Lender announces 50bp rate cut

by Maya Breen23 Feb 2015
Liberty has slashed variable rates in both its Prime and Custom home loan range.
 
Specialty finance group Liberty Financial has doubled the RBA rate cuts, taking 0.50% off the variable rates of their prime and custom home loans.
 
The cuts see their prime rates starting from 4.39% while their custom rates have been reduced to 4.99%, placing Liberty at the forefront of competitive pricing for new residential mortgage customers.
 
Liberty Financial national sales manager John Mohnacheff says after researching the market, he didn't believe brokers and customers were getting the best offer.
 
“So rather than just pass on the minimum reduction and make it effective sometime later this month, we will give our business partners the reduction they deserve,” said Mohnacheff.
 
Liberty fixed rates have also been reduced with the one year fixed rate dropping to 4.29%, while the two and three year fixed rates dropped to 4.39% respectively.
 
“We’re confident that this new pricing, combined with the market leading service and innovative product range that Liberty is famous for will ensure we remain the perfect partner for many brokers in 2015,” said Mr Mohnacheff.
 
Liberty’s rate changes were made effective 19 February 2015.
 

COMMENTS

  • by Mortgage broker 23/02/2015 1:10:59 PM

    Not sure I have seen 0.50% rate reduction in the Liberty Custom product.