Powered by MOMENTUM MEDIA
subscribe to our newsletter

Bank decreases interest rate on home loan

Bankwest has dropped its three-year introductory rate for owner-occupiers on one of its home loan products.

Effective from yesterday, the three-year introductory rate for owner-occupiers on the Equaliser Home Loan has dropped from 3.95 per cent to 3.79 per cent. The new comparison rate is now 4.20 per cent (down from 4.25 per cent).

The Equaliser Home Loan now offers owner-occupiers a discount of 1.51 per cent per annum off the average of the standard variable rates of ANZ, NAB and Westpac for the first three years (to a minimum rate of 2.50 per cent). This is up from the previous discount of 1.35 per cent.

After the introductory period, the rate reverts to the Bankwest Standard Variable Rate for owner-occupiers (Mortgage Shredder Reference Rate) less a discount.

The loan is available to individuals and for new owner-occupier loans over $200,000 for up to 80 per cent of the property value with principal and interest repayments only.

Advertisement
Advertisement

PROMOTED CONTENT


[Related: Major bank subsidiary pulls investor lending deals]

Bank decreases interest rate on home loan
mortgagebusiness

Are you a new-to-industry broker in the process of growing your business? Then there’s some great news: The Adviser’s New Broker Academy is back in 2021 and will provide you with essential insights into cutting-edge tools, strategies and processes to fast-track to success. Don’t miss your chance to attend. To secure your FREE place, visit newbroker.com.au now!

Annie Kane

Annie Kane is the editor of The Adviser and Mortgage Business.

As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts. 

Contact Annie at: This email address is being protected from spambots. You need JavaScript enabled to view it.

Latest News

The Treasurer has met with regulators to discuss the housing market and consider whether “carefully targeted and timely adjustments” ...

The major bank has once again extended its cashback and drawdown deadlines. ...

The major bank has expanded its SME Recovery Loan Scheme offer to small businesses impacted by the pandemic, effective 1 October. ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.