Join Australia's most dynamic and respected property investment community

SC increase their rate AGAIN!

Discussion in 'Property Finance' started by WestOz, 15th Nov, 2015.

  1. WestOz

    WestOz Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    625
    Location:
    WestOz
    5th Feb they advise 0.25% decrease, effective 27th Feb
    Suncorp Bank reduces variable interest rate by 0.25% p.a. | Suncorp Bank

    They then ran a big promo for free package for life of loan (believe it finished 30th June?)

    A few days after APRA meeting/announcement, before any others moved
    31st July they advise 0.27% increase, effective 31st August
    Suncorp Bank Increases Interest Rates On Investor Lending | Suncorp Bank

    2nd November they advise 0.16% increase, effective 20th Nov
    Suncorp Bank announces change to interest rates | Suncorp Bank

    0.43% within less than 3 months! (31/08/15 to 20/11/15)
     
  2. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,764
    Location:
    Perth WA
    You'll find all the lenders have done the same, not just SC.
     
  3. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    1,167
    Location:
    Adelaide, SA
    Bingo - unfortunately @WestOz all the lenders have been heading down this path.