Home loan rate wrap: Newcastle Permanent raises rates on fixed investor loans

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Last week saw three home loan providers make changes to their home loan interest rates – Bank First, QBANK and Newcastle Permanent.

Image: ymgerman (iStock)

Newcastle Permanent increases fixed investment rates

While the week prior saw various lenders decrease their rates on investment home loans by up to 40 basis points, last week Newcastle Permanent raised its rates on these products by up to 15.

This increase has been applied to Newcastle Permanent’s two-year fixed investment products (both interest-only and principal & interest), while the three-year products saw a 10 basis point rise.

The following two and three-year fixed investment products from Newcastle Permanent saw these interest rate rises last week:

  • Premium Plus Package Investment Fixed IO
  • Premium Plus Package Investment Fixed P&I
  • Investment Fixed IO
  • Investment Fixed P&I

Newcastle Permanent – latest principal & interest fixed investment rates

Rates based on two and three-year fixed investment home loans available for a loan amount of $350,000 at 80% LVR (principal & interest). Table sorted by current rate.

Newcastle Permanent – latest interest-only fixed investment rates

Rates based on two and three-year fixed investment home loans available for a loan amount of $350,000 at 80% LVR (interest-only). Table sorted by current rate (highest to lowest).

Slight rate movements for owner occupiers

There were four rate movements for variable rate owner occupier loans this week – two each from Bank First and QBANK.

QBANK made changes to its Classic Standard Variable and Classic Plus Classic Home Loan products the week prior, and last week raised rates on its Classic Plus and Classic Offer loans by six basis points each.

Bank First was last week’s only rate decrease, lowering rates by five basis points on its First Rate home loans.

New owner occupier home loan rates – QBANK

Rates based on variable owner-occupier home loans available for a loan amount of $350,000 at 80% LVR (principal & interest). Table sorted by current rate (highest to lowest).

New owner occupier home loan rates – Bank First

Rates based on variable owner-occupier home loans available for a loan amount of $350,000 at 80% LVR (principal & interest). Table sorted by current rate (highest to lowest).

All home loan rate movements last week

Home Loan Product Level Changes between 29/05/2018 to 04/06/2018 (%)
Company Product  Old Rate New Rate Change Comparison Rate*
Owner Occupier Home Loans
Variable
Bank First First Rate Home Loan – Owner Occupied <80% 3.69 3.64 -0.05 3.74
Bank First First Rate Home Loan – First Home Buyers Owner Occupied <80% 3.69 3.64 -0.05 3.70
QBANK Classic Plus Overdraft Home Loan 250k+ 4.69 4.75 0.06 5.04
QBANK Classic Offer 80% 3.78 3.84 0.06 3.86
Fixed
Investor Home Loans
Variable
QBANK Classic Investor Offer 80% 4.19 4.35 0.16 4.41
Fixed
Newcastle Permanent Premium Plus Package Investment Fixed IO 2 yrs 5k+ 4.19 4.34 0.15 4.96
Newcastle Permanent Premium Plus Package Investment Fixed IO 3 yrs 5k+ 4.34 4.44 0.10 4.95
Newcastle Permanent Investment Fixed IO 2 yrs 4.39 4.54 0.15 5.24
Newcastle Permanent Investment Fixed IO 3 yrs 4.54 4.64 0.10 5.20
Newcastle Permanent Investment Fixed P&I 2 yrs 3.94 4.09 0.15 5.16
Newcastle Permanent Investment Fixed P&I 3 yrs 4.09 4.19 0.10 5.08
Newcastle Permanent Premium Plus Package Investment Fixed P&I 3 yrs 5k+ 3.89 3.99 0.10 4.85
Newcastle Permanent Premium Plus Package Investment Fixed P&I 2 yrs 5k+ 3.74 3.89 0.15 4.89
Rates based on loans available for $400,000 at 80%LVR. *Comparison rate based on a loan amount of $150,000 over 25 years.

Source: Canstar.com.au

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