Home loan news and advice - page 62

All the latest home loan news and top tips to help you manage your home loan.

Nab rate cut big bank takes lead on investor home loans

NAB rate cut: Big bank takes lead on investor home loans

As competition in the home loan market continues to heat up, NAB has cranked things up a notch. The bank’s move this week to slash variable rates for investors has made its offer the best among the big four.The interest rate for the NAB Base Variable Rate Home Loan now sits at 3.09% (3.09% comparison rate*) for investors with a loan-to-value ratio (LVR) of 80% or less and making principal and interest repayments. For context, LVR refers to the percentage of property value you’re borrowing from the bank. So if you’ve saved up a 20% deposit, then your LVR would be 80%.NAB’s five-basis point cut places it just ahead of ANZ’s rate of 3.12% (3.16% comparison rate*), available on its Simplicity PLUS home loan for investors with a maximum LVR of 80%. NAB’s latest rate reduction also further widens its gap with Westpac and Commonwealth Bank:

Meet the online lenders saving aussies millions 2

Meet the online lenders saving Aussies millions

These days, Aussies have more choice than ever before when it comes to borrowing money, and as everyone searches for faster, easier ways to control their finances, online lenders are emerging as real challengers to the big banks.There’s a lot to love about these digital dynamos, including fast online applications, super efficient approval processes and some killer low rates that can mean thousands of dollars in savings every year. Whether you’re buying a home, renovating your kitchen, planning an overseas trip or managing your business expenses, there’s an online lender to suit your needs.So check out the Mozo money editor's pick of some of the best for home loans, personal loans, and business loans...

Home loan rates are at record lows but how much will your revert rate cost you

Home loan rates are at record lows, but how much will your revert rate cost you?

If you’ve been reading the property pages recently, becoming a homeowner might seem like a more attainable goal than in previous years. Home loan rates have seen significant drops in the past few months, with top offers diving below the 2.00% mark.But if you want to lock in one of these historically low interest rates, there’s something you can’t forget: revert rates.

Coronavirus silver lining for home loan rates

Coronavirus silver lining for home loan rates

Finding upsides in the Covid crisis can be a tough ask, but a silver lining has emerged for Australian home borrowers that is cause for at least some celebration: home loan rates have dropped significantly since the pandemic hit Australia. Lenders passed through much of the RBA’s March rate relief, and have continued to cut rates in the months since as they battle it out to attract new borrowers.

Rates plunge below 2 percent for home borrowers

Rates plunge below 2 percent for home borrowers

Just when we were starting to get used to home loan rates that start with a '2', Australia's challenger lenders are now rolling out home loan rates with a '1' in front, offering even more opportunities for savvy borrowers to compare and save.

Borrower bonanza as lenders cut rates ahead of RBA

Borrower bonanza as lenders cut rates ahead of RBA

The Reserve Bank is unlikely to cut the cash rate when it meets on Tuesday, but lenders are forging ahead with a new round of home loan rate cuts in a veritable bonanza for borrowers. Variable and fixed home loan rates are dropping under 2.00% ahead of the RBA's decision, and there are some big savings on offer.