Homeloans and Citibank Rate Updates
Effective Tuesday, 22nd April, Homeloans rolled out a number of changes to living expenses, rates on the Accelerate product range and LMI Waiver Fees. Citibank also reduced some of their fixed rates.
Homeloans Ltd updated its FlexiChoice Prime and FlexiChoice servicing calculators to reflect the latest changes to their living expenses as per the table below.
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New Allowance (p.a.)
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Single
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$18,533.42
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Couple
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$26,944.01
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Child
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$6,548.72
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In addition, Homeloans made a number of rate changes across the Accelerate product range. In summary, rates have been reduced on the full doc Accelerate and Accelerate Red suite up to 75% LVR (up to 0.30% p.a.), and PLUS (up to 0.65% p.a.).
Rates have increased on the Accelerate and Accelerate RED Full Doc 95% LVR.
Accelerate Lo Doc Jumbo and PLUS have also reduced rates up to 70% LVR.
Changes in LMI Waiver Fees are also attached reflecting a decrease in the Accelerate Red Full Doc, and Accelerate Full Doc Plus, and an increase in Accelerate Red Lo Doc.
For a comprehensive list of the changes to rates and LMI Waiver Fees please refer to the Lender News in iLend™.
Also effective on 22nd April, Citibank reduced its 1 and 5 year fixed rates by up to 0.20% p.a.
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Citibank Product
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Initial Rate
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+/-
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1 Year Fixed
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4.59%
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-0.15%
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5 Year Fixed
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5.39%
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-0.20%
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