Home loans being discounted more than normal by the banks.

Looks like competition is hotting up in the Australian mortgage market. Variable  home loan rates have traditionally been discounted by 0.70% when borrowing more than $250,000, and now we are seeing discounts over 1%.

Discounts depend on the lender but there is a common theme amongst the banks. They are looking for low risk borrowers that borrow less than 80% of their property value. Discounts can also be found for larger sized loans.

To find out which of these lenders and loans that may suit your lending requirements please contact one of our mortgage brokers.