The mutual bank has announced reductions of up to 102 basis points on fixed rates for new borrowers, with some products seeing a decrease of 10 basis points.
Teachers Mutual Bank Ltd – which includes Teachers Mutual Bank, UniBank, Health Professionals Bank and Firefighters Mutual bank – has announced changes to fixed rate products for new customers across the group’s divisions.
The revisions have been made across loan products for both owner-occupiers and investors, and are applicable to principal and interest (P&I) and interest-only (IO) loans.
As of 4 December, rate changes for new owner-occupiers making P&I repayments are as follows:
Changes for new owner-occupiers making IO repayments are as follows:
Rates for new investors making P&I repayments are as follows:
Changes for new investors making IO repayments are as follows:
All other home loan interest rates remain unchanged.
Any applications that have already been approved for the above products but have not yet been funded will automatically have the new rate applied on funding.
[Related: TMB reduces fixed and variable rates]
Hannah Dowling is a journalist for The Adviser and Mortgage Business.
Prior to joining Momentum Media, Hannah worked as a content producer for a podcast catering to property investors. She also spent six years working in the real estate sector at a local agency.
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