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Homeloans cuts rates by 30 basis points

by James Mitchell4 minute read

Homeloans has slashed rates on its prime home loan products by up to 30 basis points.

The non-bank lender today announced that it has cut the rates on its Homeloans FlexiChoice Prime products by up to 0.30 per cent.

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The reduced rate means the Homeloans FlexiChoice Prime is available for owner-occupier loans from just 4.19 per cent, with a comparison rate of 4.54 per cent.

In addition to the rate drop, Homeloans has announced that standard loan applications will not be subject to any establishment fees, with legal and settlement fees and the cost of one valuation being covered by Homeloans.

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“Across our FlexiChoice Prime, lo-doc and specialty product ranges, we continue to provide brokers with flexible and cost-effective solutions to meet client needs,” Homeloans’ general manager of sales, Ray Hair, said.

“Our diverse funding base includes balance sheet and non-balance sheet sources, leading to a wide range of product features and lending guidelines.

“It reinforces our ability to be agile and provide solutions to suit different borrower requirements.”

The FlexiChoice Prime is a fully featured loan with 100 per cent offset with a low rate and low fees. It is also available without LMI up to 85 per cent.

[Related: Westpac announces $1,000 cashback offer for borrowers]

 

Homeloans cuts rates by 30 basis points
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James Mitchell

James Mitchell

AUTHOR

James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.

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