Our Interest Rates are Changing

Effective from Monday 4th July 2022 the following changes to our interest rates will take effect:

INCREASES IN OUR FIXED RATES

• Fixed rates on new Owner Occupied and Investment Loans
• Fixed rates on 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 Campaign Bonus Offer  – Investment loan receives 0.20% bonus discount when Owner Occupied loan is also brought to Auswide Bank

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 are available here from our broker website.

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 3rd July 2022, but not yet approved (does not include pre-approvals):

• FIXED (Rates increasing) –  Where a rate lock form has been received with the loan application, the rate at the time of application will be applied. Where a rate lock form has not been provided at time of application, the new fixed rates applicable as of 4th July 2022 will automatically be applied.
• VARIABLE (no change) – Variable rates are not changing. No impact

2.  Applications quoted but not yet received (loans not yet submitted as at midnight 3rd July 2022):

• FIXED (Rates Increasing) – Interest rate will be the new interest rate applicable from 4th July 2022. 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) – Variable rates are not changing. No impact

3.  Applications Approved (includes loans approved prior to midnight the 31st May 2022 (documented or not documented):

• FIXED – Unless the customer has chosen to "Rate Lock", the interest rate will be the fixed rate available on the day of settlement
• VARIABLE (no change) – Variable rates are not changing. No impact