The Community First Credit Union subsidiary has simplified its pricing structure for both fixed and variable loans, except those associated with current or previous specials. 

The new structure means there will be just one rate for each fixed loan and one rate for the standard variable loan, regardless of whether the borrower is an investor or residential buyer.

The interest rates are also the same for both principal and interest (P&I) repayments and interest-only (IO) repayments. 

Easy Street has an everyday variable rate of 3.75% p.a. (3.79% comparison rate*) with a 100% offset account available. 

It has one-year fixed rates from 2.29% p.a. (3.66% p.a. comparison rate) and two-year fixed rates from 2.29% p.a. (3.53% p.a. comparison rate). 

Chief executive of Community First Credit Union John Tancevski said the change "demonstrated Easy Street's long standing reputation for offering banking value and simplicity". 

"We’re about making banking simpler and easier for people by removing some pricing complexity," Mr Tancevski said.

"As a bonus, investors can now access highly competitive pricing, unlocking more savings.”

Buying an investment property or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for investors.

Update resultsUpdate
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.19% p.a.
6.58% p.a.
Principal & Interest
Featured 90% LVR
  • You MUST already have Solar or a documented plan to install within 90 days to be eligible for this loan
  • Available for refinance or purchase
  • No monthly, annual or ongoing fees
6.29% p.a.
6.20% p.a.
Principal & Interest
Featured Apply In Minutes
  • A low-rate variable investment home loan from a 100% online lender. Backed by the Commonwealth Bank.
Important Information and Comparison Rate Warning

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. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. 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 . View disclaimer.

The new pricing structure won't apply to Easy Street's current special variable rate of 1.95% p.a. (1.99% p.a. comparison rate) on loans of $750,000 and above. 

Although pricing for interest-only repayments would be the same, the lender noted that there would still be restrictions on maximum interest-only terms, with Easy Street's usual assessment criteria utilised as part of the loan approval process. 

"Our new rates bring all our interest rates back into alignment whether it’s for investors, owner-occupiers and whether they choose to make repayments on a P&I or interest-only basis,” Mr Tancevski said. 

Support for returning investors 

Data from the Australian Bureau of Statistics (ABS) showed new loan commitments for investors rose 2.1% in April to $8.1 billion, the highest level since mid-2017.

This is the latest evidence to suggest investors are returning to the market in droves after a noticeable dip in investor lending last year. 

CoreLogic head of research Tim Lawless said the increased investor activity would further increase house prices, potentially leading to regulators stepping in next year. 

"A slowdown in dwelling price appreciation is expected as affordability constraints progressively impact market participation, and potentially tighter credit policies looms further down the track," Mr Lawless said. 

Mr Tancevski said part of the decision to alter Easy Street's new pricing structure was made in response to changing property market conditions. 

“With investors returning to property markets around Australia, Easy Street’s new pricing structure in the interest-only space for investors will be highly competitive as we will be below almost all of our competitors' pricing," he said. 

“Having the same rates for investors and owner-occupiers is unique in the mortgage industry in Australia and means we won’t charge you more if you fall into one category or the other." 

Photo by Priscilla Du Preez on Unsplash

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