Wednesday, 5 May 2021, 5:29 am
All first home buyers can now access a 2.25% floating
home loan rate, the lowest in New Zealand, via Simplicity
KiwiSaver Scheme.
The floating rate was previously
only available to existing Simplicity members who had been
with the provider for one year.
But given its fast
growth, Simplicity is now offering the rate, with no waiting
period, to every first home buyer in New Zealand who
switches to its KiwiSaver scheme.
Floating rate
mortgages offered by banks range from 3.4% from Kiwibank, to
4.59% from Westpac.
“Not only will first home owners
pay a much lower floating mortgage rate than any bank, our