Another lender has joined a spate of others cutting their rates and easing their terms for Australian borrowers.
Non-bank lender, Resimac, has today announced it is cutting its rates by 0.5 per cent on certain home loan products.
Since the banking regulator eased its serviceability guidance and the RBA issued consecutive rate cuts, lenders in their dozens have cut their prices. You can read a comprehensive breakdown of which lenders have announced adjustments here.
Resimac announced it is discounting up to 0.50 per cent p.a. from selected Resimac Specialist interest rates, cutting 50 per cent off selected Resimac Prime Alt Doc risk fees and waiving the first year's annual fee of $299 on Resimac Prime Flex Full Doc home loans.
This is a limited time offer, according to Resimac, and applies from Monday, August 19.
These discounts are in addition to Resimac's recent rate reductions on variable interest rate products, which now start at 3.21 per cent.
“We’ve recently reduced rates and enhanced our onboarding processes, and now we’re adding more compelling reasons for brokers to do business with Resimac. Throughout our prime, specialist, full doc and alt doc loans we are offing significant further savings, reinforcing that there has never been a better time to choose Resimac,” said general manager for third party distribution, Daniel Carde.