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Non-bank slashes 65bp off fixed rate

by Staff Reporter7 minute read
The Adviser

Staff Reporter

Homeloans has become the latest in a long list of lenders to slash the interest on its fixed rate products.

Effective from today, the lender will cut up to 65 basis points from its one, two, three, four and five year ProSmart fixed rate home loans.

According to an internal company announcement, the lender will now provide borrowers with a two and three year fixed rate of just 6.99 per cent, while its four and five year rates sit at just 7.34 per cent and 7.44 per cent respectively.

Homeloans’ decision to slash the interest on its fixed rate products follows similar announcements by CBA, Westpac, St George, Mortgage EZY, ING DIRECT to name a few.

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