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Homeloans lowers rates on full-doc products

Reporter 1 minute read

Homeloans has cut rates for two of its full-doc home loan products by up to 35 basis points, just over a month after reducing rates for its fixed-term products.

The variable rate for Homeloans Ultra Plus loans with a maximum LVR of 80 per cent will now start at 4.14 per cent, with a comparison rate of 4.50 per cent.

Meanwhile, the variable rate for Homeloans Ultra loans with a maximum LVR of 80 per cent will start at 4.29 per cent, with a comparison rate of 4.33 per cent.

Ray Hair, Homeloans’ general manager of sales, said the reduced rates are good news for all borrowers, and reinforce the lender’s commitment to owner-occupiers.

“Housing affordability is an ongoing challenge for consumers, and we are pleased to provide an additional discount to these borrowers,” he said.

“Providing well-considered solutions to suit different types of borrowers is what we pride ourselves on.”

Homeloans’ rate announcement comes after Resimac, Firstmac and AMP all reduced rates following the Reserve Bank’s May rate cut.

[Related: Homeloans keeps rate cuts coming]

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