Mid-month roundup for September
Mid-month roundup for September
Twice a month, we'll send you a MPA Lender Update 'roundup', bringing together updates of the past fortnight from all lenders.
Several of these updates have been supplied by mortgage aggregator Vow Financial. See more here: http://bit.ly/AboutVowAggregation
RATES
1 Sept
ING DIRECT cuts variable rates to 3.99% on its Orange Advantage product (comparison rate 4.19%) for applications received September 1st to October 31st. This promotional rate applies to new owner occupier lending with LVR less than or equal to 80% and principal and interest repayment.
2 Sept
Suncorp Bank increases interest rates to 5.23% (from 4.96% and comparison rate 5.24%) on Investment Back to Basics variable loans and 5.81% (from 5.54% and comparison rate 5.97%) on Investment Standard variable loans, effective 31 August 2015.
Westpac applies rate discounts to Flexi First home loan products with a 4.19% interest rate on the Flexi First Options Home Loan and 4.46% on the Flexi First Investment Loan, representing a 0.64% life of loan discount and effective 1 September 2015 (comparison rate not provided). The spring-time offer will also waive the $600 establishment fee.
Westpac announces a $1250 refinance rebate offer for both owner occupied and investment loans, available to full applications conditionally approved by 30 November 2015 and settled by 29 February 2016.
3 Sept
Suncorp Bank decreases variable rate to 4.15% (4.16% comparison rate) on its Home Package Plus Standard loan, for new owner-occupied loans greater than $500,000 (maximum LVR 80%) with principal and interest repayments.
Suncorp Bank decreases fixed rate to 4.19% (4.24% comparison rate) on its Home Package Plus two-year for new owner-occupied loans of at least $150,000 (maximum LVR 80%) with principal and interest repayments.
Both offers are effective 1 September 2015.
11 Sept
Advantedge Financial Services lowers variable rate to 3.99% p.a. for owner-occupier home loans across PLAN Lending, ChoiceLend and FASTLend products plus Advantedge white label partnership brands. Applicable to owner-occupier principal and interest loans with an LVR of 80% or less and a loan value of $200,000 or more, effective 10 September 2015.
PRODUCT
No changes
#pb#
POLICY
1 Sept
Thinktank Commercial introduces change to its Mid Doc product with self-certification of income now able to be supported by either one of: 2x BAS returns, six months trading bank account statements, or accountant’s letter.
3 Sept
Thinktank Commercial lifts its maximum loan term for SMSF loans from 25 years to 30 years.
4 Sept
Westpac introduces new HEM living expenses
4 Sept
Bankwest applies 0.32% loading to existing investor loans, effective 30 Sept. Maximum LVR owner-occupied 95% inclusive of LMI.
8 Sept
Thinktank Commercial lifts its maximum loan term for Lease Doc loans from 25 years to 30 years.
9 Sept
ME offers $1,250 cashback to applicants of new owner-occupier home loans greater than $400,000. Applicable to all owner-occupiers who apply from 8 September to 2 October 2015 and settle before the 31 December 2015.
Heritage Bank waives $600 application fee for variable and fixed rate mortgages (on discount and standard products) or the $350 first years package fee on Home Advantage fixed and Home Advantage variable loan products. Effective immediately until 30 November 2015.
11 Sept
Thinktank Commercial extends its standard eligibility to residential properties, including NCCP regulated loans.
COMMISSIONS
No changes
Several of these updates have been supplied by mortgage aggregator Vow Financial. See more here: http://bit.ly/AboutVowAggregation
You might have missed
- Today's Morning Briefing Pepper joins Esanda Dealer Finance auction
