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Housing: Cut-price mortgages - ASB Bank offers 1.79% for new build home loans
16 May, 2021 09:43 PM
2 minutes to read
Frances Cook and OneRoof s Need to Know series set the record straight on the home loan process.
Frances Cook and OneRoof s Need to Know series set the record straight on the home loan process.
ASB is to use cheap funding from the Reserve Bank to offer a cut-price mortgage to home builders.
The 1.79 per cent rate is available to those who build a new home from scratch or buy a home and land package.
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The rate is substantially lower than the one-year fixed terms at the other major banks which sit around 2.25 per cent although Heartland Bank last week announced a 1.85 per cent rate fixed for one year and a 1.95 per cent variable rate.
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