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One non-bank lender has announced a Spring Special Loan offering a variable rate of 4.77 per cent per annum (comparison rate 5.19 per cent per annum variable).
Allstate national sales manager Greg Strachan said the current lending environment has allowed Allstate to offer the lower rate.
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“As the market continues to improve, our funders are pleased to be able to pass these savings onto our customers,” Mr Strachan said, adding that the rate was proof that non-banks were again challenging the major banks to win back their lost market share.
“We believe this rate is 20 points lower than any discounted rate being offered by the four major banks.”
Allstate’s Spring Special Loan is available for owner-occupied or investment loans up to 80 per cent above $150,000 LVR and is available for a limited time only.
