Changes to our Variable and Fixed Interest Rates

Auswide Bank has recently reviewed our pricing position and we have adjusted pricing on some of our variable rates new fixed and variable rate home loans.

The changes to our new to bank interest rates will be effective from Thursday 7th September, 2023.

What is Changing?

Increase in Rates for New Lending

New Loans

Owner Occupied Home Loan Variable Principal & Interest rates 70.01% to 80% LVR – decreasing by 0.10%
Owner Occupied Revert Variable 70.01% to 80% LVR - decreasing by 0.10%
Investment Home Loan Variable Principal & Interest and Interest Only rates 70.01% to 80% LVR – decreasing by 0.10%
Investment Revert Variable 70.01% to 80% LVR - decreasing by 0.10%
Fixed rates available for all new Owner Occupied & Investment loans – increasing by 0.20%

Existing Loans

Fixed rates available for existing Owner Occupied & Investment loans – switch to fix/refix requests – all increasing by 0.20%

What is Not Changing?

Reference rates for existing Home Loans, Business Loans and Personal Loans.
Interest Rates for Owner Occupied and Investment Lines of Credit.
Home Loan Plus (Bridging Loan) Owner Occupied Interest Only variable rates.
Investor Bonus Campaign – Investment loan receives 0.20% discount when Owner Occupied loan is also brought to Auswide.

Find the latest interest rate guides here.

Exclusions:
Any offers listed above are not available on the following:

Existing customer loans
Loans to overseas residents

Please refer to our Home Loan Rate Information Guides for any new loans with the above purposes.

Things you need to know

Home Guarantee Scheme (HGS) applicants are only eligible for the 70.1% to 80% LVR band (includes Basic Home Loan rates, Freedom Package Variable & Fixed rates).
For Existing Home Loan Customers who wish to fix their loan, regardless of their LVR refer to the new Existing Loans – Switch to Fixed/Refixing interest rate schedule.
Updated Home Loan Key Facts Sheet will also be available from Thursday 7th September, 2023

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 in our Document Hub for more information. Rate Lock is not available for preapproval loan applications.

Impact on existing home loan applications in our pipeline:

1. Applications quoted but not yet received (loans not yet submitted as at midnight 6th September, 2023):

FIXED (Rates Increasing) - Interest rate will be the new interest rate applicable from 7th September 2023.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 (Rates Decreasing) – Interest rate will be the new interest rate applicable from 7th September, 2023.

2. Applications received prior to midnight 6th September, 2023, but not yet approved (does not include pre-approvals):

FIXED (Rates increasing) - Where a rate lock form has been received and full supporting documents provided at the time of lodgement of the application, the rate at the time of application will be applied. Where a rate lock form has not been provided at the time of application, the new fixed rates applicable as of 7th September 2023 will automatically be applied.
VARIABLE (Rates Decreasing) – The rate applicable will be the new interest rate from the 7th September, 2023.

3. Applications Approved (includes loans approved prior to midnight 6th September, 2023 - documented or not documented):

FIXED (Rates increasing) - Unless the customer has chosen to "Rate Lock", the interest rate will be the fixed rate available on the day of settlement.
VARIABLE (Rates Decreasing) – The rate applicable and discount quoted will be the rate quoted prior to the 7th September 2023.

4. Loan Applications that have settled:

FIXED (no change) – There is no impact to loans that have settled.
VARIABLE (no change) – There is no impact to loans that have settled.