Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
BOQ lifts investor rates beyond 6%
Powered by MOMENTUM MEDIA

Website Notifications

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

BOQ lifts investor rates beyond 6%

James Mitchell 2 minute read

BOQ has announced mortgage pricing changes that will see its investor home loan rate rise above 6 per cent.

BOQ today announced it will increase interest rates on its variable home loan products by 0.18 per cent.

The increase will see the bank’s Clear Path variable rate home loan lift to 4.60 per cent and the standard variable rate home loan for owner-occupiers move to 5.74 per cent.

BOQ’s standard variable rate home loan for investors will increase to 6.03 per cent

Matt Baxby, BOQ’s group executive retail banking, said the decision was driven by the need to balance growth, risk and margins over the longer term.

Advertisement
Advertisement

“Standardised banks like BOQ still carry much higher funding costs and capital requirements than the major banks and we need to get the balance right between sustainable growth over the longer term, risk and margins,” Mr Baxby said.

“These are always difficult decisions but on balance we believe it is the right one in the current environment.

“The more resilient and financially strong that standardised banks are, the more we can compete on a range of fronts including further investment in our customer-facing systems and processes.”

The new rates will be effective from 20 November 2015.

BOQ lifts investor rates beyond 6%
default
TheAdviser logo
default
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.

 

FROM THE WEB
more from the adviser
NAB announces new CEO

National Australia Bank has appointed the CEO of Royal Bank of Sc...

‘Stick to what you know’: Associations hit back at CHOICE

The FBAA and MFAA have slammed consumer group CHOICE for its “d...

Peer-to-peer lender joins AFG panel

RateSetter has joined the panel of aggregation company AFG, givin...