Congratulations to The Co-operative Bank, rated the best bank for home loans by Kiwi mortgage holders for the fifth year in a row.
Most of Canstar’s banking awards are based on research undertaken by our dedicated team of number crunchers. However, our Most Satisfied Customers | Home Loans Award is different. It’s determined on the feedback we receive from hundreds of ordinary Kiwis about their levels of satisfaction with their mortgage lenders.
This year we canvassed the opinions of 1333 New Zealanders with home loans, and asked each to rate their lender across the following categories:
- Overall Satisfaction
- Application & Loan Settlement
- Communication
- Customer Service
- Interest Rate
- Loan Flexibility
- Fees & Charges
- Value for Money
We then awarded the home loan lender that achieved the highest Overall Satisfaction Rating our top award. And, once again, the winner is clear: The Co-operative Bank.
The Co-operative Bank: No.1 for Home Loan Satisfaction
The Co-operative Bank is a New Zealand bank that is 100% owned by its customers. And its commitment to delivering the best in home loans is clear. For the fifth consecutive year it earned great reviews from its customers, who awarded it top marks across our judging categories, including Value for Money, Customer Service and Overall Satisfaction.
The Co-operative Bank offers the following home loans:
Fixed Rate Home Loan
Comes with the certainty of knowing exactly how much your repayments will be, for a fixed period of time. Plus you can make extra repayments each year of your fixed term, of up to 5% of the balance, without added fees, to help clear your mortgage faster and pay less interest.
Floating Home Loan
Offers the flexibility to make extra repayments or pay off the loan in full whenever you like without incurring early repayment fees. Go full floating, or pair a floating rate home loan with a portion on a fixed or revolving credit home loan for added flexibility.
Revolving Credit Home Loan
A transaction account and loan all in one. Your loan becomes an everyday account, with your money flowing in and out of it. Interest is charged based on what you’ve used of your limit each day. By keeping all your cash in the one account, and keeping your balance low, you can save interest costs.
First Home Buyers
The Co-operative Bank offers a special low rate for new lending from $250,000 for first home buyers with at least 20% equity, along with a 1% cash back, up to $20,000 on eligible home loans over $250,000. Through Kāinga Ora, borrowers may also be able to get a first home loan with a low 5% deposit.
Click here for more on The Co-operative Bank's award win
Whether you’re in the property market for a first home, an upgrade, a downgrade or an investment property, if you need a mortgage, you need to talk to the experts: lawyers, real estate agents and a mortgage lender. For the latter, let Canstar be your guide.
This year’s Most Satisfied Customers | Home loans is The Co-operative Bank, but it always pays to check out the competition and wider market rates. So to compare mortgage products, just click the big button below.
Compare Home Loans with Canstar!
About the author of this page
This report was written by Canstar’s Editor, Bruce Pitchers. Bruce has three decades’ experience as a journalist and has worked for major media companies in the UK and Australasia, including ACP, Bauer Media Group, Fairfax, Pacific Magazines, News Corp and TVNZ. 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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