Homeloans.com.au has announced a slight decrease in its rate for its Homeloans MoniPower product.

Borrowers can now take advantage of the lower interest rate from 4.94% to 4.84%. The comparison rate now sits at 4.88% from 4.98%.

The lender’s website states that Homeloans MoniPower has no ongoing monthly or annual fees and that the $199 application fee is waived on all new loans.

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker