3 June 2021
Investors can secure a home loan interest rate from as low as 2.39% with Heritage Bank, after cuts to mortgage rates were announced today.
Heritage has reduced variable and fixed term interest rates for investors across many of its mortgage products from today (Thursday 3 June), making it even more attractive to borrow with the customer-owned bank.
The interest rate is now 2.39% on Heritage’s 1, 2 and 3-year investor Fixed Rate principal and interest product for borrowers with a loan to value ratio (LVR) equal to or less than 90%. That is a big reduction of up to 0.40%.
Heritage now also offers an interest rate of 2.49% on 1, 2 and 3-year investor Fixed Rate interest-only loans, for borrowers with an LVR equal to or less than 90%. That’s a whopping 0.50% cut on the 1-year interest-only Fixed Rate.
Other interest rate cuts for investors include 0.10% reductions on Home Advantage Variable for borrowers of $250,000 to $699,999 with an LVR of equal to or less than 80%.
Heritage Bank CEO Peter Lock said: “As a mutual, our aim is always to provide the best possible rates we can for our borrowers and these out-of-cycle cuts demonstrate that.
“Current conditions mean that we’re in a position to reduce rates for borrowers and we’re thrilled to be able to pass on those savings.
“We think these new rates, coupled with Heritage’s history of providing excellent service, make our investment home loan products an even more attractive proposition for borrowers.”
You can learn more about Heritage’s home loan interest rates here.