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Aussie Home Loans PRESS RELEASE: 4/4/2001 AUSSIE HOME LOANS CUTS INTEREST RATES FOLLOWING OFFICIAL DROP Australia's biggest non-bank lender, Aussie Home Loans, has announced
a 0.50 per cent cut Aussie Home Loans' cut in its standard variable rate, as well as its
basic variable rate Managing Director of Aussie Home Loans, Mr John Symond, said "This
is the third standard He added, "There is no doubt the global economy has slowed, but the
latest cuts and the For More Information Call: John Symond: Aussie Home Loans: Phone (02) 8297 0701
PRESS RELEASE: 10/2/2001 AUSSIE HOME LOANS PREDICTS ANOTHER 1 PER CENT FALL IN HOME LOANS INTEREST RATES IN 2001 Managing Director of Aussie Home Loans, Mr John Symond, today predicted that home loan interest rates will fall another 1 per cent by the end of 2001 - saving home buyers a further $100 a month on a $150,000 loan. His prediction of a sustained series of cuts throughout 2001 and well into 2002, follows this week's 0.50 per cent fall in official rates - which led Aussie Home Loans to reduce its standard variable and basic variable interest rates. Borrowers with $150,000 mortgages will save $50 a month from this week's drop, with a further $100 a month from the predicted interest rate falls - creating annual savings in the range of $1,800. Mr Symond said "I believe that home owners should continue at their current higher levels of mortgage repayments, as the extra repayments will take years from the life of their loans". He cited the example of home loan customers, who just add $20 a week to their loan repayments and pay on a fortnightly basis, the savings will accrue to $100,000 and take ten years from the 30 year life of the loan. "I expect the housing industry, which has been in the doldrums lately, will get a shot in the arm this year as the cost of mortgages is now cheaper", said Mr Symond. He concluded, "We are returning to a very favourable interest rate cycle for home buyers, which will continue throughout this year and into 2002". For Further Information Call: John Symond: Aussie Home Loans: Ph: (02) 8297 0701
PRESS RELEASE: 7/2/2001 AUSSIE HOME LOANS CUTS INTEREST RATES Australia's biggest non-bank lender, Aussie Home Loans, has announced this morning a 0.50 per cent cut to its standard variable interest rate to 7.45 per cent and 6.99 per cent for its basic variable rate. The move follows the Reserve Bank's move to lower official interest rates this morning. Its new standard variable rate, previously at 7.95 per cent, will save borrowers with $150,000 mortgages about $50 a month. The new rates will apply for new borrowers from tomorrow (February 8) and existing borrowers from Friday week (February 16). Managing Director of Aussie Home Loans, Mr John Symond, said "I am confident that this rate cut is the first of a sustained series of cuts throughout 2001 and well into 2002". He added, "This cut should signal renewed activity and growth in the housing market, where home buyers are expected to take advantage of rates returning to their lowest levels of the last 30 years". For More Information Call: John Symond: Aussie Home Loans: Ph: (02) 8297 0701
PRESS RELEASE: 20/1/2001 AUSSIE HOME LOANS LAUNCHES NEW DISCOUNT LOAN FOR HOME BUYERS Aussie Home Loans has launched a new basic home loan at the low rate of 7.49 per cent, available to both owner-occupiers and investors. The new "no-frills" loan offers better value than any of the banks' basic loan offerings, combining a low variable interest rate with Aussie Home Loans' policy of charging no monthly account maintenance fees. The loan includes few of the added features in Aussie Home Loans' standard variable rate product, but all of these can be accessed as required on a user pays basis, giving customers complete freedom and choice of features they wish to utilise. The loan's interest rate is 0.46 per cent cheaper than Aussie Home Loans' standard variable rate of 7.95 per cent and customers have the ability to choose monthly or fortnightly repayments through direct debit and make unlimited additional repayments at no additional charge, helping them pay off their loans faster. Managing Director, Aussie Home Loans, Mr John Symond said "Our new basic variable rate loan offers a low cost alternative for home buyers seeking one of the best rates available in Australia, with no monthly charges". Aussie Home Loans continues to expand its product range and has further plans for new product roll-outs throughout 2001, providing customers with a wide choice of loans which will fulfil their objectives in owning property. "Aussie Home Loans measures its success on helping customers buy their homes. Our range now offers something for everyone, whether buying for owner occupation of investment. At a time when interest rates are coming down and property buyers are searching for the best deal to suit their individual needs, this product offers a new option with key features and a low rate and will certainly continue to keep the banks honest" added Mr Symond. The basic variable rate loan features include: · Low interest rate of 7.49 per cent Aussie Home Loans' consultants are available to meet borrowers 24 hours a day, seven days a week in all capital cities and major regional centres across Australia. Aussie Home Loans has provided more than $9.5 billion worth of home loans to more than 110,000 customers. For more information:
PRESS RELEASE: 9 / 1 / 2001 AUSSIE HOME LOANS DROPS INTEREST RATES AGAIN Australia's largest non-bank lender, Aussie Home Loans, today dropped its fixed home loan interest rates by up to 0.40 per cent, predicting a fall in variable rates by April 2001. Managing Director Mr John Symond said, "With fixed rates now up to 1 per cent below the standard variable rate, this is a great time for borrowers to consider splitting their home loans. By doing so, they'll get the benefits of a really low fixed rate, whilst continuing to benefit from all the features of the variable product free of charge. Fixing for the short term now clearly offers great savings on interest payments. Standard variable rates need to fall sharply to become more competitive than some of these fixed rates." The rate changes are effective today, 9th January 2001.
