As competition between lenders intensifies, Macquarie Bank has waived its loan documentation fee and announced a limited time fixed rate special.
Effective from last Friday, Macquarie has reduced its two and three-year investment fixed rates to 4.09%. This applies to principal and interest investment loans with an LVR of 80% or less.
For interest-only investment loans with an LVR of 80% or less, the two and three-year fixed rate has been reduced to 4.24%.
Macquarie joins a number of lenders who have announced fixed rate reductions in recent months, including CUA, ME,NAB, Suncorp St George, ING and Advantedge.
Banks are again competition heavily for a bigger slice of the home loan pie, after the Reserve Bank lowered the cash rate to its historical low of 1.75% in May and their appetite for investment lending has increased following the widespread crackdown to obey APRA’s 10% annual growth cap.
In addition, Macquarie announced it will continue to waive up to $363 of the loan documentation fee payable on its standard home loans, irrespective of loan purpose, repayment type and LVR.
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
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