The sun is shining bright for the home loan landscape in 2018. Here are some of the latest updates regarding the home loan space:
According to recent research, The Top 4 Banks have recently dropped their fixed rates from 30-50 basis points. For example, NAB recently dropped their fixed owner occupied rates by 50 basis points, ANZ dropped their Interest Only rates by 40 basis points and Westpac also dropped fixed rates by 40 basis points. This is their latest marketing tactic to address aggressive competition as smaller financial institutions are capturing more market share. It is also to leverage on the growing market of first home buyers, with recent news showing that lending towards this market segment has boosted to 17.9%, the highest within 5 years.
Fixed rates are enticing for first home buyers as they provide predictability with loan repayments for the first few years. However, despite aggressive tactics from the major banks, Homestar Finance still surpass most competitors in affordability! Homestar Finance’s fixed rates start from only 3.89% and a comparison rate of 3.57%. These rates are not honeymoon rates and all our home loan products do not incur any monthly or annual fees.
A recent poll conducted nationwide also highlights that 2 in 5 Australians are optimistic about home ownership in 2018, and 1 in 3 Australians considering a purchase this year. This can be attributed towards the cooling market and generous grants being provided to first home buyers. More than 80% of participants were prepared to sacrifice certain luxuries to save and purchase a property.
Let Homestar Finance realise your dream of home ownership this year with our Cashback Offer! The Offer is an Owner Occupied Variable product with an interest rate of only 3.54% and a comparison rate of 3.58%. It is available to those looking to borrow a maximum amount of $750,000 with a maximum LVR of 80%. Complementary features include a redraw facility and offset account with a generous $1200 cashback offered upon settlement. However, this offer is available for a limited time only. Enquire here to find out more!
With such a positive forecast for the home loan market, it’s the prime time for you to refinance or purchase! Homestar Finance is an award winning lender offering a variety of home loans to suit your needs. Enquire today to find your ideal home loan solution: https://homestarfinance.com.au/