Aussie Home Loans
has slashed rates on its Aussie Select and Aussie Optimizer home loan products to their lowest interest rates ever.
For loans with an LVR of up to 95%, including LMI, the Aussie Select two-year fixed rate has been reduced by 25bps to 4.39% (comparison rate 4.68%). The Aussie Select three-year and five-year fixed rates have also been discounted, to 4.49% and 4.59% respectively.
Both the Aussie Optimizer two-year and three-year fixed rates have been slashed to 4.39% (comparison rates of 4.76% and 4.73% respectively). The five-year Aussie Optimizer fixed rate has been reduced to 4.59%.
An additional 15bps discount will also apply to standard Aussie Optimizer fixed rate pricing on principal and interest owner occupied loans lodged from 11 February 2015 and settled by 30 June 2015.
, founder and executive chairman of Aussie, says the new low rates are available to all borrowers, however brokers should be particularly prudent with customers in a competitive, low rate market.
“With such strong competition in the market, customers need to be careful not to get blindsided by a low interest rate only because there is so much more to consider when choosing the right home loan, things like loan features, flexibility and fees and charges,” he said.
“In particular, when comparing fixed rate loans borrowers should be looking at the comparison rates because they reveal a truer cost of the loan. The comparison rate includes both the interest rate and most of the fees and charges relating to a loan, combined into a single percentage figure.
“These new fixed rates are the lowest fixed rates we have ever offered and they are available to all approved borrowers including first home buyers, next home buyers, refinancers and investors.”