Fixed Interest Rate Lowered

Cairns Lockie Limited Mortgage Bankers

The non-bank mortgage lenders continue to provide tough competition for the trading banks, this time in the fixed rate area.

Today mortgage bankers, Cairns Lockie Limited announced further reductions in its one, three and five year fixed mortgage rates effective immediately.

The new rates are One year 8.10 Three year 8.25 Five year 8.35

The two year rate remains at 8.20%.

The moves follow similar recent reduction in the wholesale markets.

Cairns Lockie now offers lower fixed rates (for two three and five year terms) than all the trading banks (except the National Bank). Mr Lockie said that Cairns Lockie was pleased to remain ahead of its banking competition. "It shows that non-bank mortgage lenders can provide viable long term competition and continue to offer consumers real choice", he said.

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-

For further information contact: James Lockie Director Cairns Lockie Limited Phone 09 525 9711 Fax 09 579 7795 Email jlockie@emortgage.co.nz Web www.emortgage.co.nz

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