July 2016 changes to loan-to-value ratio (LVR) restrictions
We have made changes to the current loan-to-value ratio (LVR) restrictions, following a proposal by the Reserve Bank of New Zealand in July 2016. These will impact new home loans for owner-occupiers and residential property investors.
|Name||Type||Floating^||6 months||1 year||18 months||2 years||3 years||4 years||5 years||7 years|
||Fixed or floating||-%||-%||-%||-%||-%||-%||-%||-%||-%|
For other rates, including low equity interest premium, see other home loan rates.
See our mortgage calculators
Low equity interest rate premium
A low equity interest rate premium will apply to all loans with less than 20% equity (more than 80% Loan to Value Ratio - LVR). For residential property investors, more equity may be required, where Reserve Bank minimum equity restrictions apply. More about LVR
|Loan to Value Ratio||Premium|
|80.01% to 85%||0.35%|
|85.01% to 90%||0.75%|
|90.01% to 95%||1.00%|
Default Interest Rate
A Default Interest Rate may apply if a loan repayment is not made when it is due. The Default Interest Rate is the current interest rate that applies to your loan, plus 2.00% p.a.
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All home loans are subject to our lending criteria (including minimum equity requirements), terms and fees. Interest rates are subject to change. An establishment fee of up to $400 may apply for personal lending (the fee may be different for non-personal lending). Not for business purposes.
Rate subject to change. Classic fixed rates are only available when you have at least 20% equity in the property provided as security, but where Auckland residential investment property is involved, more equity may be required, if Reserve Bank minimum equity restrictions apply. A BNZ transactional account with your salary or wages credited and one other product is required. A ratelock fee and early repayment charges may apply. Not available for packaged offers.
Rates subject to change without notice.
This home loan is not included in group balance calculations for fee rebate or other purposes.
For interest rates applicable to packaged offers, please call us free on 0800 275 269.
Additional Account, Service and Facility Fees may apply.
These rates may differ for existing home loan customers. For more information please call us free on 0800 275 269.
BNZ (and its related companies) do not guarantee the redemption of Fly Buys or that Fly Buys will continue to be offered for products or services provided by them. The BNZ Fly Buys home loan is also known as the BNZ Standard Home Loan. Fly Buys terms and conditions apply.
You can make extra repayments up to 5% of the balance of your loan amount at the start of your fixed term, without early repayment charges.
For individual customers (where the customer is a natural person and not a company/trust) if the loan is primarily for personal, domestic, or household purposes.
For all non-personal lending, including but not limited to cases where investment properties, family trusts or companies are involved, a fee of up to 1% of the loan may be charged for this service.
This fee will be charged to customers who despite notice from BNZ do not pay their Council rates levied against their property. The fee will be charged by BNZ on each occasion it has to pay such outstanding rates on behalf of a customer.
Our usual Service Fees apply and are not included in the Account Fee rebate.
Fees are charged on the last business day of each calendar month and are based on the period between the last business day of the previous calendar month and the second to last business day of the current month, inclusive.
Internet, Electronic (including EFTPOS, Direct Debits and Telephone Banking), Automatic Payments and ATM transactions. Automatic Payments into your account from other parties are classed as Electronic Transactions. Although the Telephone, Internet Banking and ATM services will normally be available 24 hours a day, maintenance of the system is required from time to time. Accordingly certain options may not be available for an average of three hours a week. This maintenance, however will be carried out at times which will cause the least disruption to you.
Cheques, Store and Staff Assisted transactions.