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GOLDFIELDS MONEY today announced it will increase interest rates by 0.15% p.a. for its variable owner occupier loans and 0.40% pa for investor loans. The change for existing loans will be effective 17 December 2015.
The change will see Goldfields Money’s Special Rate Home Loan lift to 4.54% per annum.
Michael Verkuylen, Acting CEO, said the decision to lift rates was made after having considered regulatory requirements, costs of funding loans and the overall competitiveness of Goldfields Money’s home loans.
“This decision reflects the need to balance a range of sometimes competing factors including regulatory requirements, competitive pricing and returns. I think it is important to recognise that home loan rates are still very low by historical standards,” he said.
Information on current interest rates and offers across Goldfields Money’s home loan products is available on the website at www.goldfieldsmoney.com.au.