Non-bank lender Mortgage Ezy has unveiled a new discount home loan product which will offer owner-occupied loans with rates under 3%.
The new product range will offer consumers rates as low as 2.5% on owner-occupied loans when they settle their investment loan with the non-bank as well. The interest rate applied to investment loans will be at the average rate that the major banks are offering at the time of settlement.
The investor loan rate is linked to the average rate of the big four’s standard variable rate for investments loans. But if the average rate goes up after settlement, this rate doesn’t.
BTW – the RBA has left rates on hold for the month of October. Rumour is the rate will be cut next month, November, and the banks are lobbying and positioning themselves to not pass on the reduction to mortgage customers.
For ten years or more I have hald a mortgage broking licence. As of July this year I have decided to let it expire. The reasons are various but mainly have decided it is better for me to concentrate and focus on my core business which is Buyer’s Agent work. However I am still able to act as a referer to relevant brokers and fund providers which will best suit you needs. Please contact me if you have any financial needs and I will be able to direct you to the best source.