Interest rate cuts and how providers are passing these on 

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Interest rate cuts and how providers are passing these on

With the recent rate cut we wanted to provide you with a summary of providers (that we know at this stage) and how they are passing on the rate cut – please see below.
There are a few still confirming details – so we have collated what we can for now…
Lenders who have passed on the rate cut and are automatically reducing your repayments
  • Adelaide Bank
  • AMP
  • Australian Military Bank
  • Auswide
  • Bankwest
  • Bank Australia
  • Bank of Queensland
  • Bank of Sydney
  • Bendigo Bank
  • Better Choice
  • Firstmac
  • GoEdge
  • Great Southern Bank
  • Macquarie
  • ME Bank
  • MyState
  • Newcastle Permanent
  • Pepper Money
  • RedZed
  • Resimac
  • Suncorp
  • Ubank
Lenders who have passed on the rate cut but not automatically reducing your repayments
  • ANZ – Ph: 13 25 99
  • Beyond Bank – Ph: 13 25 85
  • CBA – Ph: 13 22 21
  • ING – Ph: 13 34 64
  • NAB – Ph: 13 78 79
  • St George – Ph: 1300 304 660
  • Westpac – Ph: 13 25 58
Steps you can take if lenders aren’t automatically reducing repayments
  1. Check online banking platform – most lenders will let you reduce the repayment through the app
  2. Contact lender via phone and ask for repayments to be reduced
  3. If you are comfortable, leave them as is and benefit from the extra principle repayment
Please note: If your current repayments are not at the minimum and you have elected to pay more, not all lender’s will automatically reduce this.
With the recent rate cuts, Anthony was invited on to The Real Estate Podcast to share some insights and tips on managing ongoing mortgage repayments and tricks and tips to bring down your overall mortgage costs and save money. Click here to listen.

Anthony Landahl | Managing Director Equilibria Finance

This is for general information purposes only and does not constitute advice. With all of these options there are a number of considerations outside the scope of what is covered in this article that you need to understand to ensure your personal circumstances are taken into consideration.

Equilibria Finance is a mortgage broking practice specialising in delivering residential and commercial mortgage and business and asset finance solutions to the clients of financial advice and accounting practices.

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