Fixed Rates are Changing

We are making some changes to our fixed interest rates effective from Thursday 23rd February, 2023.

Over the past 5 months the focus has been on variable rate movements as a result of RBA changes to the cash rate and our fixed rate pricing has remained unchanged since September 2022.

We are making some changes to our fixed interest rates effective from Thursday 23rd February, 2023.

WHAT IS CHANGING?

Selected fixed rates available for new Owner Occupied & Investment Loans
Selected fixed rates available for existing Owner Occupied and Investment Loans - switch to fix/refix requests

WHAT IS NOT CHANGING?

Variable interest rates Owner Occupied & Investment Loans
Variable interest rates for Existing Customers
Owner Occupied and Investment Line of Credit interest rates
Investor Bonus Campaign - Investment loan receives 0.20% discount when Owner Occupied loan is also brought to Auswide

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 23rd February 2023.

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 >75% <=90% 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 23rd February 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 from the broker website for more information. Rate Lock is not available for preapproval loan applications.

Impact on existing home loan applications in our pipeline:

1. Applications Received prior to midnight, Wednesday 22nd February 2023, but not yet approved (does not include pre-approvals):

FIXED (Rates Increasing) – Where a rate lock form as been received with the loan application, the rate at the time of application will be applied. Where a rate lock form has NOT been received at the time of application submission, the new fixed rates applicable as of 23rd February 2023 will automatically be applied. The fixed rate current at the time of settlement will be applied as per the standard fixed rate rules.
VARIABLE (No Change) – Current variable rates are not impacted.

2. Applications quoted but not yet received (loans not yet submitted as at midnight 22nd February 2023):

FIXED (Rates Increasing) – Interest rate will be the new interest rate applicable from 23rd February 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 (No Change) – Current variable rates are not impacted

3. Applications Approved (including loans approved prior to midnight 22nd February 2023 (documented or not yet documented):

FIXED (Rates Increasing) – Unless a rate lock request was lodged at the time of the application submission, the interest rate applied will be the fixed rate available on the day of settlement.
VARIABLE (No Change) – Current variable rates are not impacted

4. Loan Applications that have settled:

FIXED (Rates Increasing) – There is no impact to loans that have settled
VARIABLE (No Change) – There is no impact to loans that have settled

Talk to your Broker Relationship Manager today for more information.