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Auswide Bank has made a number of rate cuts on its investor home loan products.
The non-major bank reduced its two-year fixed rate by 25 basis points to 4.19 per cent and its three-year fixed rate by 20 basis points to 4.19 per cent.
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Auswide also introduced a new discount variable rate of 4.29 per cent for loans used to purchase, construct or refinance homes for investment purposes.
The rates apply to new investment home loans of $150,000 or more with a maximum LVR of 90 per cent for approved applicants.
Auswide managing director Martin Barrett said the bank’s investment loans include a 100 per cent offset account and online redraw facility, “even on these low fixed rates”.
The bank's investor lending changes came after ME announced further rate cuts for owner-occupiers and investors due to a significant fall in funding costs.
[Related: CUA makes significant rate cuts]
