ME Bank cuts investor fixed rates

by Duffie Osental13 Jul 2020

ME Bank has announced that it is offering property investors “significantly reduced” fixed rates, with cuts up to 80 basis points.

In a statement, the bank said the changes give property investors “added certainty, peace of mind, and helps them save money.”

New customers and existing customers on variable loans will be eligible to lock in the offer on both principal and interest, and interest-only.

The cuts apply across one- to three-year fixed terms for flexible home loans with member packages with an LVR up to 90% for investors paying principal and interest, and up to 80% for those paying interest only.

The most competitive investor fixed rate will become 2.79% on the two-year principal and interest term at up to 90% LVR.

The headline rate changes are as follows:

Interest-only investor loans with an LVR between 80% and 90% will be 20 basis points higher than those listed in the table above.

According to ME Bank, a $395 annual fee will apply to the member package. Non-member package fixed rates will have a 15-basis point premium applied.