Resi Essentials – Interest Rate Update, Feb 2023

14th Feb, 2023 | Broker News, Essentials Product

In line with the Reserve Bank of Australia’s (RBA) decision to increase the official cash rate by 0.25% we are updating our interest rates effective 14th February 2023.

Our home loan variable interest rates will increase in line with RBA decision for new and existing lending by 0.25% per annum (p.a.). This change will be applied uniformly to all variable rate home and investment loans.

For applications currently in the pipeline (pre-formal approval), Resi Essential Options interest rates will increase by 0.25% p.a effective 14th February 2023.

For applications that have been formally approved and have had solicitors instructed, Resi Essential Options interest rates will increase by 0.25% 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 0.25% p.a effective 21st February 2023.

Increases to the required contractual repayments for impacted loans will occur on the next payment due on or after 13th March 2023.

Customers with an existing variable rate home loan will receive a letter advising them of changes to their interest rate and repayments.

New Interest rates will be released on the 14th of February 2022 and be made available through the Resi Website.

Don’t forget the benefits of choosing Resi Essentials

  • Direct access to credit managers, with optimal turnaround times for quality applications
  • No credit scoring
  • Fully assessed pre-approvals
  • No ongoing loan fees & free redraw
  • Monthly LMI
  • 40-year loan term

For further information, please visit, email [email protected] or contact your relevant Business Development Manager.