Easy Street Extends Special Variable Home Loan Special With Highly Competitive Rate

13 September 2018

Media release: 7 September 2018

 

Easy Street Extends Special Variable Home Loan Special with Highly Competitive Rate of 3.49%
(comparison rate 3.52%p.a.*) 

Available on a 5% deposit, ideal for first home buyers

Key facts:

  • Easy Street Financial Services’ 3.49% variable home loan rate is one of the lowest in the Australian mortgage market
  • This super-low 3.49% rate is available for home buyers with as little as 5% deposit making it ideal for first home buyers
  • Unlike other banks that have recently increased rates, people wanting to switch their owner occupier loans can also benefit from the low rate.
  • No annual or monthly fees apply
  • The 3.49% home loan includes free redraw and a 100% offset account.

Sydney, September 2018:  Easy Street Financial Services, the online digital arm of Community First Credit Union, is shaking up the mortgage market and giving first home buyers a real chance to get started on the property ladder with a super-low variable home loan rate of 3.49%.

Unlike many lenders, which impose a higher rate for borrowers with a small deposit, Easy Street’s 3.49% variable rate is available to borrowers with a low deposit of just 5 percent.[1] This makes it an ideal home loan for first home buyers struggling to save a deposit due to paying rent.

Easy Street’s 3.49% variable home loan is a standalone product. Home buyers do not need to commit to a home loan package charging an annual fee. This allows Easy Street members to enjoy further savings, with package fees typically over $12,000 over a 30 year loan, plus compound interest.

Easy Street’s 3.49% variable rate home loan has zero annual fees, no monthly fees, and unusually, for such a low rate loan, it comes with money saving features including free redraw, a 100 percent offset account and no restrictions or penalties for making extra repayments.

Mr John Tancevski, CEO of Community First Credit Union, said, “We understand that in today’s market, it can be challenging for many first home buyers to save a large deposit. That challenge becomes even greater for first home buyers who are renting while trying to save for a home. By making our highly competitive 3.49% rate available on as little as a 5% deposit, we are giving Australia’s first home buyers a valuable opportunity to get into a place of their own.”

“Easy Street Financial Services 3.49% variable rate applies until 31 December 2018, and we urge first home buyers to take advantage of this offer while it is available. Current home owners wishing to refinance to our 3.49% variable rate can also take advantage of our FastRefi service, which can see their mortgage refinanced faster than ever before,” added Mr Tancevski.

Easy Street Financial Services’ home loans are not available through mortgage brokers.

[1] Lenders Mortgage Insurance (LMI) applies on loan to value ratios above 80%. LMI can be capitalised – added to the balance of the loan.

Terms and conditions, fees and charges apply - details available on application. All loans subject to lending guidelines. Rate is current as at 14/03/18 and subject to change without notice. Offer began on 14/3/18 and is for applications made and unconditionally approved by 31/12/18, funded by 31/03/19. Offer can be withdrawn at any time. Offer is available on the Standard Variable home loan for new money applications, owner-occupied principal and interest loans, maximum LVR of 95% (lenders mortgage insurance required for LVR over 80%). *Comparison rate of 3.52%p.a. is calculated on a loan amount of $150,000 over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

The information contained in this article is only correct at the point of time of publication. It is general information and has been prepared without taking into account your personal circumstances, objectives or needs. Please consider if this information is right for you before making a decision to acquire any product.