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Mortgage Rates Commentary

ASB's astronomical offer

Wednesday 3rd of October 2012

As we reported on Monday ASB has lowered its two-year rate from 5.45% to 5.25% which is the lowest unrestricted rate on the market. It's also wooing customers with the offer of a free Galaxy tablet.

“This reduced two year rate launches our annual spring home loan campaign, which marks the traditional increased activity in house sales over the warmer months," ASB general manager retail products and strategy Shaun Drylie says, "We are pleased to offer this fantastic rate regardless of a customer’s loan to value ratio, and new home loan customers will also receive a free Samsung Galaxy tablet and up to $1,000 cash.”

Existing customers who fix for the next three, four or five years and are fixing $100,000 or more, will also receive a free Samsung Galaxy tablet.

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Doesn't this result call into question the criticism from certain quarters that Mortgage Advisers are driven predominantly by commission considerations?
2 hours ago The Laird
FMA wants clearer fees
@first time caller - I can see the complexity you highlight, but as above, investors should be able to see what they are paying without having to reference multiple documents. Investment admin can track and report deductions for tax, withdrawals, fees et al, would be /should be straightforward to aggregate advice fees into costs at member level... at least I hope so.
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