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Terms and Conditions for Home Loan Campaign Offer

  1. Any person (the Borrower) who applies for a new Home Loan at The Co-operative Bank between 22 December 2011 and 1 June 2012, and has that loan approved before 1 June 2012 (a Loan):
    1. depending on the amount of his or her Loan, that Borrower will be entitled to a waiver of the loan establishment fee and/or a contribution to his or her legal costs incurred in obtaining his or her Loan, as determined by the following table (the Table):
     
    Loan Amount Total Benefit ($)
    Standard Loans  
    Under $75,000 Nil
    $75,000 to 99,999 150
    $100,000 to 149,999 450
    $150,000 to 249,999 650
    $250,000 to 349,000 850
    $350,000 plus 1000
     
    Low Equity Loans  
    All loan amounts Nil
     
    Specialty Loans (Fresh Start)  
    All loan amounts Nil
     
  2. To apply for a contribution to his or her legal costs, the Borrower must provide the cost of legal fees incurred in relation to obtaining his or her Loan. This must be provided to The Co-operative Bank within 60 working days after the loan is first advanced.
  3. After The Co-operative Bank receives advice on the incurred legal costs, in relation to obtaining the Borrower's Loan, The Co-operative Bank will pay those legal costs up to the maximum amount for which the Borrower is eligible according to the Table, to the Borrower's The Co-operative Bank current account.
  4. The Co-operative Bank may, at its sole discretion, determine that the whole or part of a payment of the Borrower's legal costs will not be paid if The Co-operative Bank determines, at its sole discretion, that any legal costs claimed by the Borrower were not incurred in relation to the Borrower obtaining his or her Loan.
  5. This offer does not apply to any Borrower refinancing or redrawing any amounts on an existing Home Loan at The Co-operative Bank.
  6. If a loan is taken out jointly by two or more borrowers, the contribution to costs will be provided in respect of that loan.
  7. The offer is governed by these terms and conditions and is not available in conjunction with any other offer. The Co-operative Bank reserves the right to change the terms and conditions from time to time without prior notice.
  8. The Co-operative Bank normal terms and conditions apply to the opening and operation of accounts and services, and can be found at www.co-operativebank.co.nz.

Interest rates and fees are subject to change. An Investment Statement and the current Disclosure Statement are available from any branch of The Co-operative Bank or can be downloaded here. For all lending products, The Co-operative Bank lending and insurance criteria, and fees apply. If a home loan is greater than 80% of the property's value, a low equity interest rate premium, will apply.

 

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