Big bank loyalty costs borrowers as online lender rates hit record lows
Big bank loyalty costs borrowers as online lender rates hit record lows
A number of recent cuts from online lenders has highlighted the rate premiums many Australian homeowners, including big bank customers, may be paying on their home loans.
In the past week two online lenders, Tic:Toc and Well Home Loans, have both reduced their respective variable interest rates to new lows, placing them among the sharpest rates around.
Yesterday Melbourne-based lender Well Home Loans announced that it would be reducing its Well Balanced variable rate by 18bp to a new low of 1.99% (2.02% comparison rate ) for owner occupiers.
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