Major banks slash floating interest rates for new builds

by | Jun 27, 2021 | Blog | 0 comments

How low can you go?

Very low, it seems, with New Zealand’s major banks offering incentives for those financing new builds and house and land packages.

ANZ has just announced a floating interest rate of 1.68%, available from 5 July, for borrowers who are financing a new build. Dubbed the Blueprint to Build, the ANZ special rate will be available for 24 months for new builds and projects that are already underway. 

ANZ aren’t the only ones competing for the new build market, with ASB last month launching a 1.79% floating interest rate through a programme called Back My Build, for people building a new house or buying a house and land package. 

Standard floating home loan rates are generally around 4.44% to 4.59% so these reduced rates represent a significant departure from the norm and a great incentive to get new builds underway. 

Talk to us today to find out more about the range of house and land packages currently available in Auckland. 

Our focus at NZ First Home is helping more New Zealanders into their first homes. We aim to make purchasing your first home as simple and risk-free as possible.

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