ASB is actively recruiting 80 new homeownership specialists to support an expected increase in home loan applications.
Although the majority of the 80 full-time specialists have already been hired, a few positions remain open and are still being advertised. These specialists will be part of the bank’s in-house homeownership team as well as the mortgage adviser-led business.
About 80% of New Zealand homeowners are expected to refinance or refix their home loans within the next year, data from the Reserve Bank of New Zealand shows.
Many New Zealanders had previously locked in short-term home loan rates when interest rates were higher, but Adam Boyd, ASB’s Executive General Manager of Personal Banking, says the bank is now seeing customers shift toward longer-term fixes.
“As a result of falling rates, we expect 55% of our home loan customers will have locked in rates under 6% by December this year, compared to 40% in March 2025.”
ASB is making its refinancing process easier, allowing New Zealanders whose fixed-rate terms are ending at other banks to get quicker and simpler decisions when switching to an ASB home loan. Additionally, for its mortgage adviser-led business, ASB has rolled out a new system to enhance the quality of submitted applications, enabling faster processing.
“We are seeing elevated demand for our home loans. By growing our teams and enhancing our refinance process, we’ll be able to turn around applications faster, both for our customers and the mortgage advisers we work with, while continuing to deliver great service,” Boyd said.
“We continue to offer competitive pricing, having dropped fixed-rate mortgages six times this year. Our one-year fixed-term rate is currently joint market-leading, at 4.99%.”