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Auswide cuts rates for investors

Auswide Bank has announced rate reductions for some of its investor home loan products.

The non-major bank reduced its two-year fixed rate by 25 basis points to 4.19 per cent, and its three-year fixed rate by 20 basis points to 4.19 per cent.

Auswide has also introduced a new discount variable rate of 4.29 per cent for loans used to purchase, construct or refinance homes for investment purposes.

The rates apply to new investment home loans of $150,000 or more with a maximum LVR of 90 per cent for approved applicants.

Auswide managing director Martin Barrett said the bank’s investment loans include a 100 per cent offset account and online redraw facility, “even on these low fixed rates”.

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