86 400's cuts were seen across both investor and owner occupier home loans. Full details of the cuts are below:

  • Own Home Fixed 1 Year: Cut by 31 basis points to 1.84% p.a. (2.63% p.a. comparison rate*)
  • Own Home Fixed 2 Years: Cut by 9 basis points to 1.89% p.a. (2.59% p.a. comparison rate*) 
  • Own Home Fixed 3 Years: Cut by 16 basis points to 1.99% p.a. (2.58% p.a. comparison rate*)

All owner occupier home loan cuts were for borrowers paying principal and interest (P&I), while for investors, there were some cuts for interest-only (IO) home loans:

  • Investment IO Fixed 1 Year: Cut by 15 basis points to 2.44% p.a. (2.85% p.a. comparison rate*)
  • Investment IO Fixed 3 Years: Cut by 10 basis points to 2.49% p.a. (2.49% p.a. comparison rate*)
  • Investment P&I Fixed 1 Year: Cut by 15 basis points to 2.24% p.a. (2.84% p.a. comparison rate*)
  • Investment P&I Fixed 3 Years: Cut by 15 basis points to 2.24% p.a. (2.79% p.a. comparison rate*)

All home loans are for borrowers with a maximum loan-to-value ratio (LVR) of 80%. 

"Our mission at 86 400 is to help Australians take control of their money and that means reviewing our rates on a regular basis, regardless of what the rest of the market is doing," 86 400's head of lending Melissa Christy told Savings.com.au.

"Our smarter, simpler, digital alternative to home loans will help put more Australians on the financial fast track to property ownership, or give them a better rate on their existing mortgage."

Lenders have been increasing their fixed home loan rates lately, including ANZ, Westpac twice, CommBank, NAB, and Citi, just to name a few. 

This morning, Newcastle Permanent increased some home loan rates by up to 20 basis points.

However, Greater Bank cut in a similar fashion to 86 400 today, cutting interest rates on investment loans fixed between one and three years by up to 30 basis points.

Advertisement: Compare some of 86 400's home loans for owner occupiers below.

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