At present there are incredible never been seen before home loans discounts on offer from a wide range of lenders. Competition between lenders is really heating up. Here’s what home loan discounts and rates we can source for you at present (most of these offers are not published by the lenders).
Loan Amount |
Loan to value ratio (LVR) * |
% Rate |
Discount off the standard rate |
< $250,000 |
Less than 80% |
7.25% |
0.55% |
More than 80% |
7.25% |
0.55% |
|
$250,000 - $500,000 |
Less than 80% |
6.80% |
1.00% |
More than 80% |
7.00% |
0.80% |
|
$500,000 - $1,000,000 |
Less than 80% |
6.80% |
1.00% |
More than 80% |
6.90% |
0.90% |
|
$1,000,000 - $1,500,000 |
Less than 75% |
6.75% |
1.05% |
More than 75% |
6.90% |
0.90% |
|
$1,500,000 - $2,000,000 |
Less than 75% |
6.70% |
1.10% |
More than 75% |
na ** |
na ** |
|
> $2,000,000 |
Less than 70% |
6.65% |
1.15% |
More than 70% |
na ** |
na ** |
These loans are usually taken as part of a package which has an annual fee of between $300 and $400 which entitles the package holder to benefits such as offset accounts and discounts on other bank fees and of course the interest rate discount itself.
Don't want the bells and whistles or any fees? The best basic variable rates start from around 7.00% pa (the equivalent of a 0.80% pa discount). Usually these rates are not negotiable as they already have a discount built into them.
1 year fixed rate - 6.30% pa
2 year fixed rate - 6.30% pa
3 year fixed rate - 6.30% pa
4 year fixed rate - 6.70% pa
5 year fixed rate - 6.70% pa
7 year fixed rate - 7.59% pa
10 year fixed rate - 7.59% pa
If you want to shop around for a better deal there has never been a time. We have more bargaining power than ever before to get you a better home loan discount. Simply call or email us to discuss how we can get you a better deal.
If the information on this blog is out of date (lrates last revised 13/10/2011) please refer to our current mortgage rates page for updated home loan discounts and rates.
Thanks!
Marty McDonald
Principal
Mortgage Experts