Non-bank trims variable rates below 6%

by Adam Smith22 Jun 2012

A non-bank has made cuts to its variable rates, dropping one product below 6%.

Liberty Financial has announced it has cut its variable rates by 20bps. The move brings its Liberty Sharp basic variable product to 5.99%. The lender also made cust to fixed rates, dropping rates by up to 25bps.

Liberty national sales manager John Mohnacheff said the lender offered a compelling proposition for brokers, citing the lender's service levels and "nationwide network of business development managers, direct access to our experienced underwriting team, same day answers to applications and very competitive remuneration".

The rate cuts were effective from 19 June, and will apply to all new and existing business with the lender.