CommBank-backed Unloan slices investment home loan rates again
With Australia’s property market running hot, popular online-only lender Unloan has just dropped its investment home loan rates for the second time in the past month.
Following its latest 0.10% p.a. cut, the provider has sliced a total of 35 basis points off its variable investor home loans since the Reserve Bank’s cash rate decision in May.
Unloan now has one of the leading investor rates in our database of 5.69% p.a. (5.60% p.a. comparison rate*).
The digital bank’s comparison rate is highly competitive, and that’s largely thanks to Unloan’s unique loyalty discount, which knocks 0.01% p.a. off your interest rate every year for up to 30 years.
These rates only apply if you have a loan-to-value ratio (LVR) of at least 80% – that’s a 20% minimum deposit. A higher rate of 5.99% p.a. (5.90% p.a. comparison rate*) applies for LVRs above 80%.
Unloan’s investor home loans only come with variable rates, and you can make additional repayments at any time and still access that extra cash again if you need it via the free redraw.
Note that Unloan doesn’t offer interest-only investment loans, so you’ll need to look elsewhere if that’s what you’re after – compare investment home loans below.