Another bank moves to match the market-low low three year mortgage 'special' at 4.49% as they adjust to protect their rate competitiveness

Westpac has matched ASB’s home loan moves with ‘specials’ at the same rate.

This means they have raised their one year ‘special’ by +4 bps to 4.39%.

And they have introduced a new 3 year fixed ‘special at 4.49%.

Westpac’s new rates are available from Friday, November 6, 2015.

All other Westpac rates remain unchanged.

Westpac’s ‘special’ rates have eligibility criteria, which includes a minimum of 20% equity, salary credit to a Westpac transaction account plus a Westpac credit card or a specified Westpac insurance product, to be approved or issued prior to drawdown date.

Their special fixed interest rates cannot be used in conjunction with any other Westpac home loan offers or discount packages, including previously negotiated offers, legal fee contributions or the Westpac Choices Home Loan with Airpoints.

And, Westpac’s special fixed interest rates do not apply to loans for business purposes.

Borrowers should always negotiate for lower than carded rates, especially if you have equity of 20% or greater.

Talking to your bank’s main rivals and knowing what they will offer is the best way to start negotiations with your bank.

See all banks advertised, or carded, residential mortgage rates here.

These new fixed mortgage rates now compare across all banks as follows:

below 80% LVR 6 mths  1 yr  18mth  2 yrs   3 yrs   5 yrs 
    % % % % %
5.15 4.35 4.95 4.49 5.10 5.35
ASB 4.85 4.39 4.49 4.49 4.49 5.09
4.99 4.35   4.39 5.19 5.35
Kiwibank 5.19 4.49   4.49 4.85 5.35
Westpac 5.15 4.39 4.95 4.49 4.49 5.35
             
4.99 4.35 4.49 4.49 4.85 4.99
HSBC 5.15 4.25   4.49 4.99 4.99

4.99 4.35 4.69 4.49 4.79 5.29
5.29 4.35 4.69 4.39 4.79 5.35

<!–

//–>