ASB offers 1.9% floating rate on new builds

Mon, 17 May 2021

ASB Bank is offering those who want to build a house a 1.79% floating rate backed by funds provided by the Reserve Bank's funding-for-lending programme (FLP).The central bank is offering to lend banks up to $28 billion, depending on the size of each bank's loan book, under the FLP fixed for three years at the official cash rate, currently 0.25%.ASB's offer to both owner-occupiers and property investors, is the lowest in the market, beating Heartland's 1.95% floating rate offer which is limited to owner-occupiers.Other bank float...

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