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.

Fixed rates fall at Iden Group

Staff Reporter 1 minute read

Iden Group is the latest in a long line of lenders to have cut its fixed rates in recent weeks.

Last week the lender announced it would reduce its three year full doc fixed rate to 6.97 per cent, while its three year lo doc product was reduced to 7.97 per cent.

The company’s director Barrie Gaubert said the Reserve Bank’s impending rate announcement was the driving factor behind the decision to reduce the rate on its fixed rate products.

“Financial news sources are tipping an increase of 0.25 per cent at the March Reserve Bank meeting and more to follow over the course of 2010,” Mr Gaubert said.

“Iden Group recognizes that the 1 per cent plus ‘gap’ that has existed between fixed rates and variable rates over the past 6 months or so is now narrowing, and our three year fixed rate offer at 6.97 per cent compares favourably with the average standard variable rate of 6.63 per cent,”

Mr Gaubert said now was the ideal time for borrowers concerned about rising interest rates to lock their mortgage repayments in under a fixed rate product.

Fixed rates fall at Iden Group
default
TheAdviser logo
default

 

more from the adviser
mortgage payments money Quiet January period hammers mortgage activity

NSW has led the states in a steep fall in mortgage market activit...

cars ta Nodifi expands into novated leasing

The asset finance platform has released a novated leasing service...

handshake 2 AFG adds specialist lender to lender panel

The aggregation group has appointed a specialist lender to its as...

FROM THE WEB