Homeloans cuts rate, increases broker commissions

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Non-bank lender Homeloans has reduced its interest rates within the Optima product range, dropping variable rates to 4.36%. The loan’s comparison rate is at 4.37%.
 
Apart from the rate cut, Homeloans also announced the increase in upfront commissions for the Optima range to 0.70% plus GST.
 
The move to slash rates was the company’s third this year, in order to respond to feedback from brokers. Homeloans have also announced this year zero get-in costs for customers.
 
“This is the fastest growing product in our range,” general manager of sales Ray Hair said.
 
“Its popularity is testament to the benefits that Optima provides both brokers and their customers.”
 
“We have further enhanced what was already a highly compelling loan solution as we take into consideration our brokers’ and customers’ needs.”
 

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