Greater Building Society cuts one-year fixed-rate to 4.39%

Greater Building Society has become the second lender to offer a one-year fixed-rate of 4.39%.

The comparison rate is 5.47%.

This follows the Newcastle-based lender cutting the interest rate on its one year fixed-rate packaged home loan by 15 basis points.

The rate on its non-packaged one-year fixed rate home loan has been reduced from 4.95% to 4.59%.

The new rates kicks in from July 19.

The other lender to offer a 4.39% one-year fixed rate home loan is fellow Newcastle-based lender the Newcastle Permanent Building Society.