Heritage Bank cuts variable home loan interest rates

Heritage Bank will offer variable rate home loan rates from as low as 2.54% after announcing cuts to its rates last week.

Heritage has reduced selected rates for new loans across its owner occupier and investment range from making it more attractive for prospective borrowers to take out a loan with Australia’s largest customer-owned bank.

Heritage has dropped its Discount Variable home loan interest rate to 2.54%, for eligible borrowers taking out a new owner occupier loan of $150,000 - $699,999 with a loan to value ratio equal to or less than 70%.

Other rate reductions for new owner occupier loans include:

• Selected Discount Variable loans reduced by 0.09%
• Selected Home Advantage Variable loans decreased by up to 0.19%

There is also news for investors with further rate cuts for new loans as follows:

•  Investor Discount Variable loan rates reduced by up to 0.14%
•  Investor Home Advantage Variable loan rates cut by 0.14% - 0.24%