We’re keeping you up to date with the changes impacting you and your customers.
Following the RBA cash rate decision and taking into account the cost of funding, Resi will increase its home loan variable interest rates on the Essential Options Product Range.
Our home loan variable interest rates will increase for new lending by 0.35% per annum (p.a.). This change will be applied uniformly to all variable rate home and investment loans.
New Interest rates will be released on the 15th of November 2022.
APPLICATIONS IN PIPELINE
For applications currently in the pipeline (pre-formal approval), Resi Essential Options interest rates will increase by 0.35% p.a effective 15th November 2022. For applications that have been formally approved and have had solicitors instructed, Resi Essential Options interest rates will increase by 0.35% effective as at time of settlement.
For existing customers, including customers that have been formally approved and are pending settlement, Resi Essential Options interest rate will increase by 0.35% p.a effective 17th November 2022.
Increases to the required contractual repayments for impacted loans will occur on the next payment due on or after 7th December 2022.
Customers with an existing variable rate home loan will receive a letter advising them of changes to their interest rate and repayments.
For further information please visit www.resi.com.au, email [email protected] or contact your relevant Business Development Manager.
Head of Resi Distribution