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Hunter United drops Interest Rates

Written by Annabelle McNamara

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Hunter United has announced a 0.25% reduction to its residential mortgage rates.

Hunter United Managing Director, John Ford, said “our most popular Basic Variable Home Loan rate will reduce to 6.5% which is below the rate of comparable loans offered by the major banks”. “ This reduction will save borrowers $50 per month based on a $300,000 home loan”.

Mr Ford said “the reduction in mortgage rates will no doubt be welcomed by borrowers. However, investors relying on interest income won’t be so pleased with the associated reduction in deposit rates. As a member based organisation we seek to balance borrowers and investors needs while remaining competitive in the market place”.

Hunter United’s mortgage rate reduction will take effect from 31 December 2011.

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