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- Dosh home loans, powered by Westpac NZ, are delivering an innovative solution to Kiwi consumers via an easy application process;
- The home loan offering includes competitive rates and can be applied for online in minutes via the Dosh website or app;
- Dosh is also launching its annual home loan loyalty cashback reward – Dosh Streak – a new kind of loyalty programme in New Zealand.
Leading New Zealand fintech Dosh has launched an innovative new home loan offering, powered by Westpac NZ, that comes with a simple online application process and the potential for customers to get mortgage-free faster.
The Dosh home loan, available to eligible customers via its website and digital banking* app, offers competitive interest rates and includes a new-to-market cashback loyalty programme, Dosh Streak.
Dosh home loans are powered by Westpac NZ, bringing together New Zealand’s local digital-only financial services provider and a trusted banking institution, for the benefit of the Kiwi consumer.
Dosh co-founder and CEO, Shane Marsh, describes this borrowing solution as a “game-changer”, delivering convenience and value at a time when homeowners need it most, while increasing competition in the banking sector.
“This is a first-in-market digital product with two clear customer benefits: great value in the form of great rates and an annual loyalty cashback from Dosh, with the ease and convenience of a digital application,” says Marsh.
“More than 80% of fixed home loans are due to come up for re-fixing over the next 12 months, according to Westpac’s economists, so this couldn’t have come at a better time for many Kiwis to consider our new offering. Our collaborative home-loan offer is also a great opportunity for first home buyers to get onto the property ladder.
“We believe Kiwis deserve the world’s best digital solutions to maximise their financial wellbeing, and we’re proud to be collaborating with Westpac NZ to combine our strengths and bring this product to New Zealand homeowners.”
Westpac NZ Managing Director of Consumer Banking & Wealth, Helen Ryder, says the bank is excited about helping more New Zealanders achieve their home ownership goals.
“We’re continuously looking for ways to deliver the best experience for both aspiring and existing homeowners, in a highly competitive market,” says Ms Ryder.
“Our collaboration with Dosh is another way we’re helping drive innovation in the banking sector, while supporting a fintech to scale up. We see this as a key example of the new types of initiatives that will launch as open banking develops in New Zealand.
Marsh explains that Dosh has been set up as a nimble, digital-only business to allow it to continually offer new experiences to Kiwi customers.
“We’re not a traditional provider. Our digital-only, no-advice approach means Dosh can bring exceptional value to a large number of customers without incurring the normal business costs.
“Each year, Dosh Streak offers homeowners an annual loyalty cash payment, equal to 0.01% of the loan balance, up to a maximum of 0.20%, over the lifetime of your mortgage with Dosh. Streak rewards are exclusively offered by Dosh in addition to any offers, such as up-front cashback, from Westpac NZ. Ultimately this means more cash is returned to customer pockets.
“We see this as an offer that will drive competition, potentially leading to lower rates and savings for Kiwis throughout the country,” says Marsh.
“We’re looking to scale this rapidly to introduce greater benefits and affordability in the home-loan market.
“From today, through the quick-and-easy online application process, Kiwis can unlock great interest rates and, coupled with Dosh Streak, we believe this will bring much-needed value to homeowners in New Zealand.”
Editor’s note: More information on Dosh home loans
- Since 2021, Dosh has been working on providing New Zealand’s digital generation with leading financial services.
- Dosh Home Loans are approved, issued and managed by Westpac New Zealand Limited (“Westpac NZ”) and promoted by Dosh.
- As with all standard home loan applications, eligibility and lending criteria apply and terms and conditions apply.
- Dosh’s online platform allows customers to apply in minutes.
- Dosh has submitted its application to the RBNZ to become a digital-only registered NZ bank*.
- Dosh is not a financial advice provider and offers a no advice model. Customers are encouraged to seek independent financial advice and support to help them on their home ownership journey.
- Dosh is focused on doing good for Kiwis, delivering the best digital solutions that enhance Kiwis’ financial well-being.
* Dosh is not a registered NZ bank. Dosh is a brand of MCA Investments Limited, a registered company in New Zealand (NZBN 9429048713511), and a registered financial services provider (FSP1000801).
About Dosh
Dosh is a digital-first banking* entrant bringing competition and innovation to New Zealand’s financial sector. Applying to RBNZ to become the country’s first locally-owned, digital-only registered NZ bank*, Dosh is on a mission to bring the world's best solutions to NZ to maximise the financial wellbeing of Kiwis. By eliminating costs, its agile model enables smarter, cost-effective solutions and rapid adoption of technologies like AI. Visit dosh.nz for more information.