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Ultimate Geek
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  Reply # 1232196 6-Feb-2015 13:27
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You are lucky that you bank didn't charge you much previously for a break in fee's.

This can be astronomical in some cases. Shopping around is the way to go but not sure how much longer this can last. Who knows what the reserve bank will do to try to stop the battle of the banks. Hike up the wholesale rate?
personally, I would prefer the cash to be offset against the term. Maybe if they are willing to fix part and allow you a small percentage on floating?

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  Reply # 1232197 6-Feb-2015 13:35
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http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11397379


interesting i wonder how many of the big banks will follow

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  Reply # 1232198 6-Feb-2015 13:37
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Holy crap!!

That is unbelievable.

10 year term..I remember back when I worked in banking 5 years was classed as risky but 10? At that rate though why would you not want to lock it in?

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  Reply # 1232203 6-Feb-2015 14:03
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thecatsgoolies: Holy crap!!

That is unbelievable.

10 year term..I remember back when I worked in banking 5 years was classed as risky but 10? At that rate though why would you not want to lock it in?


In the US you can do the whole 25 years...!

The big banks will probably have to follow as I think it will prove very attractive.





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  Reply # 1232220 6-Feb-2015 14:25
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That is a very low rate for such a long term. The bank would be betting on interest rates on increasing too much but noone know, so quite a gamble to get customers I think.

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