Powered by MOMENTUM MEDIA
subscribe to our newsletter

ANZ hikes investor rates by 31bps

The major Australian bank has announced a suite of changes to its fixed residential investment loans, with some rates growing by 31 basis points.

Effective immediately (11 September), ANZ is changing its two-year fixed rates for residential investor loans.

In the broker note, ANZ reminded brokers that the new rate will be set at drawdown.

Two-year fixed principal and interest residential investment loans will have a new rate of 4.34 per cent per annum (p.a.), reflecting an increase of 31 basis points.

The increase comes following an interest rate cut of the same value (31 basis points) to the same loan on 21 July.

Advertisement
Advertisement

PROMOTED CONTENT


The two-year fixed residential investor loan with an interest-only repayment scheme will see interest rates fall by 10 basis points to 4.64 per cent p.a., while the same loan with an interest-in-advance repayment structure will also see rates fall by 10 basis points to 4.44 per cent p.a.

MyState changes

MyState Bank has also announced changes to two-year term fixed rates.

Effective 11 September, rates for new owner-occupied home loans with loan-to-value ratios (LVR) below 80 per cent will be cut by 30 basis points.

The new rate for principal and interest repayment structures is 3.69 per cent p.a. (comparison 5.01 p.a.), and the new rate for loans with interest-only repayment structures is 3.89 per cent p.a (5.05 p.a.).

MyState Limited Group Executive Broker Distribution, Huw Bough said the lower rates were part of MyState’s commitment to providing broker partners with competitive products and services so both could attract new customer groups and steadily grow their loan books.

[Related: ANZ ‘best placed’ to meet APRA benchmark]

ANZ hikes investor rates by 31bps
mortgagebusiness

Latest News

ASIC’s deputy chair Daniel Crennan QC has resigned from his role following Friday’s revelations that the regulator may have incorrectly ...

The financial services regulator has acknowledged the “totally unacceptable” delay it took in remedying breaches of remuneration limit, ...

The proportion of Australian fintechs focusing on lending has grown to 29 per cent of all fintechs, up from 21 per cent last year. ...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: Victoria’s surprising appetite for new homes

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

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