Lender drops variable rate below 4%

by Julia Corderoy11 Dec 2015
Queensland-based lender, QPCU has announced a discounted variable home loan rate below 4%.

Effective from 8 December, QPCU’s Classic Home Loan has been reduced to 3.97% for principal-and-interest loans of more than $150,000 (comparison rate 3.98%). 

QPCU executive manager sales and distribution Lee Slattery said the new rates show QPCU is aiming to give Brokers a real alternative. 

“We believe having market leading rates like our new variable rate offer and existing fixed rate offer, helps brokers talk to their customers about making the move to QPCU,” he said.

This follows QPCU’s announcement last month of a 3.89% three-year fixed rate home loan.

Last month, an annual general meeting (AGM) resolution also saw the lender officially change its name from Queensland Police Credit Union to QPCU. The move also allows QPCU to apply to APRA to use the term ‘bank’ in a new trading name.


  • by John Sanders 11/12/2015 9:00:02 AM

    Do they take on brokers? Anyone know? They aren't on Connective's panel.

  • by Broker 11/12/2015 9:19:45 AM

    John, yes they do distribute through brokers. They are partnered with AFG.

  • by Peter M 11/12/2015 10:00:54 AM

    John - if you have your own ACL you can obtain a direct accreditation with QPCU.