Non-bank lender Homeloans has slashed rates for two of its variable rate products, with its Homeloans MoniPower sitting at 4.69% and the Homeloans Classic at 4.49%
The interest rate for MoniPower full doc loans for new business was lowered by 0.15% per annum with a comparison rate of 4.72%. Meanwhile, the Classic home loan product was cut by 0.05% with a comparison rate of 4.53%.
“We continue to take into account broker feedback about many of our products and regularly respond to this by making them more attractive,” says Homeloans’ general manager for sales Ray Hair.
“It’s important to provide features which benefit both our brokers and their customers”.