Heartland hastening them out with uncompetitive rates, homeowners say

Heartland Bank is exiting the New Zealand home loan business.

Tue, 20 May 2025

When Auckland homeowner Jo went to refix her mortgage with Heartland Bank, she was shocked to see the interest rates it was offering.She has always shopped around for her home loan and moved to Heartland a few years ago because it was offering the most competitive rates.Not any more.The bank confirmed at its interim results announcement in February that it is exiting the New Zealand home loan market and has since told customers it is no longer offering 18-month, two- and three-year terms.At 5.89%, its remaining one-year rate is almost an entire...

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