Recommended NZ | Guide to Money | Gimme: Competitions - Giveaways

ANZ commits $500m loans for Christchurch rebuild

Contributor:
Fuseworks Media
Fuseworks Media

ANZ National has committed up to $500 million in further discounted mortgage lending to Christchurch residents as part of a new package to support the residential rebuild.

Retail Managing Director Kerri Thompson says the package, available to those building or rebuilding a property in Christchurch, will provide a market-leading one-year fixed home loan rate currently at 4.55% p.a. This is a discount of 0.70% below the national carded rate, which was itself cut this week by 0.40% to a market-leading 5.25% p.a.

ANZ and National Bank are also holding a series of free Moving Home seminars offering expert advice on the complex legal, property and financial issues in the post-quake environment. The measures come on top of a $1 billion fund of special variable mortgage lending launched last year to help owners of homes in the residential Red Zone.

Mrs Thompson says: "Many people in Christchurch are now tackling tough decisions on building or fixing their damaged properties, as they seek to get into homes and get their lives back on track as soon as possible. We are supporting them with measures that recognise the exceptional circumstances they face in the post-quake environment.

"This marks the next stage in our support for the people of Christchurch. We stood by Canterbury from the start by contributing millions of dollars to the quake relief effort through fundraising, staff and corporate donations - as well as a $1 billion fund for discounted lending to customers in the residential Red Zone. Meanwhile, we continue to help residents deal with earthquake-related issues through our dedicated Earthquake Response Centre," Mrs Thompson says.

"This new package is further proof that we will back Canterbury for the long haul."

ANZ National's Christchurch Region residential rebuild package

People taking out new lending of $100,000 and completing their build by 31 December 2013 will receive: ? $1,000 cashback towards the build ? When ready to fix, they'll get 0.70% off ANZ's and National Bank's one-year fixed

interest rate (currently 5.25% p.a.) making the effective rate 4.55% p.a. ? Even those now only thinking about building can register for the package by 30 June,

and have until December 2013 to complete the build and get these benefits ? The chance to win one of twenty 2013 Crusaders season tickets for two ? Offer available through ANZ and National Bank, and open to customers of any bank ? Applies to residential mortgage lending and is subject to normal lending criteria ? A series of public Moving Home seminars are being held, providing free information

and advice from property, legal and home loan experts

A number of public Moving Home seminars have been held at ANZ/National Bank at The Palms

All articles and comments on Voxy.co.nz have been submitted by our community of users. Please notify us if you believe an item on this site breaches our community guidelines.