Bankwest unveils Rate Tracker Ultra
With hefty rate cuts becoming a regular feature at the start of each month, Bankwest has launched a new low-interest home loan that makes it easier to get the most out of the tiny base rate.
The bank’s new Rate Tracker Ultra was launched in time for the Reserve Bank‘s one percentage point cut on Tuesday (January 3rd) and scans the rates offered by the country’s four main home loan providers, promising to beat their average rates by a cool 90 basis points for the first three years.
However, in a sign that BankWest is forecasting more base rate limbo in the coming months, the group set a minimum home loan interest rate of three per cent.
“There’s never been a better time to get a great mortgage deal and we think this is one of the most competitive mortgages available at the moment,” said Selina Duncalf, head of products and strategy at Bankwest.