All three Teachers Mutual Bank brands (Firefighters Mutual Bank, UniBank, and Teachers Mutual Bank) have announced rates cut across select home loan products.
Rates on the following products have been changed:
- Fixed Option Loan, Owner Occupier, 3 year fixed: cut by 20 basis points to 3.79% p.a.
- Solutions Plus P&I Owner Occupier Home Loan, $250,000-$499,000, LVR 60% or less: cut by 10 basis points to 3.79% p.a.
- Classic Home Loan: cut by 19 basis points to 3.65% p.a.
- Solutions Plus P&I Owner Occupier Home Loan, $150,000-$249,999, LVR 60% or less: cut by 43 basis points to 3.79% p.a.
“These new rates bring us in line with current market expectations and conditions”, said Mark Middleton, head of third party distribution at Teachers Mutual Bank.
These rates are effective from 27 November. The changes to variable rate home loans will affect new business only while changes to fixed rate home loans will apply to both new and existing business.
