State Custodians raises loan to 5.69%

By Your Mortgage

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.