Homeloans reduces variable rates

By Your Mortgage

Homeloans has cut its Ultra Plus variable rates to 4.89% (comparison rate 5.22%).

The new rate applies for loans with an LVR less than or equal to 75%.

Your Mortgage’s home loan calculator shows the reduction will save customers about $15 a month for a loan of $350,000, on a loan term of 20 years, compared to the previous rate.

Ultra Plus loans with an LVR greater than 75% have a reduced interest rate of 4.99% (comparison rate 5.32%).