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Non-bank undercuts majors

by Staff Reporter8 minute read
The Adviser

Staff Reporter

Resi Mortgage Corporation has undercut the majors by slashing its two- and three-year fixed rates to new lows.

Resi today announced a round of fixed interest rate cuts, which has resulted in the lender dropping its two- and three-year fixed rates by 0.40 per cent and 0.20 per cent respectively.

Resi chief executive, Angelo Malizis, said the rate cuts take its two- and three-year fixed rates to 4.99 per cent, providing an invaluable boost for the company’s expanding franchise network.

“These rates will be offered until Christmas and are the ideal opportunity for those looking for certainty in their repayments, whilst receiving the benefits of low interest rates. But just as importantly, it provides another substantial incentive for franchisees in the all-important lead up to Christmas,” he said.

Mr Malizis said the timing would be beneficial for borrowers heading into Christmas because even someone refinancing from a standard variable rate will immediately gain savings. Borrowers will also enjoy the security of knowing their rate is locked in for a set period of time.

“This can be all the more attractive in the face of the current uncertainty in the industry, where debate continues over the precise direction of rates for the year ahead,” he added.

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