For More Information Call: Peta Demery: EA to John Symond: Aussie Home Loans: Ph: (02) 8297 0702
PRESS RELEASE: 18/12/2000 THE EXODUS FOUNDATION AGAIN WELCOMES AUSSIE HOME LOANS MOVE TO HELP THE NEEDY THIS CHRISTMAS AND NEW YEAR WITH FOOD Leading charity organisation, The Exodus Foundation, has again welcomed a major donation by Australia's largest non-bank lender, Aussie Home Loans, to help bring Christmas cheer to Sydney's less fortunate and homeless, through its support of the foundation's annual Christmas lunch and party. Aussie Home Loans is helping The Exodus Foundation at the Ashfield Uniting Church, by donating food for its Christmas day lunch for over 3,000 people, as well as during the New Year. The donation is one of a series being made by Aussie Home Loans to a number of charities across Australia, including Mission Australia in Newcastle and Brisbane, the Wesley Community Care Centre in Wollongong, Centacare in the ACT and the Salvation Army in Melbourne. This year's Exodus Foundation Christmas lunch is expected to attract a record number of Sydney's homeless, poor, lost and abandoned individuals and families, who can not afford to celebrate the year's most important and holy day. The Exodus Foundation's Reverend Bill Crews, said "As was the case for the last two year's Christmas lunches, Aussie Home Loans' very generous donation is greatly appreciated and will assist us enormously in providing food for the needy this Christmas and during the New Year, with thousands of young and old people to benefit from this most generous offer." Managing Director of Aussie Home Loans, Mr John Symond, said "We are delighted to once again support the Exodus Foundation, which continues to do such fantastic work throughout Sydney. Aussie Home Loans' staff have a firm belief in helping the needy and to this end our own "We'll Save You Foundation" continues to provide support to numerous charities and support groups. "Just as Aussie Home Loans is determined to provide borrowers with quality service, so are we determined to put something back into the community, through our support of the less fortunate," he added. The Exodus Foundation provides a variety of essential services to the needy, some of whom travel from Wollongong and Newcastle. In addition to its free restaurant, which operates six days a week and on special Sundays, the foundation also provides support services in the form of social workers, chapliancy, food parcels, welfare assistance and a literacy program for children. For Further Information Call: The Rev. Bill Crews: The Exodus Foundation: Ph: (02) 9799 2811
PRESS RELEASE: 21/12/2000 AUSSIE HOME LOANS' CUSTOMERS GET FIVE STAR CREDIT CARD Aussie Home Loans' credit card, The Aussie Card, has been given the highest possible rating of five stars by financial rating group, Cannex. The Aussie Card, which has an introductory interest rate for home loan customers of just 6.5 per cent, per annum, provides the perfect back-up to Aussie Home Loans' range of Standard Variable Rate and Fixed Interest Rate home loans. Those who do not have an Aussie home loan, pay an introductory rate of just 9.99 per cent, per annum, while both categories of customers are charged 15.29 per cent, per annum thereafter - which is still substantially lower than the major banks' comparable cards with interest free periods and reward point programs. Founder and Managing Director of Aussie Home Loans, Mr John Symond, said "The Cannex survey shows that we deliver our customers the perfect combination of financial products to manage their biggest investment - buying their homes, as well as their everyday purchases through the card". The card's extensive range of features and keen pricing attracted the five stars from Cannex for moderate users of the card (ie. $665 a month). Cannex studied 224 other credit cards from over 70 other financial institutions in Australia. Cannex's ratings cover two major parts - the expenditure patterns of card users and the historical performance of interest rates, as well as the features like interest free days and rewards points. Mr Symond said, "Once again we offer Australians the opportunity to get a better deal by breaking the shackles of the banks, which are continuing to lift their fees and charge excessively high interest". The Aussie Card combines According to the Reserve Bank of Australia Bulletin last month, Australians carry over $9.4 billion worth of credit card debt. Mr Symond said, "This statistic clearly shows that consumers can save hundreds of dollars by using cards like The Aussie Card, where they may not have to pay interest for up to 55 days and don't get stung by excessive interest charges in those months where they may not receive an interest free period. The card has been tailored to be a perfect complement to Aussie Home Loans' home loan products, which now are used by more than 120,000 customers around Australia. For Further Information Call: John Symond: Aussie Home Loans: Ph: (02) 8297 0701
