Greater cuts interest rates, fees from some home loans

Greater cuts interest rates, fees from some home loans
Michael CrawfordSeptember 1, 2015

The Greater Building Society has cut 0.55% from their new owner occupier variable basic home loan and has announced it will waive establishment, settlement and title insurance fees on all of its basic and packaged home loans.   

The Greater has cut 0.55% off the rate for new owner occupier variable basic home loans worth $150,000 or more that have a loan to valuation ratio (LVR) of less than 80 per cent. This takes the rate for that loan to 4.09% (comparison rate 4.09%), the lowest it has ever been.

It is also offering 0.2% off fixed Great Rate home loans and fixed and variable Ultimate (packaged) home loans of more than $150,000 with an LVR of less than 80% for both owner occupiers and investors. 

Chief executive officer Scott Morgan said when you consider the all important comparison rate (which takes into account interest rates plus key fees and charges) the discounted variable Great Rate Home Loan is the leading rate of The Greater’s main competitors and 0.83% lower than NAB’s equivalent rate.  

Lowest Owner Occupied Variable Loan with LVR

Interest Rate (%)

Comparison Rate* (%)

Greater

4.09

4.09

NAB

4.53

4.92

ANZ

4.48

4.89

Westpac

4.48

4.86

Commonwealth Bank

4.19

4.79

Newcastle Permanent

4.09

4.45

IMB

4.09

4.45

CUA

4.13

4.19

Heritage

4.14

4.19

* Comparison rate is based on $150,000 over 25 years. 

 

For more information, click here.

Michael Crawford

Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.

Editor's Picks

Above Zero to launch Glyndon in Camberwell
Sunkin takes luxury to new heights at Highett Common
The K2K Plan to transform Kensington and Anzac Parade corridor
Bathla launches Hillview Terrace, North Kellyville townhouse development
“A lifestyle destination rather than a holiday destination” Why the Gold Coast is now more boom than bust