State Custodians has raised its Self Employed Loan interest rate by 27 basis points to 5.69% (comparison rate 5.61%).
The rate applies for loans with an LVR to 80% plus LMI.
Your Mortgage’s home loan calculator shows the rise will cost consumers an extra $32 a month for a loan of $200,000, on a loan term of 25 years, compared to the previous rate.
The loan is designed for self employed borrowers who might lack the traditional proof of their income.
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