PRESS RELEASE: 7/12/2000 AUSSIE HOME LOANS DROPS INTEREST RATES AND FLAGS FURTHER FALLS IN THE EARLY NEW YEAR Mr John Symond, Founder and Managing Director of Australia's biggest non-bank lender, Aussie Home Loans, announced today that variable home loan interest rates will fall by April, 2001, as the company again slashes its fixed interest rates. Aussie Home Loans today dropped its fixed rates by 0.35 per cent, and follows drops in wholesale interest rates, signs that the US economy will continue to slow and a reduced threat of inflation- all of which have a flow-on effect to Australia. The rate changes, effective on December 8, 2000, positions Aussie Home Loans' fixed interest rates well below the Standard Variable Rates of the company and other major lenders. Mr Symond said, "The sharp drop in our fixed rates confirms our leadership position in the home loan market, and our competitors are sure to follow with lower rates. This is great Christmas news for home buyers seeking to lock in low rates for up to five years or split their loans between fixed and variable rates. Interest rates are set to fall towards their 30 year lows and provide a great boost to the housing industry and home buying throughout Australia".
For More Information Call: John Symond: Aussie Home Loans: Ph: (02) 8297 0701
PRESS RELEASE: 17/11/2000 AUSSIE HOME LOANS SIGNALS LOWER INTEREST RATES Australia's biggest non-bank lender, Aussie Home Loans, has predicted that interest rates may have peaked, with a drop in official rates expected in the first quarter of 2001. The prediction comes as Aussie Home Loans today dropped its fixed rates by up to 0.25 per cent, and follows Federal Treasury and Reserve Bank comments earlier this week that interest rates may have peaked. The rate changes, effective on November 20, 2000, put Aussie Home Loans' fixed interest rates below its Standard Variable Rate and offers good news for home buyers seeking to lock in low rates for up to five years or split their loans between fixed and variable rates. Managing Director of Aussie Home Loans, Mr John Symond, said "Both our fixed and Standard Variable Rates are expected to fall again over the next six months, in the event that inflation continues to be contained, ensuring home loans remain affordable in the foreseeable future". Aussie Home Loans' New Fixed Rates:
For Further Information Call: John Symond: Aussie Home Loans: 0417 12 13 33
PRESS RELEASE: 27/10/2000 AUSSIE HOME LOANS OPENS SYDNEY "BRANCHES" AS BANKS CLOSE THEIRS At a time when the major banks are closing their branches in Sydney and reducing their level of personal service, Australia's largest non-bank lender Aussie Home Loans has opened 20 new Sydney "branches" in the last month. Aussie Home Loans has deployed 24 new loans consultants over the last month to visit home buyers, 24 hours a day, seven days a week across Sydney. The company now has 65 loans consultants across Sydney and 197 across the rest of Australia who are making 10,000 visits to home buyers each month. Managing Director of Aussie Home Loans, Mr John Symond, said "Unlike the banks, who are discouraging any contact with customers through branch closures and continuing promotion of electronic banking, we encourage our customers to contact us". He added, "The expansion of our personal services is complemented by the upgrade of our national contact centre and web site, delivering a range of service points for customers, dependent on their needs". Aussie Home Loans' new web site contains wide ranging information about its range of products, current interest rates, as well as tips on home buying and re-financing, but the cornerstone of the operation will continue to be personal contact between the borrow and the lender. Over the last eight years, Aussie Home Loans has written more than $9 billion worth of loans across Australia to about 120,000 customers, who appreciate the company's personal service, low rates and no fees or charges. Mr Symond said, "Our research clearly shows that home buyers still want the comfort and security of face to face contact when selecting, negotiating and signing up for a mortgage". His comments are backed up by a recent research study into "Financial Services On The Net", conducted by The Financial Research Company. The report, which was commissioned by a number of lenders, shows that home buyers still want personal service and advice when applying for what is the largest investment of their lives. For More Information Call: John Symond: Aussie Home Loans: Ph: (02) 8297 0701
