Liberty strips its home loan rates and cuts fees

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Tuesday, July 17th 2012, 6:00AM 1 Comment

Liberty Financial has cut its floating home loan rate to a "bank beating rate" of 5.64%. To see how it compares we have sorted the home loan rates table from lowest to highest (on floating rates) here. 

Liberty says there are no upfront, ongoing or valuation fees for qualifying loans with LVRs under 80%, and loans with LVRs over 80% that settle will have their valuation fee reimbursed.

“Banks are clever at offering special deals on their rates to customers who are required to buy multiple bank products,” said Peter Rollason, Liberty Financial‟s Executive Director. “That is great for the banks because it ties the customer to them, and makes it difficult to switch to another lender at a later date. But it‟s not so great for brokers, who put in all the hard yards to help their customers, then lose them to the banks forever.”

“We are as committed to our business partners as we are to our customers. We are one of the last remaining lenders to recognise the hard work and dedication required by brokers in providing an ongoing service to their customers. That‟s why these product changes are not a short term special offer, but here for the long term.”

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