Australia’s largest customer-owned bank has announced a range of interest rate cuts across its variable and fixed rate mortgages.
Heritage will cut its fixed rate loans by up to 0.3% and variable rates by up to 0.10% for new borrowers, effective tomorrow, 6 August.
CEO Peter Lock said the bank will ensure its rates stay competitive as it prepares to open two branches in Sydney later this year.
“We have just announced that we are expanding our branch network outside of Queensland for the first time with branches to open in Castle Hill and Parramatta later in 2019,” he said.
“The Sydney housing market is expensive so we want to offer potential customers in New South Wales competitive rates to help them afford to buy a place of their own.
“We are driven to help people achieve their financial goals and I encourage anyone in Sydney looking for finance to purchase a house to speak with us or a mortgage broker to discuss what Heritage can do for you,” he added.
The lowest rate now available on a new variable rate home loan at Heritage is 3.32%.
Lock said, “We recognise that we need to offer even more competitive rates to provide better value for customers.
“We are confident that our customers will appreciate these rates, coupled with our great service and mortgage product features, like online redraw and unlimited repayments on fixed rate loans.”
