State Custodians tweets decision to pass on full rate cut to borrowers
Property ObserverDecember 7, 2020
Non-bank lender State Custodians, which consistently offers among the lowest variable rates in the market, has taken to Twitter to inform borrowers of its decision to pass on the August rate cut in full.
Chief executive Heidi Armstrong tweeted to her 2,881 followers:
In line with this announcement, State Custodians has reduced its peak performance offset home loan from 4.74% to 4.49%, making it one of the lowest variable offering in the market.
It also offers a "winter special" standard variable offset home loan with rates starting from 4.59%.
These were the cheapest fixed and variable home loan offerings just prior to the RBA announcement.
Yesterday, online lender loans.com.au launched a 4.49% “blackboard special” rate, claiming that current home loan rates were just like the 1950s.