Scoop has an Ethical Paywall
Kiwibank reacts to Reserve Bank relaxing lending rule
10 December 2013
MEDIA RELEASE
Kiwibank reacts to Reserve Bank relaxing lending rule
Kiwibank has reacted immediately to the decision by the Reserve Bank to exempt new residential construction from the lending “speed limits” that restrict low equity lending.
Kiwibank Chief Executive Paul Brock has announced a 4.99% floating rate special for new owner-occupied construction. The bank has already been promoting a 4.65% floating construction loan offer in Canterbury as part of its rebuild commitment for the area following the earthquakes.
Mr Brock said removing new construction from the LVR restrictions is great news. “We are already able to provide Welcome Home Loans without restriction. This enables us to help more people get into their own homes.”
The special floating rate offer is a 0.66% discount on the published variable rate for the first two years from drawdown. The offer will be available for a limited time. Normal lending terms and conditions apply.
ENDS
Business Canterbury: Urges Council To Cut Costs, Not Ambition For City
Wellington Airport: On Track For Net Zero Emissions By 2028
Landcare Research: ANZAC Gall Fly Release Promises Natural Solution To Weed Threat
NZ Anti-Vivisection Society: Auckland Rat Lovers Unite!
University of Canterbury: $1.35 Million Grant To Study Lion-like Jumping Spiders
Federated Farmers: Government Ends War On Farming
