Aussie Home Loans has thrown down the gauntlet to other major lenders by dropping its Select Basic Variable Rate, Standard Variable Rate and Line of Credit loans to their lowest variable carded rate ever for borrowers with a loan to valuation ratio (LVR) of 80 per cent or less.
For loans of less than $500,000 the rate was reduced by 0.04 per cent to 4.84 per cent (comparison rate 4.85 per cent p.a.) – one of the lowest rates in the market for loans of that size and LVR.
Special rates are also available on loans $500,000 to $1 million with a reduction of 0.05 per cent taking the rate to 4.74 per cent (comparison rate 4.75 per cent p.a.), while the rate on loans over $1 million has been reduced by 0.10 per cent to 4.69 per cent (comparison rate 4.70 per cent p.a.)^.
Available for applications* approved in July, the rates include a free online redraw facility, no ongoing fees and waiver of the $100 settlement fee.
Chief Executive Officer of Aussie Home Loans, Ian Corfield, said “We are continuing to challenge the major lenders with our competitive rates, which should provide a good saving for our customers.
“These rates match or beat the lowest advertised variable rates offered by Aussie’s panel of up to 19 lenders, including the big banks, and they’re available to all borrowers including first home buyers, next home buyers, refinancers and investors”, Corfield added.
Aussie’s 860 mortgage brokers across Australia are available to help customers secure the new rates, as well as search their lender panel to find an appropriate loan to suit each borrower’s needs, income and aspirations.
Aussie now has a loan book of over $50 billion, and is currently settling more than $1 billion worth of loans across its panel each month.
Further information about Aussie Select and other home loan advice can be obtained by calling Aussie on 13 13 33 or visit www.aussie.com.au to book an obligation free appointment.