State Custodians Mortgage Company has joined the growing list of lenders to remove its exit fees before the government deadline.
Late last week the company announced it would pre-empt the government regulations and remove the exit fees on its Standard Variable, Breathe Easy and Line of Credit loans.
Heidi Armstrong, director of State Custodians said the company was “embracing the changes that are taking place and are ensuring that they result in a genuine ‘win’ for clients”.
“It’s important for us to keep our clients’ interest at the forefront,” Ms Armstrong said.
The company’s standard variable rate of 6.79 per cent now boasts no entry fees, no ongoing fees and no exit fees.
In addition, clients that stay in their loan for more than five years will enjoy a loyalty bonus in the form of a 20 basis point interest rate reduction.