ING Direct Home Loan Increase Interest Rates By 0.15%

ING Direct have announced that they will be increasing their variable interest rates on all residential home loan products for new and existing customers by 0.15% p.a. These changes will be effective from 12th December 2016.

ING Direct have also increased their commercial loan interest rates for existing customers by 0.20%. For new business, their commercial mortgages are increasing by 0.10% to 0.20%. Similar to residential loans, the commercial rates will take effect from 12th December 2016.

Before the Decmeber RBAs announcement of not changing interest rates, NAB and Westpac also increased interest rates for certain home loan and investment loan products. You can read about it here. There seems to be a trend happening where lenders are increasing their variable interest rates.

If you have any questions about these announcements, please feel free to contact us.

If you are looking for a commercial loan or looking for a better deal please visit our commercial loans website.

We recommend that you view and compare current home loan and investment loans click the link below.

compare home laons

 

Share

Rates On Hold Until February 2017

 

rba

 

 

 

Today the Reserve Bank of Australia has today announced that it has decided to keep the cash rate on hold at 1.5%. The RBA will not meet again until the first Tuesday in February 2017 so interest rates will remain stable until then.

However, some banks have been increasing their interest rates for specific products. See article Westpac and NAB Increase Variable Interest Rates. We expect that most lenders will follow Westpac and NAB lead in increasing interest rates but we will keep you updated as each  lender makes an announcement.

UPDATED INTEREST RATE ANNOUNCEMENTS

NAB announced that it will increase it variable rate on property investment loans by 0.15% for new and existing customers. These changes will take affect next Monday on the 12th December.

From December 16, Westpac will increase its variable interest rates for owner occupied and investment rate by 0.08% for interest only loans. Westpac’s line of credit loans, equity access loan, will increase by 0.15%. We expect Westpacs subsidiaries St George, Bank of Melbourne, Bank SA and RAMS all to make similar adjustments to their interest rates.

ING Direct have announced that they will be increasing their variable interest rates on all residential home loan products for new and existing customers by 0.15% p.a. These changes will be effective from 12th December 2016.

UPDATE Friday 9th December

ANZ Bank will increase their Residential Investment Property Loan Index Rate (applicable to investors with a Standard Variable Residential Investment Loan) by 0.08% and ANZ Equity Manager interest rate effective 16th December.

There are no interest rate changes to ANZs  Owner Occupier home loan customers and there is no change to Simplicity PLUS home or residential investment loans.Adelaide Bank and Bendigo Bank will increase their residential mortgage variable interest rate by 0.10% p.a., effective 15th December 2016.

UPDATE Tuesday 13th December

Commonwealth Bank will increase its investment home loan rates by 0.07% and VLOC (Veridian Line of Credit) by 0.15%. There no changes for owner occupied home loans, business loans and fixed rates.

Current Bank Interest Rates Rate Cut and Date
Adelaide Bank / Bendigo Bank +0.10% 15th December
AMP No Change Announced
ANZ See Above
Bank of Melbourne See above
Bank of Queensland No Change Announced
BankWest No Change Announced
Citibank No Change Announced
Commonwealth Bank See above
ING Direct Bank +0.15%  12th December
ME Bank No Change Announced
Heritage Bank No Change Announced
NAB See above
St George Bank See above
Suncorp Bank No Change Announced
Westpac See above

If you have any questions about the announcement or interest rates, please feel free to contact us.

To view and compare current home loan and investment loans click the link below.

If you are looking for a commercial loan or looking for a better deal please visit our commercial loans website.

compare home laons

 

 

Share

Westpac and NAB Increase Variable Interest Rates.

nabwestpac

 

A day before the RBAs December interest rate announcement, Westpac and NAB have increased interest rates for property investment loans and  interest only home loans.

NAB announced that it will increase it variable rate on property investment loans by 0.15% for new and existing customers. These changes will take affect next Monday on the 12th December.

From December 16, Westpac will increase its variable interest rates for owner occupied and investment rate by 0.08% for interest only loans. Westpac’s line of credit loans, equity access loan, will increase by 0.15%.

We expect other lenders to follow NAB and Westpac interest rate decisions and we will keep you up to date of any changes that may affect your home loan and investment loan repayments.

If you have any questions about these announcements, please feel free to contact us.

If you are looking for a commercial loan or looking for a better deal please visit our commercial loans website.

