Heritage Bank cutting rates for investors

Alex RitchieJan 31, 2019( 1 min read )

Related news

Home Loans

14 more lenders drop home loan rates

HSBC, Bankwest, AMP and Bendigo Bank are among 14 lenders to cut home loan interest rates since the last RateCity.com.au update yesterday.

Jun 7, 2019( 4 min read )

Home Loans

Three trends that could impact your home loan in 2020

As we move closer to Christmas and the New Year break, we can begin to look back on the financial news that really mattered in 2019 and start to predict what we could see in the year ahead

Dec 21, 2019( 5 min read )

Home Loans

The finance news that really mattered in 2019

With open banking legislation to begin in February 2020, now seems a good time to review some of the major news stories that put finance front and centre this year.

Dec 13, 2019( 5 min read )

Home Loans

Home loan lenders continue to cut their mortgage rates

ING, Bank of Queensland, Virgin Money, Qudos Bank and Newcastle Permanent have moved their variable interest rates since the last RateCity.com.au update yesterday.

Jun 6, 2019( 4 min read )

Finally some good news for investors; Heritage Bank is decreasing some of its investment home loan rates by up to 32 basis points as of 1 February 2019.

These changes include:

Decrease to Investment Principal & Interest and Interest Only Home Advantage interest rates (all tiers) by up to 22 basis points;
Decrease to Investment Principal & Interest and Interest Only Discount Variable (all tiers) by up to 32 basis points;
Decrease to Investment Interest Only 1-year fixed interest rate by 15 basis points;
Decrease to Investment Interest Only 2-year fixed interest rate by 15 basis points.

This announcement comes one week after big four bank, NAB, lifted its rates by 0.12 per cent for owner occupiers paying principal and interest, and 0.16 per cent for investors and interest only customers.

Alex Ritchie

Personal Finance Writer

Alex is a personal finance writer and PR professional at RateCity, and has been writing about finance for over three years. She is passionate about closing the gender pay and superannuation gap, and aims to help young Aussies to overcome their financial apathy and better manage their finances. Alex has been published in numerous print and online outlets, including Money Magazine, Lifehacker Australia, and Business Insider.

Today's top home loans products

Discount Offer Variable Home Loan OO P&I ($200k+)

Real Time Rating™

3.24 / 5

Advertised Rate

Comparison Rate*

2.59%

Variable

2.59%

No upfront or ongoing fees
Extra repayments + redraw services
Free redraw facility
Repayments may decrease if RBA cuts rates

View Now

Smart Home Loan

Real Time Rating™

3.08 / 5

Advertised Rate

Comparison Rate*

2.63%

Variable

2.65%

special

Get one of the lowest variable interest rates on the market and pay no application or ongoing fees

View Now

Home Value Home Loan (Principal and Interest)

Real Time Rating™

3.12 / 5

Advertised Rate

Comparison Rate*

2.65%

Variable

2.66%

special

Get a low variable interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online.

View Now

Great Rate Fixed Home Loan (New Customers) (NSW, ACT & QLD only) 5 Years

Real Time Rating™

2.53 / 5

Advertised Rate

Comparison Rate*

2.99%

Fixed - 5 years

3.40%

special

Borrow up to 110% of the property value by asking your family to guarantee the home loan by using their property as security on your mortgage

View Now

FAQs

Tip: You can use RateCity how much can I borrow calculator to get a quick answer.

How much money you can borrow for a home loan will depend on a number of factors including your employment status, your income (and your partner’s income if you are taking out a joint loan), the size of your deposit, your living expenses and any other debt you might hold, including credit cards.

A good place to start is to work out how much you can afford to make in monthly repayments, factoring in a buffer of at least 2 – 3 per cent to allow for interest rate rises along the way. You’ll also need to factor in additional costs that come with purchasing a property such as stamp duty, legal fees, building inspections, strata or council fees.

If you are planning on renting the property, you can factor in the expected rental income to help offset the mortgage, but again it’s prudent to add a significant buffer to allow for rental management fees, maintenance costs and short periods of no rental income when tenants move out. It’s also wise to factor in changes in personal circumstances – the typical home loan lasts for around 30 years and a lot can happen between now and then.

Heritage Bank cutting rates for investors

Related news

14 more lenders drop home loan rates

Three trends that could impact your home loan in 2020

The finance news that really mattered in 2019

Home loan lenders continue to cut their mortgage rates

Today's top home loans products

Discount Offer Variable Home Loan OO P&I ($200k+)

Smart Home Loan

Home Value Home Loan (Principal and Interest)

Great Rate Fixed Home Loan (New Customers) (NSW, ACT & QLD only) 5 Years

Popular home loans searches

FAQs