Auswide Bank : 07/07/2017 Auswide Bank to reprice investment home loans

7th July 2017

Auswide Bank to reprice investment home loans

Following a raft of changes announced by other lenders in recent weeks, Auswide Bank announced today an increase to reference rates for investment home loans and lines of credit.

Managing Director, Martin Barrett said the bank's increase of 25 basis points (0.25%) from 11th July 2017, will result in a new standard variable rate (SVR) of 6.10%

He said Auswide Bank continues to experience funding pressures and regulatory limits on investment and interest only lending.

"We'd prefer not to be increasing rates, but have limited options in the current environment which is the most challenging we have seen in sometime."

Mr Barrett said many investment loan customers pay discounted rates less than the standard variable rate based on the size of their loan.

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Auswide Bank helps Australians with an extensive range of personal and business banking products and services issued directly or in partnership with leading service providers via branches, strategic relationships and online & digital channels.

Even though we are a smaller bank, we believe that it's the small things that make us different and can make a big difference for our customers and communities.