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Mortgage group unveils record low rate

Nick Bendel 1 minute read

LJ Hooker Home Loans has made a cut of 35 basis points to its white-label product.

The Leveredge product now starts from 4.29 per cent for owner-occupiers, down from 4.64 per cent.

The 35-point rate cut comes after the Reserve Bank reduced the official cash rate by 0.25 per cent earlier this month.

Head of home loans Paul O’Regan said many lenders had responded to the Reserve Bank decision by making only a 20-point cut, holding back the other five because of margin pressures.

Mr O’Regan told The Adviser that LJ Hooker Home Loans was acknowledging the growing rise in investor activity and the low market share of first home buyers.

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“We have done this to assist our real estate partners in providing a great product option to their owner-occupier clients, and to help alleviate some of the stress being experienced by people wanting to enter the property market,” he said.

“We hope the assistance from us with a record low LJ Hooker Home Loans variable rate will give more people the ability to enter the property market.”

[Related: Connective launches white-label products]

Mortgage group unveils record low rate
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