Resi Renew/Restart – Product and Pricing Update April 2023

14th Apr, 2023 | Broker News, Renew-Restart Product

Some changes you need to know about:


What’s New

Certainty at a great rate, with no break fees^

For new applications submitted from 17 April 2023, your clients can fix:

  • Their variable interest rate for 2 years with no additional loading.
  • Their variable interest rate for 3 years with a 0.10% loading.
  • Their variable interest rate for 5 years with a 0.30% loading.


Fixed rate loan option overview

  • No break cost fees apply to changing to a variable rate or repaying the loan in full.
  • No limit on additional repayments (redraw isn’t available for the fixed period).
  • Option to lock in the interest rate at final approval (fees apply).
  • Repayment certainty for your customers.


An update on variable rates

For new applications effective 17 April 2023:

  • Our variable interest rate remains unchanged, effective 17 March 2023.


An update on Fees

  • A 1.5% risk fee loading for vacant land securities will apply for our Prime Full Doc, Prime Alt Doc, Near Prime Clear Full Doc and Near Prime Full Doc home loan options.
  • A 0.5% risk fee loading for loans equal to or greater than $1,500,000 will apply for our Near Prime Clear and Near Prime home loan options.

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