Latest News from 86 400
Please see the latest updates from 86 400 amidst the COVID-19 pandemic:
- All new variable rate applications received by 30 June 2020, will receive an extra 10bp reduction on their rate for the life of the loan.
- Owner-occupied P&I 2.74%, Owner occupied IO 3.34%,
- Investment P&I 3.09%, Investment IO 3.44%.
- COVID19 JobKeeper update - Serviceability will be based on applicants verified, regular income prior to the pandemic, where they are expected to return to regular employment conditions in due course. Specifically, applicants who continue to receive PAYG income from the same employer through this period will be assessed based on their previous regular and ongoing income provided they can confirm that this income is expected to return to the same level in due course.
- Where borrowers wish to refinance to 86 400 and an agreed COVID-19 related repayment deferral period is in place, 86 400 will honour the full deferral period provided by their current lender.
- Lowered their fixed rates to as low as 2.24%*, effective 7 May 2020;
- Reduced the serviceability floor rate from 5.50% to 5.25%;
- Offering a $250 Annual Package fee waiver for the first year after settlement; AND
- Introduced a $2,000 cashback offer! (Own home loan applications for purchases and refinances received from 4 May 2020 to 30 June 2020 (inclusive), may be eligible for the $2,000 cashback offer.)
To be eligible all applications must:
- Be received between 4 May 2020 and 30 June 2020, with the loan settled by 31 August 2020;
- Be for a minimum loan amount of $250,000; and
- Satisfy the terms and conditions set out below.
Terms and conditions: Limited to 1 x cashback payment per primary borrower, regardless of the number of loans. Offer may be varied or withdrawn at any time. The cashback will be paid into an 86 400 Pay account within 14 days of settlement. Credit criteria, fees and charges apply. Based on 86 400's credit criteria, residential lending is not available for non-Australian resident borrowers.
*WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.