Heritage Bank increases fixed rates for investors; UBank reduces variable rates

0

A lender reduced its variable interest rate by 75 bps.

The announcement of the Australian Prudential Regulation Authority’s decision to increase the interest rate cushion for mortgage applications highlighted the impact the service rules could have on borrowers with low mortgage rates. higher interest.

Here are some of the lenders who have changed their mortgage offers over the past week:

UBank

UBank lowered its variable rate for owner-occupiers paying principal and interest (P&I) by 15 basis points (bps) as part of its UHomeLoan product.

New variable rates will apply to loan applications with LVRs of 80% and 85%. UBank waives Lender Mortgage Insurance (LMI) for borrowers who take out 85% LVR loan

Here are the new rates:

  • UHomeLoan variable rate 80% LVR – 2.19% per year (comparison rate of 2.19% per year)
  • UHomeLoan variable rate 85% LVR – 2.34% per year (comparison rate of 2.34% per year)

The change follows its decision in August to lower its variable interest rate for new investors.

Heritage Bank

Client-owned Heritage Bank has increased its fixed investment rates by 10 basis points under Standard and Home Advantage mortgage products.

  • Fixed P&I investment 1 year – 2.49% per year (comparison rate 4.94% per year)
  • 1 Year Fixed IO Investment – 2.59% pa (comparison rate 4.96% pa)
  • Fixed P&I investment 2 years – 2.49% per year (comparison rate of 4.72% per year)
  • 2 Year Fixed IO Investment – 2.59% pa (4.76% pa comparison rate)
  • Fixed P&I investment 3 years – 2.59% pa (comparison rate 4.54% pa)
  • 3 Year Fixed IO Investment – 2.69% per year (comparison rate of 4.59% per year)
  • Fixed P&I investment 5 years – 3.09% per year (comparison rate of 4.39% per year)
  • 5 Year Fixed IO Investment – 3.29% pa (comparison rate of 4.49% pa)
  • Home Advantage Fixed P&I Investment 1 year 150k + – 2.49% pa (3.30% pa comparison rate)
  • Home Fixed IO Investment Advantage 1 Year 150k + – 2.59% pa (comparison rate of 3.44% pa)
  • Home Advantage Fixed P&I Investment 2 years 150k + – 2.49% pa (comparison rate of 3.26% pa)
  • Home Advantage Fixed IO Investment 2 Years 150k + – 2.59% pa (comparison rate of 3.40% pa)
  • Home Advantage Fixed P&I Investment 3 years 150k + – 2.59% pa (comparison rate of 3.25% pa)
  • Home Advantage Fixed IO investment 3 years 150k + – 2.69% pa (3.38% pa comparison rate)
  • Home Advantage Fixed P&I Investment 5 years 150k + – 3.09% per year (comparison rate of 3.39% per year)
  • Home Fixed IO Investment Advantage 5 Years 150k + – 3.29% per year (comparison rate of 3.54% per year)

Bank Australia

Customer-owned Bank Australia has reduced a range of its variable rate mortgage offerings as part of Basic and Premium products.

Homeowner loans have seen their rates cut by 20 basis points, with the exception of LVR levels of

Here are some of the changes:

  • Basic mortgage – down from 20bps to 2.5% pa (comparison rate of 2.34% pa)
  • Basic mortgage – down from 10bps to 2.8% pa (comparison rate of 2.84% pa)
  • Premium package – down from 20bps to 2.5% (comparison rate of 2.89% pa)
  • Premium package – down from 10bps to 2.8% (comparison rate of 3.19% per year)
  • Core investment loan P&I – down from 10bps to 2.8% (comparison rate of 2.84% per year)
  • Basic IO investment loan – down from 10bps to 3% (comparison rate of 2.91% per year)
  • Premium P&I investment package – down from 10bps to 2.8% (comparison rate of 3.19% per year)
  • Premium IO investment package – down from 10bps to 3% (comparison rate of 3.22% pa)

Illawara Credit Union

New South Wales-based Illawara Credit Union has made substantial changes to its exclusive homeowner interest rates as part of its The Works Package product.

  • The 1 Year Fixed IO Housing Loan Work Package – down from 29bps to 2.5% (comparison rate of 3.22% pa)
  • The IO Variable Housing Loan Works Package – down from 75bps to 2.5% (comparison rate of 3.01% pa)

Photo by Louis Hansel on Unsplash.


Source link

Share.

Comments are closed.