Allstate has announced the launch of a ‘spring special loan’, offering a rate of 4.77%p.a. variable (comparison rate 5.19%), effective immediately.
The non-bank lender’s national sales manager, Greg Strachan, says Allstate’s funders are pleased to be able to pass savings onto borrowers as the market continues to improve.
“We believe this rate is 20pts lower than any discounted rate being offered by the four major banks. That, coupled with our excellent service certainly makes it a winner for both brokers and their customers,” says Strachan.
“It is also proof that the non-banks are now throwing down the gauntlet to the majors to win back their lost market share.”
The new product available for loans up to 80% LVR, owner occupied or investment of $150,000 or more.