Heritage cuts interest rates on home loans

Heritage Building Society has cut interest rates on several of its fixed-rate home loans, delivering on its People first promise to deliver excellent value to members.

Heritage today announced it had reduced its one-year fixed rate home loan interest rate to 6.39%; the three-year fixed rate to 6.35% and the five-year fixed rate to 6.69%.*

Those rates, effective from today, are all well below the interest rates offered by the big four banks.

“Heritage is owned by its members and exists to give those members the best value possible,” CEO Mr John Minz said.

“That means we offer the most competitive interest rates that we can.

“We are always looking for ways to deliver even greater benefits to our customers, and reducing the interest rates on these fixed-rate home loan interest rates will certainly do that.

“This move again shows that Heritage is one of the most competitive and responsive options out there for people in the market for a home loan.”

Heritage today also received news that it had received three accolades in the 2011 Mozo People’s Choice Awards.

Mozo announced the award winners today after 23,000 Australians participated by rating their financial institution on the Mozo website over the last 12 months.

Heritage was awarded Top 5 ratings in the Building Society, Savings Account and Debit Card categories.

“Heritage enjoys remarkable customer satisfaction ratings and it’s heartening to see that we have again been recognized by our members in the Mozo awards, which are based on the ratings of our customers,” Mr Minz said.

* Based on a $150,000 loan over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.