24 June 2011

Westpac support for red zone residents

Westpac is offering a variable rate of 3.65% for Christchurch residents in the Government’s residential red zone.

The new rate is open for those residents who qualify and take up the Government’s offer to sell their property. Home loan amounts are limited to $500,000. The offer is available until December 2012 and is available for a term of 12 months. Break fees for red zone customers will also be waived.

Westpac’s Acting Chief Executive Officer, Gai McGrath, said residents in the red zone could now plan for the future.

“The uncertainty over the last few months has weighed heavy on those in Christchurch. Hopefully, for those in the red zone, they can start to think about a fresh start and we want to help them achieve that,” she said