HSBC kicks off Spring lending campaign

The first of the bank Spring home loan campaigns is here. HSBC Premier has a new six month fixed home loan interest rate of 4.85% which is the lowest rate currently available in the home loan market

Monday, September 24th 2012, 10:50AM

HSBC Premier is welcoming spring with a new six month fixed home loan interest rate of 4.85%, the lowest rate currently available in the New Zealand home loan market.

Added to that HSBC is also offering up to $1,000 towards legal contributions for new loans in line with the 4.85% six month offer.

As usual with HSBC to qualify for this rate borrowers need to be "Premier" customers; that includes having either combined lending of $500,000 or more or $100,000 of savings and investments with HSBC

Besides cutting its six month rate HSBC has cut other fixed rates which are some of the lowest in the market.The new HSBC Premier rates are, one year at 5.25%, two year at 5.39%, three year at 5.74%, four year at 6.20% and the five year rate at 6.65%.

John Barclay, HSBC’s Head of Retail Banking and Wealth Management, says: “Over the last few years HSBC Premier has led the way with market leading interest rates, and with this current spring clean of our rates, we are pleased to continue this trend for September 2012.”

“With national house sale volumes up 16% in August 2012 compared with August 2011, the housing market continues to take a positive trend. Our current rate provides excellent value and opportunities for those people wishing to make the most of the new season housing market or to re-finance with HSBC Premier.”

“HSBC has the ability to offer these rates while the Reserve Bank of New Zealand continues to keep the Official Cash Rate low. It is therefore a great time for current or new home owners to take advantage of our highly favourable rates or even consider a mix of floating and fixed loan options,” Barclay says.

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