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MEDIA RELEASE
11 October 2010
Homeloans Ltd bucks the trend
Mortgage rate reduced by 0.31 per cent
National mortgage provider Homeloans Ltd today announced it has dropped the rate on its popular full-
doc MoniPower loan by 0.31 per cent.
Greg Mitchell, Homeloans’ general manager retail, calls the move “a positive development at a time
when borrowers are expecting bad news.”
“It’s widely expected the Reserve Bank will decide to increase interest rates when it meets in
November,” Mitchell says. “In addition, pundits are predicting that major banks will soon be lifting rates
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over and above any official tightening in interest rates by the RBA – but we’ve bucked the trend and
done the opposite.
“This further demonstrates that Homeloans is continuing to consolidate its position as a competitive
alternative to the banks.”
The Homeloans MoniPower loan is a fully-featured loan with 100 per cent offset facility, no monthly or
annual fees and very flexible credit criteria. It now sits at a very competitive 6.79 per cent, alongside the
Homeloans Ultra which starts at 6.59 per cent.
About Homeloans Ltd
Founded in 1985 and listed on the Australian Stock Exchange in 2001, Homeloans Ltd (ASX:HOM)
specialises in home loans, and has a wide range of products to meet the needs of all types of customers,
from first home buyers to investors.
With an Australia-wide presence, Homeloans provides a refreshing alternative to the banks for home
finance. The mortgage provider has a clear focus on customer service, and has won a number of industry
accolades including the Mortgage and Finance Association of Australia (MFAA) Mortgage Manager of the
Year Excellence Award 2009 and 2010.
Homeloans offers a generous customer benefits program and is proud to support Carbon Conscious,
planting a tree for every Homeloans loan settled.
For further information:
Lisa Llewellyn
Llewellyn Communications
m: 0419 401 362
e: lisa@llewcom.com.au
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