Kiwibank extends Chch mortgage help

Last updated 08:33 12/10/2012

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Kiwibank is extending its Christchurch earthquake home loan package through to the end of next year.

Aimed at people affected by the earthquakes who are eligible for the Government's red zone assistance, the initiative was launched in June and had been scheduled to end this December.

The mortgage offer is a 2 per cent discount on the bank's floating rate for a year from draw down. Based on the current floating rate this would be 3.65 per cent.

The loan is available to people who accept the offer from the Government and want to buy or build a home elsewhere. They would be required to contribute the Government's payout towards the property purchase price.

Kiwibank has also appointed Tracey Berry as general manager for Canterbury Growth.

She said Kiwibank was also offering a special home loan offer for Christchurch customers building new homes.

"The special rat is a 1 per cent discount on the floating rate for one year from drawdown (making the rate 4.65 per cent per annum) plus we are offering 0.25 per cent off all our standard fixed rates."

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- © Fairfax NZ News

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