Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

AMP increases variable rates

amp logo  x

amp logo  x
James Mitchell 1 minute read

Another non-major lender has announced it will increase its variable home loan rates.

Advertisement
Advertisement

PROMOTED FEATURES


>AMP Bank will increase rates on variable owner-occupied loans by 0.18 per cent.

In addition, the bank announced that the bonus rate on the AMP Saver account for new accounts will be increased by 0.20 per cent to 3.05 per cent per annum.

AMP said in a statement that it remains committed to recommencing investor property lending in 2015.

All interest rate changes are effective from 20 November.

Bankwest announced last week that it will be increasing its variable home loan rates by 18 basis points, effective 17 November. This will take the bank's standard variable rate to 5.65 per cent, and its investor variable rate to 5.97 per cent.

Meanwhile, ME announced last week that it will raise its variable home loan rates by 20 basis points, effective 20 November. This will take put the bank’s Flexible Home Loan variable reference interest rate at 5.08 per cent (with a comparison rate of 5.09 per cent).

AMP increases variable rates
amp logo  x
TheAdviser logo
amp logo  x
James Mitchell

James Mitchell

James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.

He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.

He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.

James holds a BA (Hons) in English Literature and an MA in Journalism.

 

 

more from the adviser
remuneration money Conflicted remuneration defined in new regulations

The federal government has released final regulations that define...

empty wallet COVID-19 erodes FHB deposit savings: MyState

Nearly a quarter of those Australians who have dipped into their ...

signatories f6bb COBA welcomes closer ties between regulators

The association for customer-owned banks has said that the MOU be...

FROM THE WEB