loans.com.au cuts rates for owner-occupiers

Posted: 12 February 2018 10:49 am
News
dice percent2

dice percent1Non-bank lender loans.com.au has dealt a deep rate cut to owner occupiers and some investors.

The lender has announced rate changes across a range of products, with rates falling by 12 basis points for owner-occupiers with the Essentials Variable Principal and Interest Home Loan. Owner-occupiers on the Offset Variable home loan will see a 6 basis point rate cut.

The lender did hike rates on some investor products. The Essentials Variable Investor Principal and Interest home loan and the Offset Variable Investor Principal and Interest home loan will both see rates rise by 0.10%.

LoanOld rateNew rate
Essentials Variable OO P&I3.64%3.52%
Offset Variable - Up to 80% OO P&I3.72%3.60%
Essentials Variable Investor P&I4.09%4.19%
Essentials Variable Investor IO4.39%4.19%
Offset Variable Investor P&I4.17%4.27%
Offset Variable Investor4.47%4.27%

However, loans.com.au cut rates for interest-only investors, bringing its interest-only investment products in line with its principal and interest products. The Essentials Variable Investor Interest-Only was cut by 20 basis points, while the Offset Variable Investor Interest-Only also received a 20 basis point cut.

loans.com.au wasn't alone in handing out rate cuts. People's Choice Credit Union also made a 16 basis point cut to its Home Loan Package Special Offer for owner-occupier principal and interest borrowers with an LVR of 80% or less.

Need a home loan? Start comparing your options

Latest home loans headlines

Image: Shutterstock

Find the right home loan now

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site