A number of lenders, including major names like NAB or NAB, raised their fixed rate in anticipation of a rate hike.

These are the top movements by Australian lenders in the last few weeks.

NAB

NAB made changes to its fixed rates on the Choice Package, Tailored Home and Tailored Home loans products.

These changes will impact both investors and owners-occupiers. These changes are in line with the announcements made by it last October.

Here are some of the biggest changes in NAB’s line-up:

NAB Loan Product

Change

Changes in the Advertisement Rate

Comparison Rate

Choice Package Tailored Fixed – P&I 1 yr 150k+

+0.50

2.49% p.a.

4.19% p.a.

Choice Package Tailored Fixed – P&I 5 yrs 150k+

+0.40

3.49% p.a.

4.15% p.a.

Inv Tailored Fixed – P&I 3 yrs

+0.40

3.49% p.a.

4.82% p.a.

Tailored Fixed – P&I 1 yr

+0.50

2.59% p.a.

4.47% p.a.

 

bcu

For investors and owners-occupiers, the standard fixed rate of bcu has been increased by 20bps These are the most significant changes:

bcu Loan Product

Change

New Advertised Rate

Comparison Rate

Investment Fixed P&I 4 yrs

+0.20

2.99% p.a.

3.81% p.a.

Residential Fixed P&I 3 yrs

+0.10

2.39% p.a.

3.63% p.a.

Investment Fixed P&I 3 yrs

+0.05

2.54% p.a.

3.79% p.a.

Residential Fixed P&I 5 yrs

+0.15

2.99% p.a.

3.63% p.a.

For interest-only repayment terms, the standard fixed rate at which investors could access bcu’s portfolio of investments was also increased.

ING

ING has increased the fixed rates for Orange Advantage Residential owners.

Additionally, the lender made adjustments in its fixed rates for owners-occupiers and investors. These are only a few examples of the changes.

ING Loan Products

Change

Advertisement Rate Change

Comparison Rate

Orange Advantage Residential Fixed 4 yrs ≤ 80%

+0.40

3.19% p.a.

3.82% p.a.

Orange Advantage Residential Fixed 3 yrs ≤ 80%

+0.30

2.89% p.a.

3.81% p.a.

Residential Fixed 3 yrs ≤80%

+0.40

3.29% p.a.

3.85% p.a.

Investment Fixed P&I 5 yrs

+0.50

3.59% p.a.

4.31% p.a.

 

BOQ

BOQ has made several adjustments to its fixed rate rates, including the $1 LMI Option and the Discounted Rate. The changes will be beneficial for both residential owners as well as investors.

The following are the biggest increases in BOQ’s fixed-rate line-up:

BOQ Loan Products

Change

Advertisement Rate Change

Comparison Rate

Residential Fixed 3 years 80-85% 1 Low Monthly Indemnity

+0.80

3.34% p.a.

3.30% p.a.

Residential Fixed 2 yrs Discount Rate <80%

+0.25

2.59% p.a.

3.15% p.a.

Investment Fixed P&I 2 yrs Discount Rate <80%

+0.20

2.79% p.a.

3.33% p.a.

Investment Fixed P&I 5 yrs 80-85% $1 LMI Offer

+0.65

3.94% p.a.

3.68% p.a.

 

Bank Australia

Bank Australia has increased fixed rates by as much as 30bps under the Premium Package and Basic loan options. These are the most significant changes:

Bank Australia Loan Product

Change

Advertisement Rate Change

Comparison Rate

Basic Fixed 3 yrs <80%

+0.30

2.90% p.a.

2.49% p.a.

Premium Package Fixed 5 yrs <80%

+0.20

3.20% p.a.

3.05% p.a.

Investment Premium Package P&I Fixed 3 yrs <80%

+0.30

3.20% p.a.

3.21% p.a.

Investment Basic P&I Fixed 5 yrs <80%

+0.20

3.30% p.a.

2.98% p.a.

 

—