MyState Bank and Auswide Bank have announced new fee waivers and rate reductions to help customers refinance their home loans.
MyState Bank has waived establishment fees (up to $300) and cut settlement fees by $350, allowing new refinance customers to save up to $650.
Auswide Bank has also removed establishment fees worth $300 and settlement fees valued at $100, offering eligible customers up to $400 in savings per application. Additionally, the first-year package fee for the Freedom Package Home Loan, valued at $395, is now waived.
MyState Bank has further reduced rates on Interest Only Investor loans by 15 basis points, following a recent 25 basis point reduction on August 28. The changes are effective immediately.
Mark Woolnough (pictured), group head of broker, said the changes were made in response to broker feedback.
“Brokers are telling us that customers are increasingly looking for competitive alternatives to manage their home lending costs,” Woolnough said. “The fee waivers and rate reductions remove common barriers that can delay refinancing decisions.
“Brokers can now offer clients substantial upfront savings alongside competitive ongoing rates.”
The moves come as MyState continues to gain traction following its merger with Auswide Bank earlier this year. MyState’s residential home loans grew 62% to $12.9 billion in FY25, with $8.3 billion at MyState Bank and $4.6 billion at Auswide. The group has also expanded its broker channel, hired Woolnough to lead third-party distribution, and invested in digital upgrades to support ongoing growth.
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