Home loan rate record low of 1.99%

Home loan rate record low of 1.99%

Online lender loans.com.au has just released a 1.99 per cent variable home loan rate for owner-occupied purchasers and refinancers, paying principal and interest repayments with a deposit of 20 per cent or more.

The rate is discounted for one year, and at the end of this period the rate reverts to 2.57 per cent.

loans.com.au Managing Director Marie Mortimer is extremely excited about what this new rate could mean for Australian borrowers.

“This is the lowest variable rate we have ever offered,” Ms. Mortimer said.

“This is a great opportunity for Australians to boost their equity and own their own home sooner.”

“Borrowers who are considering switching to a lower rate should take the opportunity to reassess their loan provider and potentially refinance,” Ms Mortimer said.

To have the best of both worlds with low fixed and variable rates, you can combine this new 1.99 per cent variable rate and split with the 2 year fixed rate of 2.29 per cent.

“Many people are keen to leave the big banks and are surprised to discover how easy it is to refinance and the great deals that are out there with online lenders,” Ms Mortimer said.

“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.”

loans.com.au is an award-winning online lender that offers home and car loans. loans.com.au is proudly 100% Australian owned, based in Brisbane QLD and backed by Firstmac, Australia's leading non-bank lender with over four decades of experience and $13 billion in mortgages under management.