Looking at the first interest rate changes for the year, HSBC increased its six-month and one-year fixed rates by 25 basis points for its Premier product with the rates still well below bank medians. However the rates are subject to a home loan of $500,000 or more.
In news, customers can expect switching banks to be easier this year as Payments NZ has enacted changes requiring greater co-operation between banks in the process and we talk to The National Partnership (TNP) about its new mortgage broking arm which is to be headed by NZ Mortgage Brokers Association boss Darren Pratley.
