Reduce Home Loans has reduced its one-year fixed Full Doc interest rate by 16 basis points to 4.51% (comparison rate 5.19%).

Your Mortgage’s home loan calculator shows the reduction will save customers about $26 a month for a loan of $300,000, on a loan term of 20 years, compared to the previous rate.

The three-year fixed Full Doc interest rate has been left on hold at 4.79% (comparison rate 5.44%).

The new rate is effective Tuesday, 1 October.

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