Homeloans has cut its Ultra Plus variable rates to 4.89% (comparison rate 5.22%).

The new rate applies for loans with an LVR less than or equal to 75%.

Your Mortgage’s home loan calculator shows the reduction will save customers about $15 a month for a loan of $350,000, on a loan term of 20 years, compared to the previous rate.

Ultra Plus loans with an LVR greater than 75% have a reduced interest rate of 4.99% (comparison rate 5.32%).

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