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Hunter United Reduces Interest Rates Even Further

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Hunter United announces reductions on home loan interest rates.

Hunter United, has today announced a reduction in interest rates applying to a number of its variable and fixed rate home lending products. A reduction of 16 basis points will apply to its Platinum home loan (reducing to 3.79%) while a 14 basis point reduction will apply to the Basic Variable home loan (reducing to 4.55%).

These rate reductions follow the decision made by the Reserve Bank of Australia (RBA) earlier this week. The new interest rates will be effective for existing Hunter United customers from Wednesday 1st September.

CEO Tim Blomfield said he was pleased to be applying these reductions across the two most popular home lending products offered by Hunter United and believed this reinforced why being customer-owned offered a viable alternative to the bigger banks.

“The core of Hunter United’s philosophy is to offer a fair deal for their customers and this involves balancing the needs of depositors while also keeping rates low and competitive for our borrowers”.

“We’ve also heavily reduced our 2 Year Fixed rate home loan by 41 basis points to 3.98% to provide customers with greater certainty around their cash flows while still taking advantage of these historically low rates.”

Hunter United’s rate reductions, effective 1st September include:

Variable rate home loans

  • Platinum home loan rate reducing by16 basis points to 3.79%, placing it among the lowest variable home loan rates in the market;
  • Basic variable rate reducing by 14 basis points to 4.55%, which is well below the major bank’s standard/basic variable rates;
  • Green home loan reducing by 10 basis points to 4.50%
  • Standard variable rate reducing by 10 basis points to 4.85%; and
  • Package home loan rate reducing by 6 basis points to 4.69%.

Fixed rate home loans

  • 41 basis point reduction for 2 Year Fixed rate home loan, now 3.98%;
  • 16 basis point reduction for 1 Year Fixed rate home loan, now 4.25%; and
  • 10 basis point reduction for 3 Year Fixed rate home loans, now 4.40%.

“There has probably never been a better time for mortgage holders to consider switching lenders to get a better rate and Hunter United is committed to remaining competitive.” Mr Blomfield said.

About Hunter United

Hunter United provides banking solutions designed for every stage of life. We call Newcastle home, but our customers come from all over Australia for our value-for-money products including savings accounts, loans (for home, car, personal and ‘green’), credit cards, investment accounts, retirement and superannuation products. It’s been more than 50 years since we first opened our doors to support the local community and while our business continues to grow, our focus remains the same. You.

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