Sharechat Logo

Heartland Group Holdings Limited (NZX: HGH) Heartland Drops Home Loan Rates to New Lows

Wednesday 12th May 2021

Text too small?

Heartland drops home loan rates to new lows: 1.85% p.a. 1-year fixed, 1.95% p.a. floating

Heartland Group Holdings Limited’s subsidiary Heartland Bank Limited (together, Heartland) has disrupted the home loan market again, this time with the reduction of its 1-year fixed and floating term loan rates. This announcement comes shortly after Heartland broadened its mortgage offering with New Zealand’s lowest revolving credit facility rate.

The challenger bank now offers the following fixed and floating rates, which are each the lowest of their category:

1.85% p.a. 1-year fixed

2.35% p.a. 2-year fixed

2.45% p.a. 3-year fixed

1.95% p.a. floating term loan

2.35% p.a. floating revolving credit

In the quarter ended 31 March 2021, the fintech lender saw a 173% increase in average monthly drawdowns compared with the previous quarter ended 31 December 2020, and has received over 6,600 applications since re-entering the residential mortgage market in October 2020. Heartland’s online process allows for a faster home loan approval than the traditional process with other lenders. Those who meet the eligibility criteria can fill out the digital application in minutes and get a decision online, with no need to make an appointment or arrange for someone to come to them.

“People shouldn’t need to pay so much for their mortgage,” explained Heartland Bank CEO Chris Flood. “Our approach to home loans is disrupting the traditional market in favour of a digital solution, one which can offer customers market-leading rates and time savings.”

Please see the link below for details

Heartland drops home loan rates to new lows: 1.85% p.a. 1-year fixed, 1.95% p.a. floating

Source: Heartland Group Holdings Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Contact Energy Limited (NZX: CEN) Considers Green Capital Bond Offer
Tourism Holdings Limited (NZX: THL) Sells Mighway and SHAREaCAMPER to Camplify
26th October 2021 Morning Report
Harmoney Corp Limited (NZX: HMY) Prices $105m Inaugural ABS Transaction
New Zealand Rural Land Company Limited (NZX: NZL) Agreement to acquire large scale dairy asset portfolio
EROAD Limited (NZX: ERD) launches Clarity Solo Dashcam
22nd October 2021 Morning Report
Pictor ready to roll out game-changing COVID antibody test in New Zealand
Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report