Powered by MOMENTUM MEDIA
subscribe to our newsletter

Listed group announces pricing change

An ASX-listed mortgage and wealth group has announced a change to one of its home loan products.

Yellow Brick Road (YBR) today announced that it has has lowered its split home loan rate to give customers the best of both worlds with one of the lowest fixed rates on the market.

The Yellow Brick Road Fixed Rate Combo Special and the Vow Fixed Rate Combo Special allows customers to fix part of their rate for two years at 3.99 per cent and while keeping half of the loan at a variable rate.

“This has been an exciting year as we have been operating in the lowest rate environment in history,” Yellow Brick Road chief executive officer group funding and lending Andrew Zanchetta said.

“However, there is a growing amount of uncertainty as to what’s ahead for 2016,” Mr Zanchetta said.

Advertisement
Advertisement

“We’ve dropped the fixed rate on our split loan to provide the network with a market leading product suitable for customers that want a red hot rate locked in over the next two years but also the flexibility of the variable rate loan.”

The fixed rate special is available to both owner occupiers and investors.

The variable rates on the remaining portion of the loan currently run from 4.26 per cent to 4.74 per cent depending on the type of loan repayment, purpose and the amount.

“Our network is finding customers are becoming more interested in protecting themselves from the volatility of the variable rate market by locking in a fixed rate.

"However, many fixed rate home loans either disallow, or limit, extra repayments into the mortgage,” Mr Zanchetta said.

PROMOTED CONTENT


“But by keeping a portion of your mortgage as a variable rate loan, you have the flexibility to make as many extra repayments as you want while also ensuring that some of your debt is market-linked. That way it won’t leave you high and dry if rates drop again.”

The product was manufactured by Yellow Brick Road’s mortgage manager to provide a strong fixed variable combo deal that the network can provide to clients concerned about volatility.

 

Listed group announces pricing change
mortgagebusiness

Latest News

Risks to financial stability could be building as house prices and debt levels keep rising, the Reserve Bank has cautioned. ...

The big four bank has unveiled its response to past regulatory issues, a program meant to improve its risk management and accountability.  ...

The proposed acquisition of Westpac PNG and Westpac Fiji by Kina will no longer proceed, it has been confirmed. ...

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.