Hold onto your hats folks, as online lender loans.com.au have got a brand new home loan rate you have to see to believe.
Today the lender has unveiled a rock-bottom variable home loan rate of 1.99% (2.55% comparison rate*) for both owner-occupiers and refinancers who have a deposit of 20% or more.
This makes loans.com.au one of the three lenders in the Mozo database to offer a home loan that starts with a ‘1’.
Called the Smart Booster Home Loan, the discounted 1.99% variable rate will apply for one year before the rate then jumps to a still competitive 2.57%.
A two year variable rate option is also available, which features an introductory rate of 2.09% (2.71%) and a rollover rate of 2.79%.
According to loans.com.au, this is the lowest variable rate they have ever offered.
“This is a great opportunity for Australians to boost their equity and own their own home sooner,” said loans.com.au managing director, Marie Mortimer.
“Borrowers who are considering switching to a lower rate should take the opportunity to reassess their loan provider and potentially refinance.”
For added flexibility, borrowers also have the option to split their loan by combining the 1.99% variable rate with the 2.29% two year fixed rate.
Mortimer says this new rate could be of great benefit to refinancers in particular, as the potential savings are clear.
“Many of our customers tell us that they delayed refinancing because they thought it would be a big hassle but it turned out to be much simpler than they expected and well worth the time invested,” she said.
Or if you’d like to compare other variable rate home loan offers in the market, head on over to home loan comparison tool.