CUA cuts interest rates for investors

CUA cuts interest rates for investors
CUA cuts interest rates for investors

Australia’s largest member-owned financial services provider, CUA, today announced it was cutting fixed interest rates for owner occupiers by up to 0.43 percent p.a., with its 2-year fixed rate for owner occupiers falling to a low 3.96 percent p.a.

CUA is also passing on a range of fixed rate reductions for investors, with rate cuts of up to 0.33 percent p.a.

The new fixed rates are available for home loan applications fully approved from today.

Under the changes, CUA will now offer interest rates below 4 percent p.a. for owner occupiers across its 1-year (3.94 percent p.a.), 2-year (3.96 percent p.a.) and 3-year (3.99 percent p.a.) fixed rate home loans.

The fixed rates will complement CUA’s competitive variable rates, which start from 3.99 percent p.a. for its Fresh Start Basic (Owner Occupier) home loan.

Fixed rates for investors will start from 4.34 percent p.a. for the 1-year fixed rate loan.

The 2-year fixed rate for investors will fall to 4.36 percent p.a., while the 3-year fixed rate will be reduced to 4.39 percent p.a.

CUA’s General Manager of Products and Marketing, Jason Murray, said there are a lot of people shopping around for loans at the moment and the market is seeing an increasing number of borrowers considering fixed rate options.

"Now is a great time to lock in a very competitive fixed rate with CUA and benefit from being part of an organisation focused on helping our members,” he said. “These reductions in fixed interest rates will be welcome news for first homebuyers looking to get into the property market.

A full list of CUA fixed rates for owner-occupiers and investors, including comparison rates, is available online here.

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