Westpac NZ cuts fixed home loan rates to support customers.

Westpac NZ has cut its fixed term housing interest rates as part of its ongoing support for New Zealanders affected by COVID-19.

The following changes will come into effect on Tuesday 24 March:

• 1-year special housing rate reduced to 3.09%
• 2-year special housing rate reduced to 3.39%

Westpac NZ General Manager of Consumer Banking and Wealth, Gina Dellabarca, says the bank has a range of options to help customers who are impacted as a result of COVID-19.

“We urge people who are concerned about their finances to contact us to discuss their options, which can include mortgage holidays, or temporary interest-only payments on their mortgages,” Ms Dellabarca says.

“We’ll be announcing additional support initiatives in the near future.”