Our 1 & 2 Year Owner Occupied Fixed Rates are Changing

We are implementing some changes to our Fixed Rate home loan rates for new to bank business and existing customers switching to fixed or refixing their loans.

We continue to navigate the current challenges in the market and after review of our current position we are implementing some changes to our Fixed Rate home loan rates for new to bank business and existing customers switching to fixed or refixing their loans.

Effective from Thursday 18th January 2024 the following changes outlined below will be applied:

What is Changing?

New to Bank Home Loan Pricing

Owner Occupied Freedom Package Fixed 1 Year
• <60 LVR increasing by 0.30%
• 60.01 to 70 LVR increasing by 0.40%
• 70.01 to 80 LVR increasing by 0.40%

Owner Occupied Freedom Package Fixed 2 Years
• <60 LVR decreasing by 0.15%
• 60.01 to 70 LVR decreasing by 0.05%
• 70.01 to 80 LVR decreasing by 0.35%

Existing Loans
• Fixed rates available for existing Owner Occupied & Investment loans – switch to fix/refix requests

What is Not Changing?

• Home Loan, Business Loan and Personal Loan Reference Rates.
• Owner Occupied Home Loan Plus (Bridging Loan) Standard Variable IO rate.
• Owner Occupied & Investment Home Loan Variable Rates available to new customers.
• Owner Occupied & Investment Line of Credit Variable Rates.
• Investment Home Loan Fixed Rates available to new customers.
• Investment Home Loan Fixed Rates available to existing customers.
• Personal Loan Fixed Rates available for new customers.
• Low Rate Visa Credit Card Interest Rate.
• Low Rate Visa Credit Card Balance Transfer offer of 0% for 12 months.

Continuing Campaigns
• Investor Bonus Campaign - receive 0.20% discount when Owner Occupied loan is also brought to Auswide
• Home Guarantee Scheme Spring Campaign - $0 application Fee OR 2yr Package Fee waive still available

What are the new Owner Occupied & Investment Rates?
Updated downloadable Rate Information Guides with full details for all of our current interest rates for Owner Occupied and Investment Home loans will be available here from Thursday 18th January 2024

Fixed Rate Home Loans:
For fixed rate loans, the standard fixed rate process will always apply. Please refer to the Fixed Rate and Rate Lock Information Guide available from the broker website for more information.

Rate Lock is not available for pre-approval loan applications.

Impact on existing home loan applications in our pipeline:

Applications will not be accepted as ‘lodged’ unless all required supporting documents as stated in the Supporting Documents Checklist are received at the time of lodgement, including VOI, and all signed forms carry a 'wet' signature.

1. Applications quoted but not yet received (loans not yet submitted as at midnight 17th January 2024):
• FIXED (Rates increasing or decreasing) - Interest rate will be the new interest rate applicable from 18th January 2024. The rate quoted to the customer may no longer exist. Brokers may need to position the rate change with the borrower before proceeding to lodge the application.
• VARIABLE (Not Changing)

2. Applications received prior to midnight 17th January, but not yet approved (does not include pre-approvals):
• FIXED (Rates increasing or decreasing) - Where a Rate Lock form has been received as well as full supporting documents at the time of lodgement of the application, the rate at the time of application or the lowest equivalent advertised rate, will be applied. Where a rate lock form has not been provided at the time of application lodgement, the applicable interest rate will be the fixed rate available on the day of settlement.
• VARIABLE (Not Changing)

3. Applications Approved (includes loans approved prior to midnight the 17th January 2024 (documented or not yet documented):
• FIXED (Rates increasing or Decreasing) - Where a Rate Lock form has been received and full supporting documents at the time of lodgement of the application, the rate at the time of application or the lowest equivalent advertised rate will be applied. Where a rate lock form has not been provided at the time of application lodgement, the applicable interest rate will be the fixed rate available on the day of settlement.
• VARIABLE (Not Changing)

4. Loan Applications that have settled:
• FIXED – There is no impact to loans that have settled.
• VARIABLE – There is no impact to loans that have settled.