The new-build interest rate wars are really ramping up now. ASB and AIA's record breaking low 1.79% Back My Build rate has a new contender! ANZ has announced Blueprint to Build with an even lower, 1.68% floating rate for new builds. So, what are the fish hooks and how does it compare to Back my Build?
ANZ's Blueprint to Build is a market leading offer to support those building a new home. The offer is available from July, 5th 2021. It's a 2.76% discount off the ANZ Home Loan floating rate for 2 years. The discount will be available on loans to build but doesn't apply to renovations, sections or bare land.
What's more, ANZ is offering up to $3000 cashback for first home buyers. Something that ASB and AIA aren't offering with the Back my Build scheme. Similarly to Back My Build, there is also a cash contribution to 6+ homestar rated homes.
ANZ is offering customers who are currently part way through a build this offer. If your lending is with ANZ and you are building, we will be in touch with you this week to arrange this great new rate.
If you'd like to know more about this great rate and whether it's a good fit for you, contact the team at My Mortgage.