Home loan

Macquarie lowers mortgage interest rates

The cuts were broad and varied, including a 30 basis point cut for borrowers with larger deposits, in an otherwise quiet week for rate changes.

The home loan with the largest rate drop was the basic variable product for homeowners, paying interest only, with a loan-to-value ratio of 60%.

It was lowered by 30 basis points to 2.59% pa (comparison rate of 2.59% pa *).

In total, there were around 30 individual rate changes, but a handful of other reductions included:

  • Basic variable Owner Occ P&I 60%: Decrease of 15 basis points to 2.14% pa (comparison rate of 2.14% pa *)
  • Basic variable Owner Occ P&I 80%: Decrease of 15 basis points to 2.24% pa (comparison rate of 2.24% pa *)
  • P&I 60% base variable: 10 basis points reduced to 2.29% pa (comparison rate of 2.29% pa *)
  • P&I 80% base variable: 10 basis points reduced to 2.49% pa (comparison rate of 2.49% pa *)

A remarkable feature of these home loans is that the comparison rates are the same as the advertised rates – this implies that there are little or no additional fees or other costs associated with the home loan.


Elsewhere, the week was fairly calm on the mortgage front, especially for rate cuts.

Vic Bank introduces a new 2-year variable introductory rate mortgage for owner-occupiers.

The rate is 1.95% pa (comparison rate of 2.92% pa *).

Newcastle Permanent reduced its “Real Deal” home loan as a special offer for homeowners with 80% LVR paying P&I.

The rate is 10 basis points lower, now at 2.49% pa (comparison rate of 2.53% pa ​​*).

During this time, Heritage Bank raised rates on a handful of products by 10 basis points. Some included:

  • Residential Fixed 3 Years: Now 2.29% per annum (compare rate of 4.07% per annum *)
  • Residential Fixed 5 Years: Now 2.69% pa (compare rate of 3.91% pa *)
  • 3 Year Fixed Investment: Now 2.49% pa (comparison rate 4.51% pa *)
  • 5 Year Fixed Investment: Now 2.99% pa (4.35% pa * compare rate)

Heritage Fixed Rate Home Loans are for borrowers with up to 90% LVR.

The reason for the difference between the advertised rate and the comparison rate is due to an application fee of $ 600 and a loan service fee of $ 8 per month, while the return rate can also be taken into account. account.


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Buying a home or looking to refinance? The table below shows home loans with some of the lowest interest rates on the market for homeowners.

Lender

Rate type Gap Redraw Ongoing charges The initial costs LVR Lump sum reimbursement Additional refunds Pre-approval
Variable More details
LIMITED TIME OFFER

Smart Booster real estate loan at variable discount rate – 2 years (LVR
  • Fast turnaround times, can meet a 30 day settlement
  • For purchase and refinancing, minimum deposit of 20%
  • No ongoing or monthly fees, add compensation for 0.10%

Variable More details
100% FULL ACCOUNTNO APPLICATION FEES OR CURRENT FEES

Low rate home loan – Premium (principal and interest) (owner occupied) (LVR
  • No upfront or ongoing costs
  • 100% clearing account
  • Additional refunds + reprint services

Variable More details
REFINANCING IN MINUTES, NOT WEEKS

Nano Home Loans Variable Owner Busy, Principal and Interest (Refinancing Only)

  • Refinancing only. Fast online application
  • No Nano fees. 100% free sub-account clearing
  • Mobile app, Visa debit card and instant payments
Variable More details
YOU COULD WIN $ 100,000 TO REPAY YOUR LOAN *

Owner Occupant Accelerate – Celebrate (LVR

  • For a chance to win $ 100,000 for your home loan, apply to Athena before October 31 and get approved by December 15
  • We reduce your rate based on the amount you have repaid on your loan
  • Automatic rate matching

Owner Occupant Accelerate – Celebrate (LVR
  • For a chance to win $ 100,000 for your home loan, apply to Athena before October 31 and get approved by December 15
  • We reduce your rate based on the amount you have repaid on your loan
  • Automatic rate matching

Variable More details
EASY ONLINE REQUEST

Garden mortgage (principal and interest) (special) (LVR
  • Unlimited additional refunds
  • Unlimited free withdrawals
  • Optional 100% compensation can be added for $ 120 per year ^


Photo by VirtualWolf on Unsplash

The entire market was not taken into account in the selection of the above products. Instead, a smaller part of the market has been envisioned, which includes the retail products of at least the Big Four Banks, the Top 10 Customer-Owned Institutions and Australia’s largest non-banks:

Products from some vendors may not be available in all states.

In the interest of full disclosure, Savings.com.au, Performance Drive, and Loans.com.au are part of the Firstmac group of companies. To learn more about how Savings.com.au handles potential conflicts of interest, as well as how we are paid, please click on the links on the website.

*The Comparison rate is based on a loan of $ 30,000 over 5 years. Please note: this comparison rate is only true for this example and may not include all fees and charges. Different terms, fees, or other loan amounts may result in a different comparison rate.


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