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Following the Reserve Bank's decision to cut rates this month, Liberty Financial has cut its prime rates to 4.14 per cent per annum, with a comparison rate of 4.21 per cent.
John Mohnacheff, Liberty’s national sales manager, said the non-bank saw a 29 per cent increase in applications after its last round of rate cuts.
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“It’s clear that brokers are seeking out better pricing and service and choosing Liberty as their preferred lender to deliver on this,” he said.
Liberty is also passing on the full 0.25 per cent May rate cut to their commercial and SuperCredit products.
