BSB 806 015

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BSB 806 015

P&N Bank drops investor and owner-occupier fixed rates

12 Jun2020

Customer-owned, P&N Bank, has decreased its investment and owner-occupier fixed lending rates, reducing rates between 0.10% pa and 0.55% p.a. 

P&N Bank’s new fixed rates are among the best in market and are highly competitive at all loan to value ratios for both owner-occupiers and investors.

Effective from 12 June 2020, new investors and owner-occupiers will benefit from lower rates across fixed two and three year loans – both LVR<80% and LVR>80%.

P&N Bank investor principal and interest repayments and investor interest only repayment rate changes are as follows:

  • Two-year fixed rate (investor) LVR<80% - cut by 20 bps to 2.59% p.a. (comparison rate 3.64% p.a.)
  • Two-year fixed rate (investor) LVR>80% - cut by 20 bps to 2.79% p.a. (comparison rate 3.76% p.a.)
  • Three-year fixed rate (investor) LVR<80% - cut by 45 bps to 2.58% p.a. (comparison rate 3.54% p.a.)
  • Three-year fixed rate (investor) LVR>80% - cut by 55 bps to 2.69% p.a. (comparison rate 3.64% p.a.)

P&N Bank owner-occupier principal and interest repayments and owner-occupier interest only repayment rate changes are as follows:

  • Two-year fixed rate (owner-occupier) LVR<80% - cut by 15 bps to 2.19% p.a. (comparison rate 3.57% p.a.)
  • Two-year fixed rate (owner-occupier) LVR>80% - cut by 15 bps to 2.29% p.a. (comparison rate 3.67% p.a.)
  • Three-year fixed rate (owner-occupier) LVR<80% - cut by 10 bps to 2.19% p.a. (comparison rate 3.44% p.a.)
  • Three-year fixed rate (owner-occupier) LVR>80% - cut by 10 bps to 2.29% p.a. (comparison rate 3.54% p.a.)

In announcing the rate changes, P&N Bank Head of Broker & Business Development, Daniel Woods, confirmed that as a customer-owned bank, P&N Bank is committed to providing highly competitive fixed rate options to existing and new customers.

“Fixed rate home loans are an attractive option for investors and owner-occupiers who can benefit from locking in an extremely low rate that offers repayment certainty for a number of years,” Mr Woods said.

"Mortgage Brokers play an important role in helping consumers navigate a complex lending environment and assist in our service offering to West Australians.

“These low rates, underpinned by our strong customer satisfaction and advocacy, make P&N Bank an attractive proposition for Brokers looking to help West Australians save money, receive great service and bank with an organisation that exists solely for customers and not external shareholders."

 

For more information, please visit pnbank.com.au

 

Police & Nurses Limited (P&N Bank) ABN 69 087 651 876 AFSL/Australian Credit Licence 240701. Terms, conditions, fees and charges apply. Comparison rates are based on a loan of $150,000 for 25 years. WARNING: The comparison rates are 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.

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