Non-bank lender extends variable rate reduction

by AB16 May 2013

Following the RBA decision to cut the official cash rate earlier this month, non-bank lender Mortgage House has also extended a reduction of 0.25% off the variable interest rate across the full Advantage Home Loan range.

From May 2013 onwards, Mortgage House customers with an average home loan of $300,000 will enjoy savings of more than $50 off their monthly home loan repayments.

This decision follows an announcement  earlier this month from Mortgage House of an additional 0.2%p.a. off the variable rate for the Advantage Home Owner Occupied home loan.

The Advantage Home Loan range allows customers to borrow up to 99% of the property value of their home, with features including 100% offset facility, free online and mobile banking and no on-going fees for the life of the loan. It’s available for refinance, construction or relocation loans with loan terms up to 30 years.