FMT unveils limited 7.99% lending offer nationwide
First Mortgage Trust (FMT) has launched a limited-time lending special offering a 7.99% p.a. interest rate for quality residential property loans across New Zealand’s main centres, just ahead of the Reserve Bank’s next OCR decision, amid renewed focus on borrowing costs.
The offer is available until June 30, or until the allocated $100 million funding pool runs out.
“This is the first time in a long while we’ve released a special rate like this,” said Phil Bennett (pictured), head of lending at FMT.
Designed for a tighter lending environment
The offer comes at a time when borrowers and advisers are navigating tighter credit conditions.
FMT, named Non-Bank Lender of the Year at the 2025 New Zealand Mortgage Awards, said the new rate is intended to support eligible deals with clear and simple criteria.
“We know advisers and their clients are operating in a tighter lending environment, and we’re proud to bring a solution to the table — but it’s first in, first served,” Bennett said.
Offer details: Clear criteria, competitive terms
FMT’s lending special is targeted at residential property lending only (excluding vacant land and completed sections) and applies only to properties in New Zealand’s main centres. Key details include:
- Interest Rate: 7.99% p.a.
- Minimum Term: 12 months
- LVR Requirement: Less than 55%
- Loan Type: Residential lending only
- Interest Servicing: Required (no capitalised interest)
- Establishment Fee: 1.5% minimum
- Location: NZ main centres
- Settlement Deadline: June 30
The offer also applies to eligible existing clients with loans expiring on or before June 30, if renewed for at least 12 months.
Flexible, adviser-friendly approach
FMT said it remains open to working collaboratively with advisers to assess deals that may fall just outside the published criteria.
“Got a deal that might fit? As per usual our team are flexible and happy to workshop a deal to see if we can make it work,” the company said.
Apply early — funding capped at $100 million
With just $100 million allocated, the lending special is strictly limited. FMT urges advisers and borrowers to act quickly to secure access to this rate.
