Mortgage bankers Cairns Lockie Limited announced today the addition of a one year fixed mortgage to its product range. This expands the fixed offering previous limited to 2, 3 and 5 year fixed periods.

The 1 year fixed rate will be 8.25% and is available immediately.

Mr Lockie noted that at 8.25% the Company's one year fixed rate was amongst the more competitive in the market.

Current rates are Variable 8.35% One year fixed 8.25 Two year fixed 8.35 Three year fixed 8.38 Five year fixed 8.45 Line of Credit 8.70

A further enhancement announced today was the expansion of the interest only options to include one-year interest only. This is addition to 2,3 and 5 year interest only on regular mortgages and 10 years interest only, on line of credit mortgages.

Cairns Lockie Limited is a mortgage banking company specialising in residential and residential investment lending. It has a strong internet presence through its site www.emortgage.co.nz

-ENDS