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Hunter United Raises Variable Interest Rates by 7 basis points.

Today, Hunter United announced an increase of 7 basis points in interest rates applying to the following variable rate mortgage products:

 

  • Green Home Loan Special from 3.87%p.a. to 3.94%p.a.
  • Platinum (owner occupied loans) from 3.87%p.a. to 3.94%p.a.
  • Platinum (investment loans) from 3.99%p.a to 4.06%p.a.
  • Interest Only Home Loan from 4.90%p.a. to 4.97%p.a.

The new interest rates will be effective for new and existing Hunter United customers from Friday 21st September2018.

CEO Tim Blomfield said that the 7 basis point increase was at the lower-end of recent variable rate increases introduced by over 2 dozen other lenders and would not be applied to the credit union’s other variable rate home loan products at this stage, with rates on their Standard Variable, Basic and Package home loan products remaining unchanged.

“We’ve recently seen some upward pressure in our funding costs so the variable rate home loan changes being announced today aim to balance the needs of depositors while also keeping rates competitive for our borrowers”, Mr Blomfield said.

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