Credit union drops variable rate on owner-occupier and investor loans

by Julia Corderoy08 Jul 2015
Gateway Credit Union has dropped the variable and waived the annual fee on its award-winning home loan product, for both owner-occupier and investor borrowers. 

For new applications received between 1 July 2015 and 1 August 2015, Gateway has reduced the variable rate on its Premium Package Home Loan to 4.09% for up to 80% LVR (comparison rate of 4.37%). As part of this promotion, Gateway is also waiving the annual Premium Package fee of $299 in year one.

“Since entering into the broker market more than five years ago, Gateway Credit Union has remained as committed and as passionate as ever about brokers,” Phillip Horder, Gateway Credit Union, senior manager, partnerships & alliances told Australian Broker.

“We’re working hard to build Gateway’s brand awareness, and we see this Gateway Premium Package promotion as another tool in our kit to get brokers and consumers talking about Gateway.”

Gateway’s Premium Package Home Loan promotion is available to both investors and owner occupiers on new loans only. Existing Gateway borrowers must top up their current home loan by at least $50,000 to be eligible for this offer. Approved loans must be funded before 1 November 2015.

Gateway’s variable rate Premium Package Home Loan also comes with all of the extras such as up to 4 free loan splits,  no valuation fee, free 100% loan offset accounts and loan redraw and a fee free visa debit card.