Loans.com.au & ME Bank ruffle the big banks' feathers with hot new investment home loan offers
Tuesday 24 September 2019
Just in time for the Spring property season, we’re seeing a new trend of smaller lenders on a mission to take on the big banks in the investment loan space with a number of investor interest rate drops.
In fact, online lender Loans.com.au have broken the mould altogether, launching two new investor home loan products which offer the same rates for principal and interest and interest-only investor home loans. But get in quick because the offer is available for a limited time only.
Loans.com.au Managing Director Marie Mortimer said, “as a challenger lender, we have responded to what investors really want from their loans and heard loud and clear that they want to stop paying the ‘big bank premium’ on their investment loan.”
“Our new loans offer much better value than the big banks so we think they will convince a lot of investors to look beyond their current bank to our offering and really help to drive competition in the market,” Mortimer said.
The following new Loans.com.au investor home loan interest rates are available from 24 September 2019:
- Smart Investor 80 Home Loan (Principal & Interest, 80% LVR): 3.39% p.a. variable (4.41% p.a. comparison rate*)
- Smart Investor 80 Home Loan (Interest-only, 80% LVR): 3.39% p.a. (4.41% p.a. comparison rate*)
Joining in on the fight against the big banks, ME Bank also cut its variable principal and interest and interest-only investor home loan rates, by as much as 49 basis points. ME Bank’s new investor home loan interest rates are also available from the 24 September 2019. Here are the new rates:
- Flexible Home Loan Member Package (Investor, Principal & Interest, <80% LVR): 3.36% p.a. variable (4.06% p.a. comparison rate*)
- Basic Home Loan (Investor, Principal & Interest, <80% LVR): 3.68% p.a. variable (3.70% p.a. comparison rate*)
- Flexible Home Loan Member Package (Investor, Interest-only, <80% LVR): 3.89% p.a. variable (4.19% p.a. comparison rate*)
- Basic Home Loan (Investor, Interest-only, <80% LVR): 3.89% p.a. variable (3.79% p.a. comparison rate*)
Home loan interest rates are dropping left, right and centre, thanks to the recent RBA rate cuts, so if you’re looking to enter the investment property market this Spring property season, then now’s the time to hook yourself up with a nice low rate.
For more hot offers, check out our investment property home loan comparison table.