In a step away from recent rate hikes of the big four banks, HSBC have reduced its standard variable rate for investors.
The standard variable rate has moved from 6.25 per cent to 5.95 per cent – a reduction of 30 basis points.
Aussie property investors have been hit with higher rates and increased lending scrutiny up until recently. This move from HSBC may bring some welcome relief to investors across the country that strict borrowing conditions could be lessening.
The rate drop follows a similar move made by the lender earlier this week, where new customers applying before 31 December 2018 will be able to snatch up newly reduced rates for owner-occupiers and investors.