Cairns Lockie Slashes Fixed Rates

Following the release of the Quick Start Home Loan two weeks ago, non-bank lender Cairns Lockie Limited today announced it was slashing all its fixed rates; some by up to 20 points.

The new fixed rates become

Quick Start 7.75%
One-year 8.05% (down from 8.10%)
Two-year 8.05% (down from 8.10%)
Three-year 8.05% (down from 8.20%)
Five-year 8.15% (down from 8.35%)

"Cairns Lockie is pleased to be leading the market down again," said Director James Lockie, "the new fixed rates are significantly below the main trading banks, who are expected to follow suit shortly"

Rates have been reduced following a reduction in longer dated wholesale rates.

Mr Lockie noted that there had been considerable market interest in the Quick Start Home Loan. This fully featured one-year fixed rate loan priced at 7.75% pa is specifically targeted at new borrowers and is yet to be matched by main stream lenders.

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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