Mortgage News

BNZ removes high rates for low equity loans

Tuesday 11th of March 2014

It introduced, in August, a new set of rates for its Fly Buys and Global Plus loans where the borrower had a deposit of 20% or less. These rates were priced 50 basis points above its standard rates.

BNZ director of retail, Andy Symons, says the second tier was increased after the Reserve Bank’s “speed bump” lending restrictions came into force in October.

It was introduced because...

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