Australia’s leading mortgage broker and non-bank lender, Aussie, will give home loan borrowers even more choice in the fixed rate market by dropping the fixed rates on its Aussie Home Loan product to a super low 4.95% p.a for one year, which is currently lower than any of its major competitors.
The rate drop follows Aussie lowering its popular Aussie Select 3 year fixed rate down to 5.29% per cent and its 4 and 5 year Aussie Select fixed rates of 5.59% are also currently lower than those of the major banks.
Aussie’s Executive Chairman and Founder, Mr John Symond, said “I do not expect rates to fall much further so borrowers should consider fixing at least part of their mortgages, and with rates falling below 5%, it’s a great time to enjoy some peace of mind with your repayments. This one year drop gives consumers the choice of not being locked in for too long, but still reaping the benefits of the lowest fixed rate of the majors for a set period.”
The new fixed rates are effective for new and existing borrowers from Wednesday 27 February 2013.
All of Aussie’s products and services are accessible via its national contact centre (on 13 13 33) or by visiting their local store or www.aussie.com.au.
Aussie was founded in 1992 by John Symond AM, who was widely credited with bringing competition to the Australian home lending industry. The company was unique in its approach to home loans, offering 24 hours a day service and loans far cheaper than those offered by banks. In 1994 Aussie introduced the securitisation of home loans, allowing it to offer loans upwards of 3% cheaper than its competitors. The company rapidly grew as consumers became aware of its products and the competition heated up as Aussie grew its market share. In 2008 CBA acquired a 33% share of Aussie. As at end September 2012, Aussie had a loans portfolio of almost $44.9 billion. In 2012 Aussie acquired Mortgage aggregator nMB, which brought its total portfolio value to more than $53bn.
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Tim AllertonP: (02) 9267 4511