Heritage, CUA, Auswide, Horizon slash home loan rates

Heritage Bank interest rate cuts

Heritage cut a wide variety of home loan interest rates by up to 19 basis points this week. Some of the key ones were:

• Home Advantage Investment Variable P&I <80% 150k+: 19 basis point cut to 2.99% p.a. (3.38% p.a. comparison rate*)
• Home Advantage Owner Occupier Variable 90% $700k+: 9 basis point cut to 2.99% p.a. (3.38% p.a. comparison rate*)
• DIscount Variable Owner Occupier P&I <80%: 9 basis point cut to 2.59% p.a. (2.64% p.a. comparison rate*)

This is how these lenders stack up among the wider owner occupier home loan market, as seen in the table below.

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Lender	Home Loan	Interest 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	Tags	Features	Link	Compare	Promoted Product	Disclosure
loans.com.au	loans.com.au Bare Home Loan (Basic OO P&I <90%)	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.	Go to site	Compare	Promoted	Disclosure
Unloan	Unloan Variable Rate Home Loan LVR < 80%	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.	Go to site	Compare	Promoted	Disclosure
Regional Australia Bank	Regional Australia Bank Home Loan Fixed (Owner Occupier, Principal and Interest, max lvr 60%) (3 years)	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	Go to site	Compare	Promoted	Disclosure
Homestar	Homestar Star Nova LVR <70% (Owner Occupied, Principal and Interest)	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		Go to site	Compare		Disclosure
Reduce Home Loans	Reduce Home Loans EconoME Home Loan (Owner Occupier, Principal & Interest, LVR 60%)	5.99% p.a.	6.01% p.a.	$2,995	Principal & Interest	Variable			$0	$150	60%				$3000 Cashback T&Cs apply Owner Occupier Variable Principal & Interest 40% Min Deposit Redraw More details		Go to site	Compare		Disclosure

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CUA interest rate cuts

CUA slashed a few home loans on the 'Accelerate' line for both investors and owner occupiers, all by 20 basis points. 

• Accelerate Variable P&I: Down to 2.94% p.a. (2.99% p.a. comparison rate*)
• Accelerate Variable IO: Down to 3.44% p.a. (3.08% p.a. comparison rate*)
• Inv Accelerate Variable P&I: Down to 3.37% p.a. (3.42% p.a. comparison rate*)
• Inv Accelerate Variable IO: Down to 3.72% p.a. (3.56% p.a. comparison rate*)

CUA's changes come after it announced it would be renaming itself to 'Great Southern Bank'.

Auswide Bank interest rate cuts

Auswide Bank cut a wide variety of investor loans by up to 45 basis points. Some of the key ones were:

• Freedom Package Inv Variable IO 75%: 45 basis point cut to 2.99% p.a. (3.40% p.a. comparison rate*)
• Freedom Package Inv Fixed P&I 3 Years 75%: 30 basis point cut to 2.29% p.a. (4.10% p.a. comparison rate*)
• Basic Variable Investment Loan P&I 75%: 40 basis point cut to 2.59% p.a. (2.61% p.a. comparison rate*)

The 'Freedom Package' loans are discounted as a 'special offer', meaning the discounted rate could end at any time. 

Horizon Bank interest rate cuts

Horizon Bank cut fixed home loans between one and three years for both owner occupiers and investors. They were all cut by 20 basis points. Some details are:

• 1 Year: Down to 2.19% p.a. (3.41% p.a. comparison rate*)
• 2 Years: Down to 2.19% p.a. (3.30% p.a. comparison rate*)
• 3 Years: Down to 2.19% p.a. (3.20% p.a. comparison rate*)
• Inv 1 Year: Down to 2.44% p.a. (3.66% p.a. comparison rate*)
• Inv 2 Years: Down to 2.44% p.a. (3.55% p.a. comparison rate*)
• Inv 3 Years: Down to 2.44% p.a. (3.45% p.a. comparison rate*)

These comparison rates are for borrowers paying P&I, borrowing up to 80% LVR (i.e. a 20% deposit).