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AMP Bank has slashed its variable rates for new owner-occupiers.
The bank said it will reduce the variable rate for new owner-occupied loans on the AMP Essential Home loan to 3.99 per cent.
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The variable Professional Pack Home loan will also be reduced to 3.99 per cent for loans over $750,000 and with an LVR of less than 80 per cent.
AMP said the offers are part of a limited special and consistent with the bank's commitment to help more Australians own their own homes.
The changes are effective Monday 12 October and will apply until 30 November 2015.
In July, the non-major bank announced that it had ceased lending to residential property investors in response to APRA’s crackdown on landlord lending.
AMP Bank is expected to continue lending to investors later in the year, depending on market conditions.
[Related: ING Direct cuts variable rate to under 4%]
