ANZ has become the first of the big four to outpace the RBA, increasing variable rate home loans for investors across its 'Simplicity Plus' offering by 20 basis points.

This increase comes following ANZ passing on the RBA's cash rate increase of 25 basis points across its variable rate home loan portfolio on 13 May. 

For investors, these 20 basis point increases to new and existing customers include:

  • Investment Simplicity Plus P&I <70% Special Offer: increase to 2.94% p.a. (2.94% p.a. comparison rate*)
  • Investment Simplicity Plus P&I 70-80% Special Offer: increase to 3.04% p.a. (3.04% p.a. comparison rate*)
  • Investment Simplicity Plus P&I >80% Special Offer: increase to 3.67% p.a. (3.67% p.a. comparison rate*)
  • Investment Simplicity Plus IO <70% Special Offer: increase to 3.34% p.a. (3.09% p.a. comparison rate*)
  • Investment Simplicity Plus IO 70-80% Special Offer: increase to 3.44% p.a. (3.19% p.a. comparison rate*)
  • Investment Simplicity Plus IO >80% Special Offer: increase to 3.77% p.a. (3.71% p.a. comparison rate*)

Outside of these increases, ANZ reduced the variable rate for its Simplicity Plus P&I <70% Special Offer product for owner occupiers by 15 basis points. 

The rate for this product now stands at 2.29% p.a. (2.30% p.a. comparison rate*) and applies to new customers only.

AMP cuts variable rates for owner occupiers

Steering away from the recent trend of variable home loan rate increases, AMP has cut three variable rate products for owner occupiers by up to 15 basis points.

These decreases include:

  • Professional Package Owner Occupied P&I ≤60% 500k+: 10 basis point decrease to 2.44% p.a. (2.86% p.a. comparison rate*)
  • Professional Package Owner Occupied P&I 60-80% 500k+: 15 basis point decrease to 2.44% p.a. (2.86% p.a. comparison rate*)
  • Essential Home Loan 80% 100k+: 10 basis point decrease to 2.37% p.a. (2.40% p.a. comparison rate*)

Combining with fintech lender Nano, AMP will deliver a digital mortgage for retail customers later this year.

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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.

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Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Extra Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
5.94% p.a.
5.98% p.a.
$2,978
Principal & Interest
Variable
$0
$530
90%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 10% Min Deposit
  • Redraw
  • Extra Repayments
  • More details
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Dedicated loan specialist throughout the loan application.
 Disclosure
5.89% p.a.
5.80% p.a.
$2,962
Principal & Interest
Variable
$0
$0
80%
  • Built and funded by CommBank
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 20% Min Deposit
  • Redraw
  • More details
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
 Disclosure
5.99% p.a.
6.02% p.a.
$2,995
Principal & Interest
Fixed
$0
$0
60%
  • Owner Occupier
  • Fixed 3 Years
  • Principal & Interest
  • 40% Min Deposit
  • Redraw
  • More details
  • Competitive rates to help you save
  • A Dedicated Relationship Manager
  • Certainty of repayments with a fixed rate term
 Disclosure
5.93% p.a.
5.93% p.a.
$2,975
Principal & Interest
Variable
$0
$395
70%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 30% Min Deposit
  • Redraw
  • More details
 Disclosure
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Important Information and Comparison Rate Warning
Important Information and Comparison Rate Warning
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