Teachers Mutual Bank & Unibank Update

Please find attached the latest Broker News for your records. In summary, the communication advises as follows;

The bank has announced a decrease to its Owner Occupier and Investor fixed interest rates effective Wednesday, 16 October 2019 applicable for new business across all brands. The standout rates are our two-year P&I Owner Occupier rate which has dropped to 2.88% pa and the two-year Investor P&I rate which has dropped to 3.28% pa.

The bank will decrease interest rates on a number of its Owner Occupier and Investor variable interest rates effective Friday, 1 November 2019 applicable for new and existing business across all brands. The standout rates are the P&I Owner Occupier rate for the Classic Home Loan which will reduce to 3.29%pa and the P&I Investor rate for the Classic Home Loan which will reduce to 3.37% pa.