SBS Bank claims first home buyer award for third straight year
SBS Bank Group Chief Executive Mark McLean said SBS last year helped 1950 members into homes, which was up from 1449 the previous year.
Enter your email address to get The Southland Tribune editions sent direct to your email inbox.
Economic conditions have conspired against first home buyers over the past three years. A weak economy, job insecurity, and high interest rates have put many Kiwis’ homeownership plans on ice.
However, the Invercargill-based SBS Bank has continued to provide steadfast assistance and support to make dreams of homeownership a reality.
That was highlighted on Wednesday with SBS Bank being handed Canstar’s prestigious Bank of the Year - First Home Buyers Award for a third straight year.
At the SBS Group’s AGM on Wednesday SBS board chairman Joe O’Connell said for the year ending March 31 almost 7000 new members joined SBS on the back of strong growth of first home buyers, as well as investment members.
SBS Bank Group Chief Executive Mark McLean said SBS last year helped 1950 members into homes, which was up from 1449 the previous year.
“We are immensely proud to hold the title now for three years, back-to-back,” McLean said.
Canstar’s analyst team noted the prevalence of cashback offers among the financial institutions in its research and commended SBS Bank for offering a complete wraparound service to first home buyers, one that delivers extremely competitive rates in addition to a range of cash and other financial incentives.
Canstar Group Manager of Wealth, Health & New Zealand Tom Slee said: “While it’s never been easy to save for a first home, the current economic environment has made it even more challenging. However, SBS Bank’s FirstHome Combo has been there consistently to support the aspirations of first home buyers.
“The Combo’s mix of advice, discounted rates and market-leading cashback and financial incentives makes it a standout mortgage product for anybody contemplating a first-home purchase. Congratulations to the team at SBS Bank for its hat-trick win.”