In times where many lenders are tightening lending policy one of our lenders has relaxed policy for home loan applicants with an Adverse Credit Report
Minor credit file defaults will now be considered as follows:
One default not exceeding $1,000; and
Paid at least six months prior to the loan application; and
St George Bank have just announced that due to continued higher costs of wholesale funding St George/BankSA will increase the interest rates on its Variable Rate Home Loans (excluding Low Doc loans) by 0.20%pa. This new rate will be effective for both new and existing borrowers from Tuesday 8 July 2008.
St George Variable interest rate Home Loan products which are increasing are;
Historically interest rates have always been on the move, increasing and decreasing as a result of economic climate and market demand.
Historical data would indicate that interest rates will continue to rise and fall in the future.