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Macquarie and ING announce rate changes

by Reporter3 minute read
rate changes

The two lenders have made a broad range of changes to interest rates offered on their home loans.

For owner-occupier, principal and interest loans, Macquarie Bank has introduced the following changes, with rates starting from:

  • 3.69 per cent for variable rates
  • 3.88 per cent for fixed rates
  • 4.14 per cent for variable rates on interest-only loans
  • 4.09 per cent for fixed rates on interest-only loans

Macquarie has also made changes to rates on investment loans, starting from:

  • 3.88 per cent for variable rates
  • 3.99 per cent for fixed rates
  • 4.29 per cent for variable rates on interest-only loans
  • 4.24 per cent for fixed rates on interest-only loans

Further, Macquarie has introduced changes to rates on SMSF loans, starting from:

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  • 5.90 per cent for variable rates on principal and interest loans
  • 6.37 per cent for variable rates on interest-only loans

Macquarie’s rate changes will apply for loans issued on or after 19 February 2018.

Meanwhile, ING has also announced changes to interest rates on its loan offerings. For owner-occupied loans, rates now start from:

  • 3.69 per cent for variable rates
  • 4.09 per cent for variable rates on interest-only loans

Moreover, ING’s new rates on investment loans start from:

  • 4.24 per cent for variable rates
  • 4.69 per cent for variable rates on interest-only loans
  • 4.32 per cent for fixed rate loans

ING’s new rate offerings will be applied on loan applications processed from 16 February 2018.

[Related: Investors should be renegotiating rates, says Aussie broker]

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