Media Release - Easy Street home loan breaks 2% barrier

02 September 2020

 

Easy Street cuts variable home loan rate to record low of 1.95%p.a.1 (comparison rate 1.99%p.a.*) for loans of $750,000-plus

  • Easy Street Financial Services has cut its standard variable home loan rate to 1.95% p.a.1 (1.99% p.a. comparison rate*) on new lending of $750,000 or more – one of the lowest rates across the Australian home loan market
  • The 1.95% p.a.1 (1.99% p.a. comparison rate*) rate is available for owner occupied home buyers with a 20% deposit on principal and interest repayments
  • Refinancers with an LVR less than 80% can take advantage of the 1.95% p.a.1 (1.99% p.a. comparison rate*) rate to save on loan repayments
  • The 1.95% p.a.1 (1.99% p.a. comparison rate*) home loan comes with zero annual or monthly fees and is packed with features including free redraw and 100% offset account
  • Offer available for loans funded by 30 November 2020.

Sydney, (August 2020):  Easy Street Financial Services, a division of Community First Credit Union, is setting a new benchmark in Australia’s home loan market, with a record-low standard variable rate of 1.95% p.a.1 (1.99% p.a. comparison rate*) on loans of $750,000-plus for loans applied from 4 August 2020 and funded  by 30 November 2020^.

Easy Street’s 1.95% p.a.1 variable rate (1.99% p.a. comparison rate*) is available to owner occupied buyers with a deposit of 20% or more or refinancers with an LVR less than 80% with principal and interest repayments.

Unlike many low rate loans, Easy Street’s 1.95%p.a.1 variable rate (1.99% p.a. comparison rate*) home loan is a standalone product. Borrowers are not required to commit to a home loan package charging an annual fee. In addition, the loan charges zero monthly or annual fees, ensuring a low comparison rate.

Easy Street’s 1.95%p.a. variable rate1 (1.99% p.a. comparison rate*) home loan on loans of $750,000 or more, comes packed with features, including:

  • Fee-free redraw
  • 100% offset account
  • No monthly or annual fees
  • No restrictions or penalties for extra repayments
  • Borrow up to 80% of the property value
  • Application fee of $500#

Mr John Tancevski, CEO of Community First Credit Union, said, “Community First Credit Union is continually looking for ways to offer Australians better value on their financial products. At a time when many people are looking for ways to save on household costs, Easy Street Financial Services’ 1.95%p.a.1variable rate (1.99% p.a. comparison rate*)  home loan can help home buyers – and existing home owners, enjoy the savings of the lowest home loan rate we have ever offered.

“Easy Street Financial Services has a proud reputation for offering some of the most competitive banking products in Australia, and our 1.95%p.a.1 (1.99% p.a. comparison rate*) home loan is evidence that it is possible to offer an exceptionally low rate without scrimping on loan features. The 1.95%p.a.1 (1.99% p.a. comparison rate*) rate is available on balances of $750,000 or more, making this an ideal opportunity for home owners to save by refinancing.”
 

Easy Street Financial Services’ home loans are not available through mortgage brokers. Additional information is available at https://info.easystreet.com.au/svr-750k-mr/

-ENDS-

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Credit eligibility criteria, fees and charges apply - details available on application. All loans subject to lending guidelines. 1Rate is current as at 04/08/20  and subject to change without notice. ^Offer is for applications submitted from 04/08/20 and funded by 30/11/20 . Offer can be withdrawn at any time. Offer is available on the Standard Variable home loan for new money owner-occupied applications, principal and interest loans with a minimum total loan balance of $750,000 and maximum LVR of 80%. Offer does not apply to refinancing of existing Easy Street  or Community First home loans. *Comparison rate 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. #Application fees will be charged and calculated on a per application and per security basis and includes the cost of one valuation fee only, subsequent valuations will be charged at the standard rate and could incur additional legal fees. Application fee excludes government charges.

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.