The Australia and New Zealand Banking group (ANZ) has brought in a new special offer discount for owner occupier principal and interest borrowers on its Simplicity Plus loan product.
The new discount has been lowered by four basis points from 0.52% p.a. to 0.56% p.a. with the new effective interest rate sitting at 3.99% p.a. These changes came into effect last Friday (3 November).
This applies to Simplicity Plus home loans submitted from the 3 November onwards for owner occupiers paying principal and interest who apply for new ANZ lending of $50,000 or more.
“Applications submitted to Credit Assessment prior to Friday 3rd November 2017 will not have the new discount automatically applied. Any changes will need to be manually updated or requested,” the bank said in a note released to brokers.
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