Homeloans Ltd has announced that it will now cover the cost of one standard valuation up to $300 per application on its Homeloans Ultra product range.

The lender recently cut the variable rates of its Homeloans Ultra products, reducing them by eight basis and a further 10 basis points on loans greater than $500,000.

Homeloans Ultra variable rates now start from 4.79% (comparison rate 5.12%).