Online lender ME has today announced rate cuts of up to 0.30% on its variable home loans, for both investors and owner occupiers, effective 6 September 2019.
That means that its Flexible Home Loan with Member Package will have a rate of just 3.29% (3.73% comparison rate*) which the lender said is its most competitive headline variable rate - ever.
That rate is on offer for owner occupiers making principal and interest repayments, with an LVR of 80% or lower and borrowing more than $700,000. For borrowers after $$00,000 up to $700,000, the rate sits at 3.34% (3.78% comparison rate*). But other borrowers didn’t miss out.
For owner occupiers borrowing $400,000 or more, making principal and interest repayments with an 80%-90% LVR, the rate was slashed by 0.30%, bringing it down to 3.57% (4.00% comparison rate*).
And when it comes to fixed rates, new ME investment borrowers can score 3 year fixed rates from 3.48% (3.42% comparison rate*) when making principal and interest repayments, with an LVR below 90%. For new owner occupiers locking in, the 3.18% interest rate (3.87% comparison rate*) announced at the beginning of August is still on offer.
Just keep in mind that these new low rates are only available to new borrowers, and the $395 package fee still applies.