Interest rate on fixed home loan cut by UBank

Mozo

Wednesday 07 September 2011

Aussies concerned that interest rates may rise in the future might be interested to learn that UBank has reduced its fixed home loan rate to 6.59 per cent per anum.

UBank cuts fixed rate home loans

Alex Twigg, general manager of the financial institution, asserted that it was able to offer the low rate because it keeps overheads to a minimum by conducting most of its business over the phone or on the internet.

He urged those who already have a mortgage to compare home loans and consider whether or not they will benefit from switching.

The expert asserted: "Moving your home loan to get a better deal on interest rates and fees doesn't have to be in the too hard basket."

He added that the latest low interest rate offering from the firm might prove a "hassle-free, low-cost option" for Aussies thinking about refinancing their home.

People who already have mortgages may be interested to learn that the Reserve Bank of Australia announced yesterday (September 6th) that it would not be making any change to the cash rate this month.

Have a question about interest rates? Ask the money gurus at Mozo Answers. ADNFCR-1761-ID-800722045-ADNFCR

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