Website Notifications

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

Lender cuts rates below 4%

percentage drop  x percentage drop  x
James Mitchell 4 minute read

A Queensland-based lender has announced a new discount offer on its home loan products.

QPCU (previously Queensland Police Credit Union) has announced a new discount offer on its Classic Home Loan, with a new rate effective Tuesday 8 December.

The 3.97 per cent Classic Home Loan discount offer is valid for new lending, principal and interest loans of more than $150,000.

Features include a comparison rate of 3.98 per cent with no upfront fees. The rate is not available on interest-only mortgages.


It follows QPCU’s announcement of a 3.89 per cent three-year fixed rate home loan last month.

QPCU executive manager of sales and distribution Lee Slattery said the new rates show QPCU is aiming to give brokers a real alternative.

“We believe having market leading rates like our new variable rate offer and existing fixed rate offer, helps brokers talk to their customers about making the move to QPCU,” he said.

Earlier this month, members of the group voted overwhelmingly in favour of removing the term ‘credit union’ from the company’s name.

Nearly 90 per cent of voting members approved the change from Queensland Police Credit Union Limited to QCPU Limited at the lender’s annual general meeting.


The move allows QPCU to apply through APRA to use the term ‘bank’ in a new trading name.

[Related: QPCU announces name change]

Lender cuts rates below 4%
percentage drop  x
TheAdviser logo

Grow your business exponentially in 2022!

Discover the right strategies to build a more structured, efficient and profitable businesses at The Adviser’s 2022 Business Accelerator Program.

Visit the website here to secure your ticket.

percentage drop  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
tech tools

Breaking News

FICO launches new loan-origination platform

The US analytics company has launched a new digital loan originat...

Liberty A League partnership ta

Breaking News

Liberty scores A-League Women’s football naming partnership

The non-bank lender has become the official naming partner of the...

house sold

Breaking News

Hot Property: The biggest property headlines from the week 29 November - 3 December

The weekly round-up of the biggest news stories from across Momen...