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Newcastle Permanent Building Society has thrown down the gauntlet to Australia's other lenders, with the company now offering fixed rates under 6 per cent.
From today, the lender will offer one, two and three year rates at 5.99 per cent.
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The new fixed rate prices are evidence that Newcastle Permanent is offering overall the best home loans available in Australia and providing genuine competition to the major banks, Newcastle Permanent Building Society chief executive Terry Millet said.
“We now offer Australia’s lowest two and three year fixed rate home loans and our three year fixed rate is almost half a percent better than the best standard fixed rate available from the four major banks,” Mr Millett said.
“This is the first time the three year fixed rate has been under 6.0 per cent since the GFC,” he said.
The lender is are also offering a discounted variable home loan for new borrowings with a variable rate of 6.72 per cent p.a. for the first three years.
