Queensland-based
Auswide Bank has announced newly discounted variable and fixed rates for several home loan products.
The offers, which come just over a month after
the bank previously adjusted its rates, are available for new residential owner-occupied and investment home loans for purchase or refinance.
For owner-occupiers, the offer includes a discounted variable rate of 3.79% p.a. with a ‘life of loan’ discount of 1.54% p.a. off the bank’s standard variable reference rate. It is available on new principal & interest mortgages of $150,000 or more with loan-to-valuation ratios (LVRs) of up to 90%. Pre-approvals, interest-only loans, construction and non-residential lending are all excluded.
Owner-occupiers can also opt for a discounted 3-year fixed rate of 3.89% p.a.
For investment lending, Auswide is offering a discounted variable rate of 3.99% p.a. with a ‘life of loan’ discount of 1.73% p.a. off the standard variable reference rate. This is available on new principal & interest or interest-only mortgages of $150,000 or more with LVRs of up to 90%. Preapprovals, construction and non-residential lending are excluded.
Investors can also take advantage of a 3-year fixed rate of 4.05% p.a. on residential property.
“At Auswide Bank we are serious about making a big difference and demonstrating the power of a small lender,” said
Damian Hearne, chief customer officer.
The bank was keen to shake up the market, he added, pointing to the one-of-a-kind
RBA rate tracker home loan which was
launched in October last year.
“Now it’s 2017 and we’re excited to lead with significant discounts on our Freedom Package home loans. These special interest rate offers are available on new home loans or for borrowers seeking a better deal from another lender.
“Simply compare these rates to the ‘big banks’ and you can see that they are some of the strongest offers in the market.”
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