Aussie Home Loans cuts and raises fixed and variable rates

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on April 30, 2021
Aussie Home Loans cuts and raises fixed and variable rates

Mortgage broking house Aussie Home Loans has made sweeping changes to its home loan interest rates.

Aussie today raised interest rates by as much as 45 basis points on its fixed mortgages, while also cutting rates by up to 35 basis points for investors

These changes follow a number of major lenders including Westpac and UBank also increasing rates on fixed products this week. 

Aussie has made a large range of changes to its products, which have been broken up into owner-occupier (OO) variable and fixed rate changes, and investor variable and fixed rate changes.


Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers. 

Lender

Variable
More details
UNLIMITED REDRAWSSPECIAL OFFER
  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
UNLIMITED REDRAWSSPECIAL OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
Variable
More details
AN EASY DIGITAL APPLICATION
  • No ongoing fees - None!
  • Unlimited additional repayments
  • Easy online application, find out if you're approved quick!
  • Redraw- Access your additional payments if you need them
  • Use the app to get loan insights to help you pay off your home loan faster
AN EASY DIGITAL APPLICATION

Neat Variable Home Loan (Principal and Interest) (LVR < 60%)

  • No ongoing fees - None!
  • Unlimited additional repayments
  • Easy online application, find out if you're approved quick!
  • Redraw- Access your additional payments if you need them
  • Use the app to get loan insights to help you pay off your home loan faster
Variable
More details
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES
  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
Variable
More details
NSW/VIC/SA METRO & INNER REGIONAL AREAS$5000 CASHBACK. T&Cs APPLY.
  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
NSW/VIC/SA METRO & INNER REGIONAL AREAS$5000 CASHBACK. T&Cs APPLY.

Variable Home Loan (Principal and Interest)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of May 29, 2022. View disclaimer.

Aussie Home Loans OO variable rate changes 

Aussie today decreased rates on its Select Basic Variable home loan for borrowers making Principal and Interest (P&I) and Interest Only (IO) repayments by up to 35 basis points, for those with an Loan to Value Ratio (LVR) of less than 80%: 

  • Select Basis Variable P&I ≤60%: 16 basis point cut to 2.39% p.a. (2.41% p.a. comparison rate*)
  • Select Basis Variable P&I 60-70%: 16 basis point cut to 2.39% p.a. (2.41% p.a. comparison rate*)
  • Select Basis Variable P&I 70-80%: 16 basis point cut to 2.39% p.a (2.41% p.a. comparison rate*)

Aussie Home Loans OO fixed rate changes 

Aussie made sweeping changes to its fixed rate products, dropping rates by as much as 10 basis points and hiking rates by up to 45 basis points.

Cuts: 

  • Select Basic Fixed PI 2 yrs ≤60%: 10 basis point cut to 1.89% p.a. (2.32% p.a. comparison rate*)
  • Select Basic Fixed PI 2 yrs 60-70%: 10 basis point cut to 1.89% p.a. (2.32% p.a. comparison rate*)

Increases: 

  • Select Basic Fixed PI 5 yrs ≤60-80%: 20 basis point increase to 2.49% p.a. (2.45% p.a. comparison rate*)
  • Select Basic Fixed PI 4 yrs 80-90%: 25 basis point increase to 2.44% p.a. (2.93% p.a. comparison rate*)
  • Select Basic Fixed PI 5 yrs 80-90%: 30 basis point increase to 2.59% p.a. (2.94% p.a. comparison rate*)
  • Select Basic Fixed PI 2 yrs 90-95%: 20 basis point increase to 2.19% p.a. (3.24% p.a. comparison rate*)
  • Select Basic Fixed PI 4 yrs 90-95%: 45 basis point increase to 2.64% p.a. (3.19% p.a. comparison rate*)
  • Select Basic Fixed PI 5 yrs 90-95%: 45 basis point increase to 2.64% p.a. (3.18% p.a. comparison rate*)

Aussie Home Loans Investor variable rate changes 

Aussie dropped rates on some of its investor variable rates by as much 35 basis points: 

  • Inv Select Basic Variable IO ≤60-70%: 35 basis point cut to 3.14% p.a. (3.15% p.a. comparison rate*)
  • Inv Select Basic Variable IO 70-80%: 35 basis point cut to 3.24% p.a. (3.25% p.a. comparison rate*)
  • Inv Select Basic Variable PI ≤60-80%: 20 basis point cut to 2.79% p.a. (2.81% p.a. comparison rate*)

Aussie Home Loans Investor fixed rate changes 

Aussie dropped rates on one investor fixed rate loan by 10 basis points: 

  • Inv Select Basic Fixed PI 2 yrs ≤60-80%: 10 basis point cut to 2.69% p.a. (2.79% p.a. comparison rate*)

Photo by Mitchell Luo on Unsplash

Disclaimers

The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please visit the web site links at the bottom of this page.

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Alex joined Savings.com.au as a finance journalist in 2019. He enjoys covering in-depth economical releases and breaking down how they might affect the everyday punter. He is passionate about providing Australians with the information and tools needed to make them financially stable for their futures.

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