PRESS RELEASE: 19/10/2000 AUSSIE HOME LOANS SUGGESTS CONSUMERS SHOP AROUND FOR ALTERNATIVES OR FACE HIGHER BANK CHARGES Managing Director of Australia's largest non-bank lender, Aussie Home Loans, Mr John Symond, today suggested bank consumers should shop around for their home loans and other finance products, or face further rises in fees and charges from the banks. "There is no doubt that the banks are disguising their lower home loan rates through monthly mortgage charges and higher transaction costs on a range of other accounts", he said. Mr Symond said, "Consumers should be aware that if they shop around, they can get a better deal where they pay no monthly fees and no charges on facilities like re-drawing their mortgages, as well as enjoying extended interest free periods on their credit cards - all delivered through Aussie Home Loans and a number of other non-bank organisations". He added, "This latest round of fee rises should provoke consumers to invest their time in looking for alternative arrangements and perhaps split their finance needs between a range of suppliers". Mr Symond said, "The banks have been forced to go on the attack with fees to make up the shortfall in their loss of margins and market share in the home loan area, as consumers are waking up to this sleight of hand and seeking better deals". Customers of Aussie Home Loans and some other non-bank financial groups do not pay any ongoing fees or charges on standard variable rate or fixed rate loan products, with facilities such as redraw and the ability to split loans or transfer to interest only loans available at no extra cost. A bank customer who uses a minimal number of basic facilities with his or her home loan over a year, like pperforming performing a redraw and splitting between variable and fixed rates,the loan in a year will be charged up to up to$600, which adds thousands of dollars during the term of the loan. In contrast, Aussie Home Loans' customers receive these services for free of charge. For more information: John Symond: Aussie Home Loans: Ph: (02) 8297 0701
PRESS RELEASE: 9/6/2000 AUSSIE HOME LOANS SAYS INTEREST RATES MAY HAVE PEAKED IN 2000 Australia's biggest non-bank lender, Aussie Home Loans, has signalled that interest rates may have reached a peak for the rest of 2000. The easing of rates in the world bond markets, which has caused the fixed rates of Aussie Home Loans and other lenders to fall over the last week, is good news for nervous home buyers and sharemarket investors, many of the latter group seeing the value of their portfolios fall in recent weeks. Managing Director of Aussie Home Loans, Mr John Symond, said: "While fixed rates are falling, I don't believe home buyers should rush into locking up their rates. Both fixed and standard variable rates are still at very affordable levels - close to 30 year lows and may even fall over the next nine months, as conditions become more subdued in the housing market and the rest of the economy". He added, "If people are concerned about potential rate rises, they should consider splitting at least part of their mortgages between fixed and variable rates, a facility available to Aussie Home Loans customers at no charge". Meanwhile the real estate market, especially the new home sector, is showing signs of slowing, following recent interest rate rises and the impending GST. Mr Symond said, "The old saying, 'buy in doom, sell in boom', applies in some areas of the real estate market, offering opportunities to the astute purchaser. "Home builders can also benefit from depressed conditions in the construction industry, as builders will be very keen to offer competitive packages, coupled with a range of new construction finance deals in the market, including the new Aussie Home Builder Package, offering a discounted interest rate and other benefits, such as deferring mortgage repayments during the construction period". For More Information Call: John Symond: Aussie Home Loans: (02) 8297 0701; (0417) 13 13 33
PRESS RELEASE: 1/6/2000 AUSSIE HOME LOANS MAKES HOME BUILDING EASY WITH NEW PACKAGE Recognising the increasing expense of building your own home, Aussie Home Loans has today launched the Aussie Home Builder Package, specifically designed to relieve the financial burden of construction. The Aussie Home Builder Package gives borrowers the option to capitalise their repayments for up to six months and features an interest rate during construction at one per cent lower than Aussie's standard variable rate, freeing up vital funds for other purposes. Managing Director of Aussie Home Loans, Mr John Symond, believes this package will be very attractive to consumers and will encourage activity in the building industry, which is stalling due to interest rate rises and the impending GST. "The Aussie Home Builder Package will allow people to build their own home, without having to make loan repayments until they move into the property, making construction more affordable in an environment of uncertainty. This, coupled with a lower