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Iden Group announce interest rate increase following recent RBA increase

Thu, 2008-03-13 16:58 — Broker

Iden Group announce interest rate increase following recent RBA increase

13 March 2008

With the Reserve Bank increasing the official cash rate by 0.25 percent on Tuesday 4 March, Iden Group funders have also increased their rates on new and existing variable rate loans. Existing borrowers affected will be sent a letter advising them of the rate change.

The changes are outlined below

Adelaide Bank

Adelaide Bank has increased rates by 0.40 percent for all new and existing loans, effective from Thursday 13 March 2008. All contracts printed as from 12th March will reflect the new interest rates.

Challenger

Challenger has increased rates by 0.40 percent on all new and existing loans, effective from Wednesday 19 March 2008 for new loans, and Saturday, 15 March 2008 for existing loans.

Firstmac

Firstmac has increased rates by 0.85 percent for all new loan applications received from Monday 17 March 2008.NB: Deals in the pipeline dated on or before March 17 and which settle on or before April 12 2008 will only be increased by 0.35 percent

ING

ING has increased rates by 0.40 percent for all new and existing loans, effective from Tuesday 12 March 2008. New repayments are effective from 10 April 2008




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