Suncorp has followed the recent moves of cutting rates, announcing the reduction of its one-year, two-year, three-year and five-year fixed stand alone, fixed package and interest in advance products.
Suncorp head of intermediaries Steven Degetto credited the bank’s diversified funding profile as the main factor why it can afford to offer customers affordable rates.
“Interest rates are at a generational low, making it a good time for those looking to enter the property market for the first time or upgrading their current home.”
New home loans with a one-year, two-year, or three-year fixed interest rate are now at 4.39% with less than 90% loan to value ratio.
Meanwhile, Nationalcorp Home Loans has also confirmed that it is passing the full rate cut of 0.25% for its variable rates across its three funders: Adelaide Bank, Resimac and ING Bank.
Nationalcorp’s fixed rates are scheduled to be re-assessed this week.