New rates for Empower loans

We are pleased to be able to announce a series of rate changes to the Empower range of loans which we trust will increase their competitiveness for new borrowers.

These new rates will apply for all loans formally approved on or after Monday 16th October.

A summary of the changes is outlined below along with some of the highlights these changes deliver. For the fixed rate changes, the changes may take a day or two further to implement, so please be sure to refer to the Rate Card (attached) to double check any rates generated out of Symmetry.

Summary of changes:

Owner-Occupied Loans with Principal & Interest repayments.

Variable rates - No change

Fixed rates:

  • 3 year fixed rate reduced to 3.88%
  • New LVR tier introduced for fixed rates over 80%, priced 0.20% higher than those under 80% LVR.

Don't forget that all Empower Home Loans fixed rates come with a free rate lock and benefit from some of the lowest variable revert rates in the market!

Owner-Occupied Loans with Interest Only payments.

Variable rates:

  • Up to 70% LVR tier benefit from a reduction in rate of 0.20%

Fixed rates:

  • A new LVR tier has been introduced for LVR's under 70%. Within this tier, rates for 1, 2 and 3 year terms have been reduced to 4.29%.

Investment Loans with Principal & Interest repayments.

Variable rates:

  • Up to 70% LVR tier benefits from a reduction in rate of 0.15%.

Fixed rates - No change

This means a new investment P&I rate of 3.99% for loans up to a 70% LVR! One of the cheapest variable investment rates in the marketplace!

Investment Loans with Interest Only payments.

Variable rates:

  • Up to 70% LVR tier benefits from a reduction in rate of 0.15%.

Fixed rates:

  • up to 70% LVR tier introduced with lower 1, 2 and 3 year fixed rates all at 4.49%!

In a continually changing market, we trust these changes will help us to continue to deliver great value solutions to your clients.