Reduce Home Loans has smashed the home loan market again with a record low rate never seen in the history of Australian mortgage rates.
Channel 10 News has revealed the newest owner occupied loan product to hit the market: a staggering 1.89%p.a. variable. (1.98%*p.a. comparison rate).
The Rate Cutter Variable Home Loan is now available for owner occupiers looking to reduce their repayments and increase their savings. Ideal for those who have built equity in their home, or have a larger deposit, borrowers are able to borrow up to 60% of the property value and take advantage of a flexible rate. That means borrowers will need a deposit of at least 40%.
The average $400,000 home owner could save $3,754 in the first year on the new Rate Cutter Variable from a Big 4 Bank. Those savings include switching costs.
It’s never been a better time to look around for a lower home loan rate.
Find out if you are eligible for the Rate Cutter 1.89%p.a. Variable by calling Reduce Home Loans on 1300 733 823