Home loan

The Grande Banque reduces the interest rate on a mortgage to 1.59% per year

On Tuesday, the Greater Bank reduced its owner-occupied “Great Rate” loan, set for two years, to 1.59% per annum (comparison rate of 2.10% per annum *).

The home loan is 20 basis points lower than it was before and is aimed at borrowers in New South Wales, ACT or Queensland.

It has a maximum loan to value ratio of 80%, but those who use a guarantor can borrow up to 110% of the value of the property.

This means that on a $ 500,000 home, borrowers could borrow up to $ 550,000.

This advertised rate represents the lowest in Savings.com.au’s market research, with around 50 other lenders having mortgage products below the 2.00% threshold.

The Greater Bank has also cut a number of other loans by 10 to 30 basis points, both for homeowners and investors, including interest-only loans with similar advertised rates.

Some notable reductions in variable rates have been:

  • Large variable rate 90%: 20 basis points reduction to 2.19% per year (comparison rate of 2.20% per year *)
  • Large variable investor rate 80%: 30 basis points reduced to 2.29% pa (comparison rate of 2.30% pa *)

New fixed rates are available for new loans or existing customers who wish to refinance to a fixed term product.

Greater Bank CEO Scott Morgan said these rates are among the most competitive on offer.

“Where customers can really benefit is in comparison rates, which describe what the customer ends up paying,” Morgan said.

“There are many gimmicks on offer in the loan market, but we have a firm belief that this new rate offering provides long-lasting quality and benefits to new and existing clients. “


Advertising

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 Sandid on Pixabay

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. To be taken into account, the product and the price must be clearly published on the website of the supplier of the product.

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.

*Comparison rate is based on a loan of $ 150,000 over 25 years. Please note that the comparison rate only applies to the examples given. Different loan amounts and terms will result in different comparison rates. Costs such as draw charges and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *