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Last week I provided a list of lenders who announced that they would be passing on the May 2016 rate cut. Since then - the following lenders have announced how much they'll be passing on. 
 

Lender

Owner occupied

Investor

Effective date

Macquarie Bank

0.25

0.20

25/05/2016

Adelaide Bank

0.17

0.17

30/05/2016

Citibank

0.21

0.21

23/05/2016

Firstmac

0.25

0.25

23/05/2016


They join the following lenders who were quick to make their announcements shortly after the RBA meeting.
 

Lender

Owner occupied

Investor

Effective date

Commonwealth

0.25

0.25

20/05/2016

Westpac

0.25

0.25

23/05/2016

NAB

0.25

0.25

16/05/2016

ANZ

0.19

0.19

13/05/2016

STG

0.25

0.25

23/05/2016

ING

0.25

0.25

20/05/2016

Suncorp

0.2

0.15

25/05/2016

Bankwest

0.2

0.2

20/05/2016

AMP

0.2

0.2

23/05/2016

ME bank

0.05

0.05

16/05/2016

Choicelend

0.25

0.25

16/05/2016

Bank of Melbourne

0.25

0.25

23/05/2016

Heritage Bank

0.2

0.2

23/05/2016

As always - if you need any advice in regards to your home loan/loan structure or have any questions at all - please get in touch. 

About the author: Jamie Moore is an active residential property investor and owner of Pass Go Home Loans. If you’d like to have Jamie provide advice on your finance structure and investment strategy, simply complete and return this FORM and he will be in touch - this is a FREE, no obligation service. This information is of a general nature – please always consult taxation professionals about the specific nature of your situation.

Pass Go Home Loans Pty Ltd
Canberra, Australia
This email address is being protected from spambots. You need JavaScript enabled to view it. | www.passgo.com.au | 1300 656 299

Published in Blog Post

Earlier in the month - the Reserve Bank of Australia announced that it would be reducing the official cash rate by 25 basis points to 1.75% Below is a list of some lenders who have announced the rate cut that they will be passing on. We are still waiting to hear from others.

The Big 4 - with the exception of ANZ - have passed on the full 25 basis point cut. ME Bank has passed on the lowest cut at 5 basis points. As always - if you need any advice in regards to your home loan/loan structure or have any questions at all - please get in touch.

 

Lender

Owner occupied

Investor

Effective date

Commonwealth

0.25

0.25

20/05/2016

Westpac

0.25

0.25

23/05/2016

NAB

0.25

0.25

16/05/2016

ANZ

0.19

0.19

13/05/2016

STG

0.25

0.25

23/05/2016

ING

0.25

0.25

20/05/2016

Suncorp

0.2

0.2

25/05/2016

Bankwest

0.2

0.2

20/05/2016

AMP

0.2

0.2

23/05/2016

ME bank

0.05

0.05

16/05/2016

Choicelend

0.25

0.25

16/05/2016

Bank of Melbourne

0.25

0.25

23/05/2016

Heritage Bank

0.2

0.2

23/05/2016


About the author: Jamie Moore is an active residential property investor and owner of Pass Go Home Loans. If you’d like to have Jamie provide advice on your finance structure and investment strategy, simply complete and return this FORM and he will be in touch - this is a FREE, no obligation service.

This information is of a general nature – please always consult taxation professionals about the specific nature of your situation.

Pass Go Home Loans Pty Ltd
Canberra, Australia
This email address is being protected from spambots. You need JavaScript enabled to view it. | www.passgo.com.au | 1300 656 299

Published in Blog Post
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