Direct has decided to cut their fixed rate residential home loans by up to 0.50% p.a., effective 10 February.
For a five year fixed residential home loan, the new rate will be 4.49% p.a. and 4.59% p.a. for the same loan fixed at one to four years.
DIRECT Executive Director of Customer John Arnott says the lower fixed rates will help customers looking for certainty over meeting their repayments.
“Having the peace of mind of knowing exactly what your repayments will be can be a very effective way of planning your household finances,” Mr Arnott said.
Also on offer is a further 0.10% p.a. discount off the fixed rate portion of a home loan if customers take an Orange Advantage (100% interest offset) variable rate home loan as part of their application.