Honeymoon home loans get cheaper
Staff reporterDecember 7, 2020
Lenders have cut honeymoon rates on home loan products to stimulate growth as real estate markets slow.
Three of the top five mortgage lenders are offering discounts of up to 55 basis points for investors and home buyers on introductory rates.
Banks with the new discounts include Commonwealth Bank, Westpac Group and Suncorp.
Westpac is offering cuts of up to 50 basis points and free international trips.
CBA has announced cuts of up to 30 basis points on its two-year variable rate introductory products covering principal and interest for owner occupiers and investors and interest-only borrowers.
Suncorp is increasing the discount on its one- and two-year fixed rates by 55 basis points to a headline rate of 3.99 per cent.