes them a leader in this term (even bettering HSBC). The move comes a week after ASB took a market leading position in the four-year term.

Here is the five-year table sorted lowest to highest.

We have the next instalment of the Mike Pero court saga (that term is used loosely to include the man himself and some of the companies bearing his name). Clearly the parties can't work together. The judge said she doesn’t see how Mike Pero and MPM/MPMRE could ever continue to work together given the relationship is so dysfunctional.

Pero himself is willing to exit the “oppressive” partnership – either by selling up or buying out – but the companies lawyer says MPM/RE’s preference is for the partnership to continue.

Here's our wrap of what's happening.

RBNZ announces OCR decision

Thursday, September 28th, 9:00AM

Acting governor Grant Spencer reveals what was behind the Reserve Bank's decision.

SBS eyes partnership with mortgage advisers

Tuesday, August 1st, 11:19AM

The bank says around a third of its business now comes from advisers and chief executive Shaun Drylie gives his views on commission models.

Changes from last:

Lender type:

Term:

Property value:

Loan amount:

   Reset

Mortgage Lender Floating 6 mth 1 year 18 mth 2 years 3 years 4 years 5 years RC
ANZ 5.79 4.99 4.79 5.15 4.99 5.35 5.85 5.99 5.90
ANZ Special - - 4.29 - 4.49 4.85 - - -
ASB Bank 5.80 5.25 4.69 4.79 4.89 5.19 5.35 5.99 5.80
ASB Bank Special - 4.95 4.29 4.39 4.49 4.79 4.95 5.59 -
BNZ - Mortgage One 6.50 - - - - - - - 7.15
BNZ - Rapid Repay 5.95 - - - - - - - 6.74
BNZ - Special - - 4.29 - 4.49 4.85 - - -
BNZ - Std, FlyBuys 5.90 5.35 4.89 5.05 5.05 5.49 5.89 6.09 -
BNZ - TotalMoney 5.90 - - - - - - - -
Credit Union Auckland 6.70 - - - - - - - -
Credit Union Baywide 6.15 5.75 5.45 5.55 5.50 - - - -
Credit Union North 6.45 - - - - - - - -
Credit Union South 6.45 - - - - - - - -
Finance Direct - - - - - - - - -
First Credit Union 5.85 - - - - - - - -
Heartland 6.70 6.90 7.00 - 7.25 7.85 - 8.55 6.70
Heartland Bank - Online - - - - - - - - -
Heretaunga Building Society 5.75 - 5.00 - 5.20 - - - -
Housing NZ Corp 5.79 - 4.79 - 5.05 5.29 - 5.69 -
HSBC Premier 5.89 4.85 3.99 3.99 4.19 4.69 4.99 5.29 6.09
HSBC Premier LVR > 80% - - - - - - - - -
HSBC Special - - - - - - - - -
ICBC 5.80 4.99 4.59 5.00 4.69 5.09 5.30 5.85 5.70
5.80 4.99 ▼4.49 - ▼4.79 5.35 5.19 5.39 ▲6.05
Kiwibank - Capped - - - - - - - - -
Mortgage Lender Floating 6 mth 1 year 18 mth 2 years 3 years 4 years 5 years RC
Kiwibank - Offset 5.80 - - - - - - - -
Kiwibank Special - - ▼3.99 - ▼4.29 4.85 5.65 - -
Liberty 5.69 - - - - - - - -
Napier Building Society - - - - - - - - -
Nelson Building Society 6.10 - 5.10 - 5.45 - - - -
Resimac 5.30 - 4.86 - 4.94 5.30 5.50 5.67 -
RESIMAC Special - - - - - - - - -
SBS Bank 5.89 5.25 4.85 5.15 5.05 5.49 5.89 6.09 5.65
SBS Bank Special - 4.99 4.19 4.49 4.49 4.85 5.39 5.55 -
Sovereign 5.90 5.25 4.69 4.79 4.89 5.19 5.35 5.99 6.35
Sovereign Special - 4.95 4.29 4.39 4.49 4.79 4.95 5.59 -
The Co-operative Bank - Owner Occ 5.75 4.80 4.24 4.45 4.49 4.85 5.39 5.55 5.75
The Co-operative Bank - Standard 5.75 5.30 4.74 4.95 4.99 5.35 5.89 6.09 5.75
TSB Bank 5.80 4.99 4.74 4.85 4.99 5.35 5.75 5.99 5.80
TSB Special - 4.85 4.24 4.35 4.49 4.85 5.55 5.69 -
Wairarapa Building Society 5.70 - 4.85 - 4.99 - - - -
Westpac 5.95 5.25 4.99 5.15 5.05 5.44 5.89 ▼5.49 5.95
Westpac - Offset 5.95 - - - - - - - -
Westpac Special - - 4.29 - 4.49 4.85 - ▼4.99 -
Median 5.89 4.99 4.69 4.82 4.89 5.19 5.45 5.69 5.93

Last updated: 19 August 2018 10:31pm

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