Rates on hold but market still awash with home loan bargains
The RBA has this afternoon announced that rates will remain on hold for the moment but banks are continuing to offer low interest rate deals for ideal borrowers with big deposits.
Interest rate structure
$50k - $850k
Principal & interest
Loan term range
1 - 30 years
Unlimited extra repayments
Redraw fee: $0
Allows split interest
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Estimated upfront fees
Minimum SMSF Amount
For offset, add 0.05%. You may be eligible for a 0.10% discount after 5 years of good payment conduct; speak to your credit representative for more information. Add 0.10% to waive upfront fees ($1,170) on loans over $200k.
Reduce Home Loans is 100 per cent dedicated to home loans, offering no other financial services. It’s also primarily online, and this simple business model helps Reduce Home Loans keep running costs down and deliver low interest rates.
This Australian owned and operated lender only opened in 2010, so it’s a relative newcomer. However, Reduce Home Loans has won many business awards since, including Money Magazine’s cheapest non-bank home loan in 2016, 2017 and 2018.