Aussie home loans applauds Reserve bank decision to cut rates

Tuesday, 1 November 2011

Australia’s leading non-bank lender, Aussie Home Loans, today applauded the Reserve Bank for cutting official interest rates by 0.25 per cent to 4.5 per cent.

"The rate drop, while overdue,  is great news for home owners and buyers, who have been doing it tough lately. Finally the Reserve Bank has realised it needed to inject some much needed confidence back into consumers", Aussie's Founder and Executive Chairman Mr John Symond said.

“We are heading into the crucial Christmas retail season and the rate drop will boost sales and the rest of the economy. Australia continues to be susceptible to economic shocks from overseas and I believe there is room to cut rates further over the next six months”, he added.

As one of the country’s largest non-bank providers of financial services, Aussie has a loan book of more than $40 billion, with more than 700 brokers across the country.

An Aussie broker will offer guidance, assess eligibility, lodge the application and then support the borrower through the home loan process. Aussie brokers are available seven days a week in your home or at one of our 140+ stores at the request of customers who call Aussie on 13 13 33.

For further information please call:

John Symonds
Aussie
(02) ) 8297 0702

Brooke Stoddart
Aussie
(02) 8297 0381

Tim Allerton
City PR
(02) 9267 4511 or (0412) 715 707