The lender has lowered its three-year fixed rate for owner-occupiers paying principal and interest (P&I) by 10 basis points(bps).

  • UHomeLoan Fixed P&I 3 yrs - 1.85% p.a. (2.24% p.a. comparison rate)
  • UHomeLoan Fixed P&I 3 yrs 80-85% LVR - 2.05% p.a. (2.41% p.a. comparison rate)

It is important to note that UHomeLoan Fixed PI 3 yrs 80-85% LVR do not require Lenders Mortgage Insurance (LMI).

UBank also recently lowered its variable rate under the Investor UHomeLoan P&I Discount Offer, which is now 19bps lower to 2.55% p.a. (2.55% p.a. comparison rate).

UBank CEO Philippa Watson said the bank regularly review its mortgage rates to keep up with the competitive lending market.

"We’re pleased to be reducing some of our already sharp fixed rates, to market-leading lows," she said.

Here are some other lenders who made recent changes to their interest rates:

Easy Street Financial Services

Easy Street has adjusted its standard variable home loan rate for P&I loans to 1.95% p.a. (1.99% p.a. comparison rate). This new rate is available for new loans amounting to a minimum of $650,000.

Easy Street's standard variable home loan has no annual, monthly, and redraw fees and offers borrowers a 100% offset account. Borrowers can also make extra repayments without any penalties.

Bank First

Bank First announced new introductory rates for its Premier Package for owner-occupiers and investors. Here are the changes:

  • Investment Introductory Premier Package =80% LVR - 2.51% p.a. (3.26% p.a. comparison rate)
  • Introductory Premier Package =80% LVR - 2.15% p.a. (2.81% p.a. comparison rate).

These introductory rates are for applications received 1 September to 24 November. It will not be available to existing Bank First customers.

Bank of us

Bank of us has laid out changes to its special offers under the FlexiDiscount product line.

  • FlexiDiscount =80% LVR Special Offer - 2.49% p.a. (2.51% p.a. comparison rate).
  • FlexiDiscount Fixed 1 yr =80% LVR Special Offer - 1.79% p.a. (2.45% p.a. comparison rate).

Pacific Mortgage Group

Pacific Mortgage Group has lowered its variable rates by 10bps across some of its owner-occupier and investor products. Here are the changes:

  • Variable P&I 60-70% LVR - 1.89% p.a. (1.89% p.a. comparison rate).
  • Variable IO 60-70% LVR - 2.19% p.a. (1.89% p.a. comparison rate).
  • Variable P&I 70-90% LVR - 1.94% p.a. (1.94% p.a. comparison rate).
  • Variable IO 70-90% LVR - 2.24% p.a. (1.94% p.a. comparison rate).
  • Investment Variable P&I 60-70% LVR - 2.19% p.a. (2.19% p.a. comparison rate).
  • Investment Variable P&I 70-90% LVR - 2.24% p.a. (2.24% p.a. comparison rate).

Find out other competitive deals in the market by using Your Mortgage’s Home Loan Comparison Tool.