Heritage Bank cuts rates for investors and home buyers

Heritage Bank today announced it has cut interest rates by up to 0.50% on a number of home loans across its portfolio. 

Heritage will now offer a variable home loan rate for owner occupiers as low as 3.89%.

The cuts are effective from today, Monday, 27 November. 

CEO Peter Lock said Heritage was "thrilled" to be able to offer highly competitive rates to prospective customers. 

“We’ve cut our rates to ensure we remain right in the sweet spot for competiveness in the home loan market, and to encourage even more people to enjoy the benefits of our people first approach.” 

Mr Lock said Heritage had built its loan volumes strongly over the last year and was keen to keep that momentum going. 

“We’ve also just been added to the Aussie home loan broker panel, which gives us access to an extra 1,000 brokers around the country, which will help with our national growth aspirations as well.”

The interest rate cuts will be as follows for its Home Advantage variable owner-occupier (LVR  
       

$150,000 to $250,000 cut by 0.10% to 3.99%

$250,000 to $700,000 cut by 0.10% to 3.94% 

$700,000 + cut by 0.10% to 3.89% 

With investment loans the rate cuts are:

Investment Discount Variable Principal & Interest $150k+ (LVR4.19% 

Investment (Principal and Interest) 1 and 2-year Fixed Rate cut by 0.20% to 4.29% 

Investment (Interest Only) 1 and 2-year Fixed Rate cut by 0.40% to 4.49% 

Investment (Interest only) 3-year Fixed Rate cut by 0.50% to 4.49% 

Investment (Interest only) 5-year Fixed Rate cut by 0.50% to 4.89%