Non-major reduces rates

by Julia Corderoy28 Aug 2015
A non-major has reduced interest rates across variable and fixed home loans for new owner occupier customers.

The AMP Essential Home Loan will be reduced to 4.09%, down from 4.20%.

The Basic variable will be reduced to 4.19%, down from 4.50%

In addition, the Basic two year fixed rate loan will be reduced to 4.18%, down from 4.55%.

The changes are effective Sunday 30 August for fixed and Monday 31 August for variable rates and are available on new loan applications.


  • by Barney 28/08/2015 2:51:40 PM

    Haha. That's really funny! After a complete bail-out on investors as well as gouging all existing investors (please explain how price gouging existing clients reduces growth in new investor loans) - they NOW want brokers to support them?
    This is a joke right? Let the tumble-weeds tumble.....

  • by The Observer 28/08/2015 2:55:59 PM

    With AMP's recent abrupt halt of residential investment lending and ramping up rates by a whooping 0.47% pa for existing clients, AMP have created room to play.
    The result lower rates for owner occupiers.
    The non ADI lenders will see their market share because they will not be under APRA's focus.
    Its all good for brokers, were are here to navigate our clients.

  • by sigh.... 28/08/2015 3:55:11 PM

    Will need more than that, given recent events.... I don't think they are on many brokers list of options anymore.
    It set them back years.
    First to run with something, is usually the one remembered for it.