Several lenders are pricing their five-year fixed-rate home loans under 4 per cent, according to a new analysis of the mortgage market.
ING is charging 3.98 per cent (comparison rate 4.49 per cent) for owner-occupiers who take out a five-year Orange Advantage Home Loan (see table below).
Suncorp Bank‘s Home Package Plus First Home Buyer Special Offer has a five-year advertised rate of 3.99 per cent (comparison rate 4.00 per cent).
The Greater Bank Ultimate Home Loan has an advertised rate of 3.99 per cent (comparison rate 4.53 per cent) for borrowers who fix their mortgage for five years.
Newcastle Permanent Building Society also has a five-year fixed rate of 3.99 per cent (comparison rate 4.63 per cent) for its Premium Plus Package.
|Lender||Product||Interest rate||Comparison rate|
|ING||Orange Advantage Home Loan||3.98%||4.49%|
|Suncorp Bank||Home Package Plus First Home Buyer Special Offer||3.99%||4.00%|
|Greater Bank||Ultimate Home Loan||3.99%||4.53%|
|Newcastle Permanent||Premium Plus Package||3.99%||4.63%|
|RACQ Bank||Choices Package Home Loan||4.09%||4.76%|
|Westpac||Premier Advantage Package||4.09%||4.87%|
|Qudos Bank||Fixed Rate Home Loan||4.19%||4.22%|
All interest rates are for owner-occupied properties with principal-and-interest repayments and maximum LVRs of 80 per cent. Please note that the cheapest home loan may not be the best home loan for your situation.