Heritage Bank cuts home loan interest rates

Heritage cuts interest rates

Heritage Bank has cut interest rates by up to 0.50% on a number of home loans across its portfolio.

Heritage now offers a variable home loan rate for owner occupiers as low as 3.89%

The interest rate cuts are as follows:

  • Home Advantage variable owner-occupier (LVR <=80%)
  • $150,000 to $250,000 cut by 0.10% to 3.99%
  • $250,000 to $700,000 cut by 0.10% to 3.94%
  • $700,000 + cut by 0.10% to 3.89%
  • Investment Discount Variable Principal & Interest $150k+ (LVR<=80%) cut by 0.30% to 4.19%
  • Investment (Principal and Interest) 1 and 2-year Fixed Rate cut by 0.20% to 4.29%
  • Investment (Interest Only) 1 and 2-year Fixed Rate cut by 0.40% to 4.49%
  • Investment (Interest only) 3-year Fixed Rate cut by 0.50% to 4.49%
  • Investment (Interest only) 5-year Fixed Rate cut by 0.50% to 4.89%

 

The cuts are effective from today (Monday, 27 November)

CEO Peter Lock said Heritage was thrilled to be able to offer highly competitive rates to prospective customers.

“At Heritage, we pride ourselves on offering excellent rates as well as outstanding service,” he said

“It’s a combination that delivers great value and has us right at the top of customer satisfaction ratings.

“We’ve cut our rates to ensure we remain right in the sweet spot for competiveness in the home loan market, and to encourage even more people to enjoy the benefits of our people first approach.”

Mr Lock said Heritage had built its loan volumes strongly over the last year and was keen to keep that momentum going.

“We do want to build and keep attracting new customers to the bank as part of a nationwide growth strategy.

“We’re a national player in the mortgage market via our broker partners, and our reduced rates, along with our overall service proposition, make us a great alternative for anyone in the market for a home loan.

“We’ve also just been added to the Aussie home loan broker panel, which gives us access to an extra 1,000 brokers around the country, which will help with our national growth aspirations as well.”