A non-bank lender has reduced its home loan rates to as low as 3.99 per cent as part of the latest interest rate movements.
Mortgage Ezy announced that its variable rate has been cut to 3.99 per cent, with a comparison rate of 4.12 per cent.
The non-bank is also offering a three-year fixed rate of 4.19 per cent, with a comparison rate of 4.17 per cent.
Mortgage Ezy shocked the market in December last year by launching a new home loan product with a 4.34 per cent variable rate.
Chief executive Peter James said it was an ongoing rate that was only available through brokers.
“Brokers have been saying they are under pressure from many internet providers and we want to put the pound back in the brokers' hands,” he told The Adviser.
“We're fully committed to the broker channel, as we always have been, and we need to watch this space because there is certainly more innovation and sharp rates to come.”
[Related: Mortgage Ezy launches no-fee loan product]
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