1800 877 741 Every Monday 6:30PM - Channel 31
1800 877 741 Every Monday 6:30PM - Channel 31
The cash rate decision for May has been announced by the RBA with the rate unchanged at 0.25%.

Vast majority of economists have gestured that the current cash rate which is one of the lowest in history, is the absolute floor rate and reductions to this cash rate may not occur without significant reasoning.

We have also heard that the RBA will not change the cash rate until if sees a significant recovery of the Australian economy. It will not jeopardise what has occurred during this unprecedented pandemic by increasing the cash rate without seeing the balancing effect.

Since the RBA decreased the cash rate twice in March, its regular monthly decision and the unprecedented decision, we have seen a change in rates however what do these rates look like overall and how does your current lender stack up.

Dollars with Sense and its team of experts reviewed the top 20 based purely on interest rate from the lenders we are connected with, to show you what is on offer. These products may vary from basic to standard to package deals.

For our example, we looked at a $400,000 loan against at property value of $600,000, which equated to a loan to value ratio under 80%. We are looking at principal and interest repayments. We have used both owner-occupied and investment rates for your reference and we note that each lender will have its own criteria and exemptions that you will have to research before making an informed decision.

Lender Product Owner Occupied Lending Rate
 

Classic Home Loan Owner Occupied Special

 

2.55% (Intro for 12 months ONLY)

Premium Package Clean Energy <70% LVR $150k – $500k Owner Occupied P&I 2.63%

 

Edge Standard Variable >$200k (<80% LVR) Owner Occupied P&I Special 2.70%
Basic Mortgage Owner Occupied <80% LVR $350k+ P&I 2.71%
Simplicity Plus <80% LVR Owner Occupied P&I 2.72%
Complete Variable Home Loan (<80% LVR) $200k+ Owner Occupied P&I Special 2.73%
RBA Rate Tracker Home Loan 2.74%
Basic Home Loan Promotional Rate 60% – 80% LVR Owner Occupied P&I 2.74%
Term Home Loan Variable Owner Occupied Special P&I OR 100% Offset Home Loan Variable <90% LVR Owner Occupied Special P&I 2.75%
AMP Essential Home Loan <80% LVR Special 2.77%
Discount Variable Home Loan <80% LVR Owner Occupied 2.78%
Discount Plus Home Loan Owner Occupied <80% LVR P&I Special 2.78%
Back to Basics Better Together Bundle Owner Occupied <90% LVR P&I Special 2.78%
Mortgage Simplifier $150k – $500k (<80% LVR) Owner Occupied P&I 2.78%
Extra Home Loan <70% LVR Owner Occupied P&I 2.79%
Intro Rate Variable Home Loan <80% LVR Owner Occupied P&I Special 2.79% (Intro for 24 months ONLY)
Achieve Variable $250K- $500K Owner Occupied P&I 2.80%
Resimac Prime Flex <80% LVR Owner Occupied P&I 2.81%
Basic Variable <80% LVR Owner Occupied P&I 2.83%
Base Variable Home Loan <80% LVR Owner Occupied P&I Special 2.84%

 

Lender Product Investment Lending Rate
Term Home Loan Variable <90% LVR Investment Special P&I  OR 100% Offset Home Loan Variable <90% LVR Investment Special P&I 2.99%
Basic Home Loan <90% LVR $200k+ Investment P&I Special 3.00%
Basic Variable <80% LVR Investment P&I 3.03%
Basic Mortgage Investment <80% LVR $350k+ P&I 3.04%
Edge Standard Variable >$200k (<80% LVR) Investment P&I Special 3.04%
Resimac Prime Flex <80% LVR Investment P&I 3.06%
Back to Basics Better Together Bundle Investment <90% LVR P&I Special 3.08%
Discount Variable Home Loan Investment <80% LVR P&I 3.08%
Intro Rate Variable Home Loan <80% LVR Investment P&I Special 3.09% (Intro rate for 24 months ONLY)
Premium Package Clean Energy <80% LVR $400k – $700k Investment P&I 3.11%
Achieve Variable $250k – $500k Investment P&I 3.11%
Simplicity Plus <80% LVR Investment P&I Special 3.12%
Flexible Home Loan Member Package Investment <80% LVR $400k – $700k P&I 3.13%
Home Package Plus $150k+ <80% LVR Investment Special P&I 3.14%
Mortgage Plus Standard Variable 100% Offset Investment <80% LVR $350k+ P&I 3.14%
Base Variable Home Loan <80% LVR Investment P&I Special 3.14%
Mortgage Simplifier $150k+ (<80% LVR) Investment P&I 3.19%
 

Classic Home Investment Loan

3.19%
Total Home Loan Package Special Variable ($50k+ <=80% LVR) Investment 3.20%
Basic Home Loan 70% – 80% LVR Investment P&I 3.24%

Dollars with Sense and its team of experts believe in finding out where you are today, what you would like to do in the future and find solutions based on YOUR needs. Rate based analysis may work for some however in our experience we find its not only rate that assist our customers save money and go on to buying property.

Book your free no obligation consultation today simply by clicking on the link provided and completing your details.

Testimonials

I highly recommend Dallas and his team of experts at Dollars with Sense to everyone out there who wants to be more adept at financial matters. They provide great insights about investing and planning for the future. With their sensible tips, my super fund is on track to giving me the ideal lifestyle I look forward to. I have security and peace of mind, which is priceless!

SARAH F

One of the things I appreciate the most about the Dollars with Sense team is how they are so honest about financial matters. They are not after promoting a certain kind of investment, but rather, they always emphasise what an average person should consider before jumping into a financial commitment. Dollars with Sense truly opened my eyes towards property investment, and I am so grateful that I get no-nonsense tips from these experts. I hope that Dallas and the team will continue to guide us in all money matters!

LEANNE J