BankDirect beefs up home loan emphasis

Mortgage Rates

Both moves come as Kevin Leith, the ASB Bank subsidiary’s marketing manager since January 2000, is appointed head of BankDirect.

The mobile managers will target mortgage holders who prefer to discuss their requirements in person or out of business hours. They will be available seven days a week in Auckland, Northland, Waikato, Bay of Plenty, Wellington and Christchurch.

"We’ve listened to our customers who prefer face-to-face contact or are too busy to make an appointment," Leith says. "So now BankDirect can come to you, discuss your loan and rate options, perhaps on a Sunday at your place over a cup of coffee."

The SWITCH service comes at a flat $300 fee and with no requirement for a lawyer. Those wishing to switch to BankDirect can also leave dealing with their former mortgage provider to BankDirect. The bank says switching mortgage providers can cost up to or more than $1,000.

BankDirect also says Reserve Bank figures show that over the last three years its variable mortgage rate has consistently been up to 0.5 percentage points lower than the five major trading banks and HSBC.

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