Homeloans reduces interest rates
By
Tim Neary
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26/02/2010 12:00:00 AM
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Mortgage manager Homeloans Ltd has announced the reductions in interest rates on its flagship range of Premium home loan products.
Effective Monday 1 March, both fixed and variable rates for the Homeloans Premium Full Doc range of products is being reduced by 10 bps for new borrowers with an LVR of 65% or less.
This sees it now offering rates as low as 5.74%.
"This initiative helps to firmly position Homeloans as the competitive alternative, and allows brokers to better harness growing anti-bank consumer sentiment," said Tony Carn general manager for third Party distribution at Homeloans.
In addition the non-bank lender has announced further reductions to its Premium Lo Doc rates, to as low as 6.19% for LVRs of 60% or less.
No minimum loan size is applicable to qualify for either the Full Doc or Lo Doc discount.
"We know borrowers who consult brokers are seeking a solution from a range of lenders, both bank and non bank. These initiatives allow all brokers the opportunity to ensure their customers have access to a wider range of very competitive products," said Carn.
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