The Co-operative pushes for first home buyers

The challenger bank, run by David Cunningham (pictured), has launched its new offer this morning, available for owner-occupiers purchasing their first property with a minimum 20% deposit.

The new rate makes The Co-operative an attractive proposition for first time buyers, as banks across the market clamour for prime borrowers.

At just 2.09%, the rate is the cheapest one year offer in the market, aside from Heartland's digital mortgage at 1.99%, a limited offer to the NZ market. 

The Co-op has also slashed its six-month to two-year rates this morning as mortgage rates continue to fall.