We recommend that you view and compare current home loan and investment loans click the link below.

compare home laons

 

 

 

Share

Melbourne Cup Day Interest Rates Stable at 1.50%

rba

 

 

 

On Melbourne Cup day the Reserve Bank of Australia has today announced that it has decided to keep the cash rate on hold at 1.5%.

We expect that most lenders will leave their variable interest rates unchanged but we will continue to monitor lenders for rate changes outside the official rate. If there are any changes we will list them below.

Current Bank Interest Rates Rate Cut and Date
Adelaide Bank / Bendigo Bank No Change Announced
AMP No Change Announced
ANZ No Change Announced
Bank of Melbourne No Change Announced
Bank of Queensland No Change Announced
BankWest No Change Announced
Citibank No Change Announced
Commonwealth Bank No Change Announced
ING Direct Bank No Change Announced
ME Bank No Change Announced
Heritage Bank No Change Announced
NAB No Change Announced
St George Bank No Change Announced
Suncorp Bank No Change Announced
Westpac No Change Announced

If you have any questions about the announcement or interest rates, please feel free to contact us.

To view and compare current home loan and investment loans click the link below.

If you are looking for a commercial loan or looking for a better deal please visit our commercial loans website.

compare home laons

 

 

Share

Commercial Loan Update October 2016

commbuild

.

The past month has seen variable commercial property loan interest rates fall inline with the Reserve Bank of Australia’s decision to reduce interest rate in August. Fixed rates have also fallen but we see a slight increase in the 5 years fixed rate across the board.

Similarly, low doc commercial rates and business loans have followed a similar trend.

To view more information regarding commercial lending please visit our commercial loans website.

 

Lender Loan Type Security Type Interest Rate Max LVR
Bank Variable Residential Security 4.29% 80% Enquire
Bank Fixed Rates From Residential Security 4.29% 80% Enquire
Bank Variable Rates From Commercial Security 4.49% 60-75% Enquire
Bank Variable Rates to $1,000,000 Commercial Security 4.59% 60%-80% Enquire
Bank Commercial Equity Loan From Commercial Security 6.75% 60% to 75% Enquire
Bank 1 Year Fixed Rate From Commercial Security 4.60% 75% Enquire
Bank 2 Year Fixed Rate From Commercial Security 4.70% 75% Enquire
Bank 3 Year Fixed Rate From Commercial Security 4.70% 70-75% Enquire
Bank 5 Year Fixed Rate From Commercial Security 5.04% 75% Enquire

Please Note: that the above interest rates are only examples at the time of publication. Interest rates vary according to security type, property type, borrow amount against the property’s value, loan amount, location, use and purpose. Please speak to a qualified commercial lending specialist to see if you qualify for any of the interest rates shown above.

For more information regarding commercial lending please visit our commercial loans website.

Our advisers can source commercial finance from the big banks plus many other lenders  that cannot be found on the internet.

 

Share

Interest Rates On Hold For October at 1.5%

rba

 

The Reserve Bank of Australia has today announced that it has decided to keep the cash rate on hold at 1.5%. The economy has shown some signs of growth and it is expected that inflation is tracking to exceptions.

The new Reserve Bank Governor, Phillip Lowe, warned earlier this month that the government are required to play a bigger part in stimulating economic growth rather than rely on the RBA to reduce interest rates. This is a warning that unless something catastrophic happens, further reductions in interest rates are less likely in the future.

We expect that most lenders will leave their variable interest rates unchanged but we will continue to monitor lenders for rate changes outside the official rate. If there are any changes we will list them below.

Current Bank Interest Rates Rate Cut and Date
Adelaide Bank / Bendigo Bank No Change Announced
AMP No Change Announced
ANZ No Change Announced
Bank of Melbourne No Change Announced
Bank of Queensland No Change Announced
BankWest No Change Announced
Citibank No Change Announced
Commonwealth Bank No Change Announced
ING Direct Bank No Change Announced
ME Bank No Change Announced
Heritage Bank No Change Announced
NAB No Change Announced
St George Bank No Change Announced
Suncorp Bank No Change Announced
Westpac No Change Announced

If you have any questions about the announcement or interest rates, please feel free to contact us.

To view and compare current home loan and investment loans click the link below.

If you are looking for a commercial loan or looking for a better deal please visit out commercial loans website.

compare home laons

 

 

Share
  • Categories