Home Loans Star Ratings
It’s more than likely buying a home will be the biggest financial investment you will make in your life. Apart from physical property considerations, organizing a home loan is a major part of the deal. Navigating your way through the ever-changing maze of home loans offered by lenders everywhere is not easy for some. That’s why our research at CANSTAR is so valuable.
We’ve scrutinized the majority of home loans on the New Zealand market – 56 from 10 banks – to come up with products that offer outstanding value for home buyers. To do this we look at the core loan without all the bells and whistles of introductory specials. At the moment the promotional battlefield for customers is on fixed terms, particularly 2-year fixed loans. Our research, however, includes only new customer loans that are available for all fixed terms that meet our research criteria. Of course, floating rate loans have also been put under the microscope, as have property investment loans.
Loan-to-valuation ratio, or LVR, is an important consideration, particularly for first home buyers. Those looking to borrow 80% or more of the property’s value can confidently check out our ratings because that is another of our strict research criteria. There’s no doubt the home loan environment in New Zealand is as healthy as the real estate market it underpins.
CANSTAR research is proud to do its part by helping consumers make a short list of home loans worth following up.