Non-bank lender Better Choice Home Loans has announced a three-month home loan deal for Australian expatriate borrowers.
Better Choice’s offer brings interest rate reductions of up to 0.7% to selected products.
The expat home-loan sector has been overlooked in the past, according to Better Choice director Allan Savins.
“With the looming shadow of Brexit in the UK and the volatile political climate in the US, we are also seeing many (Australians abroad) considering a move back to Australia and looking to take a strategic position now to acquire property in Australia in readiness for their return home,” he said.
For Aussie expat borrowers under a 70% loan-to-value ratio (LVR), the non-bank lender offers a 0.35% cut on its P&I investment loan package, which now has a 3.79% interest rate.
There is a 0.7% cut on its interest-only investment loan, which now offers an interest rate of 3.99%, while the owner-occupied package has been reduced by 0.2% to 3.59%.
Applicants borrowing under 80% LVR will enjoy a 0.35% reduction on Better Choice’s P&I investment loan package, which now has an interest rate of 3.94%.
The interest-only investment loan has been reduced by 0.7% to 4.09%, while the owner-occupied package 0.2% to 3.79%.
The non-bank lender’s partnership with BNK Banking Corporation funded its Gold Expat loan products, following its investor loan special announced earlier in August.