interest rate (currently 6.70 per cent), allows people to continue meeting current living expenses such as rent or other mortgage repayments whilst building their home," Mr Symond said. The Aussie Home Builder Package is available for three months and includes the option of an Aussie Credit Card and 15 months of Aussie Home Insurance for the price of 12 months, delivering continued savings. "We have listened to the Australian public and delivered them a winning combination in the Aussie Home Builder Package. The discounted interest rate, capitalised interest payments, the low interest rate Aussie Card and 15 months Aussie Home Insurance for the price of 12 months, is the best construction package available to Australians," Mr Symond said. The Aussie Home Builder Package follows the successful launch of Aussie Asset Power, and is the next in a range of innovative products designed to meet the needs of specific market segments. For more information call: John Symond: Aussie Home Loans: Ph: (02) 8297 0701; 0417 13 13 33
PRESS RELEASE: 11/5/2000 AUSSIE HOME LOANS REACHES $9 BILLION MILESTONE AND MAKES STRONG INROADS INTO CREDIT CARD AND INSURANCE MARKETS Aussie Home Loans has today announced the company's total loan home book now exceeds $9 billion, the sixth largest home lender in the Australian market servicing over 120,000 customers. Aussie has also made strong inroads into the general home insurance and credit card markets with 30,000 customers now using Aussie Home Insurance and/or The Aussie Card. Managing Director, Aussie Home Loans, Mr John Symond, said "Aussie's pioneering of home visits coupled with its competitively priced, high quality product offerings have been the recipe of Aussie's success over the last eight years." He added, "Aussie has been very successful with our team of mobile loans consultants making up to 10,000 field visits per month, as well as other distribution channels, such as our call centre. Complementing these channels are our e-business activities that will enhance our distribution, product offering and customer service. It is important for our customers to be able to communicate with Aussie any way they choose - in person, or via phone, fax, email or the Internet." Aussie continues to seek and develop strategic alliances to provide a wider range of innovative products and services to existing and new customers, following the success of The Aussie card and Aussie Home Insurance. "We have found our new products to be very popular with both the general public and our existing home loan customers, because of their features and competitive rates and charges, all supported by our superior customer service. "We have effectively broken the monopoly of the banks in home loans and we are now providing much needed competition in the credit card and insurance markets, by delivering low cost, high quality products and services,"Mr Symond concluded. For more information: John Symond: Aussie Home Loans: Ph: (02) 8297 0701; 0417 13 13 33
PRESS RELEASE: 8/5/2000 AUSSIE HOME LOANS LIFTS STANDARD VARIABLE RATE Australia's largest non-bank lender, Aussie Home Loans, has today lifted its standard variable interest rate by 0.25 per cent from 7.45 per cent to 7.70 per cent, following the Reserve Bank's rise in official interest rates last week. Despite the rise, Aussie Home Loans' Standard Variable Rate continues to be lower than the major banks and will take effect for new and existing borrowers from Tuesday, May 9 2000. Managing director of Aussie Home Loans, Mr John Symond said: "Although we've recently experienced a number of interest rate increases, I believe home ownership in Australia is still very affordable and should remain so." For More Information Call: John Symond: Aussie Home Loans: Ph: (02) 8297 0701; 0417 13 13 33
PRESS RELEASE: 5/5/2000 AUSSIE HOME LOANS JOINS CONSUMER OUTCRY ON BANK CHARGES Australia's largest non-bank lender, Aussie Home Loans, has joined the public outcry into the huge income being earned by banks at the expense of their customers. Founder and Managing Director of Aussie Home Loans, Mr John Symond said: "The huge growth of bank fees and charges, reflected in the banks' interim profit results this week, indicate that they are excessively charging Australian consumers. "When we commenced operations in 1992 the banks were forced to reduce margins on their home loans to be competitive. Now they are charging fees on many of the their services to make up the shortfall in their margin loss, whilst continuing the pretence that their standard variable rate products are competitive," Mr Symond said. Aussie Home Loans' customers do not pay any ongoing fees or charges on standard variable rate or fixed rate loan products, with facilities such as redraw and the ability to split loans or transfer to interest only loans available at no extra cost. "A bank customer who uses a minimal number of basic facilities with his or her home loan over a year, like performing a redraw and splitting between variable and fixed rates, will be charged up to $600, which adds thousands of dollars during the term of the loan. In contrast, Aussie Home Loans' customers receive these services free of charge", he added. "Based on interim results bank customers can only expect to receive even poorer service, higher fees and charges and fewer branches where they can get service. It is obviously better to be a shareholder of the banks than a customer," Mr Symond concluded. For more information: John Symond: Aussie Home Loans: Ph: (02) 8297 0701; 0417 13 13 33
