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.
Collections: Mortgage News
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