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.
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now