SBS Bank is Canstar’s Bank of the Year | Home Loans 2022

Canstar is proud to announce the winner of its 2022 award for Bank of the Year | Home Loans: SBS Bank.

Securing the best mortgage has always involved shopping around and comparing home loans. But in the current housing climate, it’s more important than ever to do thorough research into the best home loan providers.

Currently, the country is enduring a perfect storm of housing constraints. After two years of sky-rocketing house prices, interest rates are headed in the same direction, and fast. Back in July last year, the average two-year fixed rate on Canstar’s database was 2.86%. Now it’s 4.7%.


And the increased cost of financing a mortgage comes just as the building industry faces its own problems. The number of new homes consented in the 12 months to the end of February reached a new annual record of 49,733, up 25% compared with the same period during 2020-21.

They are the largest numbers since the last building boom, back in the mid-1970s. However, as consents soar, shortages of labour, rising building materials costs and constraints in the supply chain threaten to throttle the supply of new homes.

So more than ever, when looking for a mortgage, you need a lender you can trust to support you at every step of your house-purchasing journey. One that provides great-value rates and professional advice and guidance.

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Bank of the Year | Home Loans

And this is where Canstar’s Bank of the Year | Home Loans award can help guide your choice of mortgage lender. This year, our expert research panel compared and rated 60 home loan products from 11 providers, across five home loan categories:

  • Residential Fixed
  • Investment Fixed
  • Residential Floating

  • Investment Floating
  • Line of Credit

Each home loan reviewed was awarded points for the array of features it offers, and its comparative price, which includes rates and fees. The research forms the basis of our 5-Star ratings and awards for Outstanding Value Home Loan Lenders.

However, the main award on the back of the research is our prestigious Bank of the Year | Home Loans, for the home loan lender that excels across all mortgage products.

And this year, Canstar is proud to announce that the winner is SBS Bank.

Bank of the Year | Home Loans

In response to the SBS Bank’s win, Jose George, Canstar NZ General Manager, said: “Our research has made clear how incredibly tough it is out there for both homeowners and those wanting to get into the market.

“In a highly competitive field, SBS stood out due to the value it provides to customers, and the products on offer. We congratulate them for their success.”

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On behalf of our award winner, SBS Group CEO Mark McLean said: “We’re delighted to have been recognised as the 2022 Canstar Bank of the Year | Home Loans. As a mutual bank, our members have been an integral part of our commitment to delivering outstanding value for over 150 years.

“We demonstrate this through our product and service offerings including our home loans. And this independent award from Canstar pays testament to the efforts of the entire SBS Bank team in ensuring that both our competitive pricing and superior product features continue to provide our members with yet another reason to bank with a mutual bank that puts its members at the heart of everything.”

For more on our Bank of the Year | Home Loans awards click here

In the market for a home loan, Canstar can help?

If you’re considering buying a property, Canstar can help make the process a little easier. In addition to our rankings and awards for Outstanding Value Home Loans, our free and easy-to-use comparison tool covers all the major players in the home loan market.

Not only does it help you quickly and easily find the products with the lowest rates, it also shows which lenders and mortgages have earned our prestigious Star Ratings. There are awarded on the basis of our expert analysis. For more on our Bank of the Year home loan award click here, or to compare rates hit this button:

Compare home loan rates for free with Canstar!

About the author of this page

Bruce PitchersThis report was written by Canstar’s Editor, Bruce Pitchers. Bruce began his career writing about pop culture, and spent a decade in sports journalism. More recently, he’s applied his editing and writing skills to the world of finance and property. Prior to Canstar, he worked as a freelancer, including for The Australian Financial Review, the NZ Financial Markets Authority, and for real estate companies on both sides of the Tasman.

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