ME cuts variable rates by up to 40bps

by Julia Corderoy09 Jun 2016
Superfund-owned lender ME has slashed home loan variable rates for new owner occupier and investment customers.

The non-major’s Basic Home Loan variable rate has been reduced by 40 basis points, to 4.24%, for investor clients with an LVR of 80% or less. The same loan for owner occupiers been reduced to 4.24%, a reduction of 20 basis points.   

For both the owner-occupied and investment Flexible Home Loan with Member Package, with an LVR of 80% or less, the variable rate has been cut by 6 basis points, to 3.89% and 4.09% respectively.

For the Flexible Home Loan with Member Package with an LVR between 80% to 90%, both owner occupied and investment variable rates have been cut by 15 basis points, to 4.09% and 4.29% respectively. 

Last week, ME announced fixed rate home loan cuts for new customers.