Get notifications in real-time for staying up to date with content that matters to you.
The challenger brand has announced that it has increased the variable interest rates for owner-occupiers and investors taking out a new Reward Me Home Loan with interest-only repayments.
Effective from today (16 June), owner-occupiers borrowing between $75,000 and $499,999, with a loan-to-value ratio (LVR) of less or equal to 70 per cent, and making interest-only (IO) repayments on a new Reward Me Home Loan will pay 4.14 per cent per annum. This constitutes a 25 basis point increase.
A 25-basis point increase also applies to owner-occupier IO loans with the same LVRs for borrowings of between $500,000 and $749,000 (to 4.09 per cent), and for those borrowing more than $750,000 (to 4.04 per cent).
Investors taking out IO Reward Me Home Loans will, from today, be subject to the same level of rate hike.
Those borrowing between $75,000 and $499,999, with an LVR of less or equal to 80 per cent, will pay 4.44 per cent per annum, while investors with the same LVRs but paying between $500,000 and $749,999 will have repayments set at 4.39 per cent.
Investors borrowing more than $750,000 with an LVR of less or equal to 80 per cent will from today have repayments of 4.34 per cent per annum.
[Related: Lender launches frequent flyer offer for home loan customers]
A $54.5 million package has been launched in the state to support...
The mutual bank has upgraded its ApplyOnline package to help deli...
The ASX-listed lender has declared that it will roll out a new po...
Join Australia's most informed brokers
Do you know which lenders are providing brokers and their customers with the best service?
Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!
The number one magazine for mortgage brokers
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Do you charge fees for mortgage writing services?
