Elite Auckland Marathon runners leave the start at Devonport yesterday. Photo / Greg Bowker
Elite Auckland Marathon runners leave the start at Devonport yesterday. Photo / Greg Bowker
Selected runners have mortgage rates slashed, depending on how quickly they finished.
The Auckland property market had left 30-year-old Peter Sygrove "stretched to the eyeballs" after he and his partner bought their first home in mid-October.
But now, with a two-year interest rate of 2.48 per cent, things are looking up for the young lawyer.
Mr Sygrove was one of 10 Auckland Marathon runners selected to "run down his rate" through a promotion by ASB Bank after he entered the race "on a whim" ahead of this month's Queenstown Marathon.
He will now pay less than half his original interest rate, of 5 per cent, for two years after he finished the 42km slog in the speedy time of 2h 48m..
That means he and his partner, who works for World Vision, will be able to pay off their $500,000 loan for their three-bedroom Sandringham home - which has a CV of $920,000 - a lot faster than they'd anticipated.
"It's pretty much like winning Lotto," he said.
Peter Sygrove and partner Juliette Simm celebrate at their Sandringham home after Peter slashed their home loan rate in the marathon. Photo / Dean Purcell
Mr Sygrove's initial goal for the run was 3h 15m. However, when he was accepted as a run-down-your-rate competitor, he thought he'd try to go a bit harder - and slashed his time massively on yesterday's run, with the support of some harrier friends.
"I never expected I'd do such a good time, it's definitely a personal best," he said.
Yesterday's run was Mr Sygrove's fourth marathon. His first was the Auckland Marathon just after the last Rugby World Cup.
The rugby fan said the result at Twickenham was also ideal - though at first he was worried the All Blacks may have lost.
"I heard a blast over a radio saying the All Blacks had knocked on and Australia had a chance of winning, then when I ran over the Harbour Bridge I thought everyone looked a bit forlorn, and I was convinced we'd lost."
But at about the 18km mark he heard the team had won, which he said gave him a huge boost.
The first woman across the finish line in yesterday's marathon was Wellington's Katie Kemp, a mother of three who finished the race in 2h 42m.
Ms Kemp was also a run-down-your-rate competitor, which meant the interest rate on her home would drop to 2.42 per cent.
As a stay-at-home parent she said she was pleased with the result - a personal best - and the new rate.
"I have three girls aged 7, 5 and 4, and we have chosen to have a parent stay home - which does come with financial challenges on one income," she said.
"I've worked so hard, I'm so thrilled."
As many of the runners crossed the harbour bridge, they were met by elated rugby fans announcing the All Blacks' World Cup victory.
