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Homeloans keeps cutting rates

by Staff Reporter9 minute read
The Adviser

Homeloans has made another round of rate cuts and has also unveiled a new policy option for medical professionals.

The non-bank lender has reduced the fixed rates on its Optima product by up to 10 basis points.

One-year Optima loans have fallen from 4.78 to 4.68 per cent, while two-year loans have fallen from 4.83 to 4.78 per cent.

Homeloans has cut 10 basis points from the other Optima fixed rates, with three-year rates now priced at 4.88 per cent, four-year rates at 5.18 per cent and five-year rates at 5.28 per cent.


It comes after Homeloans reduced its variable rates by up to 20 basis points last week.

Optima is available up to 95 per cent LVR inclusive of LMI for both owner-occupied and investment purchases.

It comes with a 100 per cent offset account, free upfront valuations up to $2 million and a family pledge option.

Homeloans has also launched a special medico policy on the Optima product, which allows up to 90 per cent LVR with no LMI for selected medical professionals.

General manager of sales Ray Hair said Homeloans understands that doctors and other health professionals often have unique circumstances.

"We anticipate strong demand for this niche product. It's further evidence of our commitment to develop new products and features to satisfy different credit situations," he said.

"And while we have a comprehensive product range catering to many scenarios, they are all covered by the one application form."

[Related: Homeloans recruits fifth BDM in three months]

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