PRESS RELEASE: 1/5/2000 AUSSIE HOME LOANS SLAMS SECRET COMMISSIONS Australia's largest non-bank lender, Aussie Home Loans, has slammed the secret commissions and kickbacks - now prevalent in the home lending industry. Mr John Symond, founder and managing director of Aussie Home Loans, said "Both banks and non-bank lenders are now paying up to $1,000 to real estate agents, solicitors, private individuals and a range of other parties as secret commissions to push business their way". He added, "While the recently introduced Credit Act has forced disclosure of commissions in loan documents, it does not include exposure of the kick-backs and commissions being paid by them to third parties, who refer loans to them". Aussie Home Loans, which has a policy of not paying any commissions to third parties, believes the Australian Competition and Consumer Commission should investigate the practice, which is bringing all home lenders into disrepute. "The payment of secret commissions is another indication of the desperation of bank and non-bank lenders to attract business in a market which has become fiercely competitive", said Mr Symond. He concluded, "All loan documents should fully disclose all the commissions paid to any party involved in the transaction, as they currently fall well short of the mark". For Further Information Call: John Symond: Aussie Home Loans: Ph: (02) 8297 0701
PRESS RELEASE: April 18, 2000 AUSSIE HOME LOANS DROPS FIXED RATES AGAIN AS INVESTORS SEEK SAFE HAVEN IN PROPERTY MARKET Australia's biggest non-bank lender, Aussie Home Loans, has reduced rates on its fixed interest rate products for the second time in three weeks and expects a move to residential property as sharemarket investor's search for a safe haven. Aussie Home Loans' new fixed rates have fallen by up to 0.26 per cent as funds flow from the equity markets to bond markets globally. The new rates are effective from 19 April, 2000. Founder and Managing Director of Aussie Home Loans, Mr John Symond, said: "Australia continues to enjoy low affordable interest rates by world standards and I firmly believe the interest rate outlook for Australia remains positive. "The volatility of the equities market should see investors move to the safer bond market, perhaps resulting in even further falls in fixed interest rates. I again caution people against rushing into fixing their interest rates," Mr Symond said. "Investors will also start to re-focus on the strong yields and security good quality residential and commercial property deliver, especially in capital cities," he concluded. For More Information Call: John Symond: Aussie Home Loans: Ph: (02) 8297 0701; (0417) 13 1333
PRESS RELEASE: 10/4/2000 AUSSIE HOME LOANS LIFTS STANDARD VARIABLE RATE BUT EXPECTS INTEREST RATES TO DROP BY THE END OF THE YEAR Australia's largest non-bank lender, Aussie Home Loans, has today lifted its standard variable interest rate by 0.25 per cent from 7.20 per cent to 7.45 per cent, following the Reserve Bank's rise in official interest rates last week. Despite the rise, Aussie Home Loans' Standard Variable Rate continues to be lower than the major banks and will take effect for new and existing borrowers from Wednesday, April 12. Managing director of Aussie Home Loans, Mr John Symond said, "While Aussie Home Loans has no choice but to increase our standard variable rate, we believe there will soon be further falls in our fixed rate products. "There is also a strong possibility of a drop in the standard variable rate by the end of the year, especially if there is a long-awaited correction in world equity markets," he said. Mr Symond added, "I advise home loan borrowers not to panic about rising interest rates and rush into fixing their mortgages, as there is a strong prospect of lower rates. We continue to enjoy some of the lowest interest rate levels for the past 30 years and I expect interest rates to remain low and stable in Australia for the next 2 years." Standard Variable Rate: Aussie Home Loans:7.45 per cent
ANZ: 7.55 per cent Commonwealth: 7.55 per cent National Australia Bank: 7.55 per cent For More Information Call: John Symond: Aussie Home Loans: Ph: (02) 8297 0701; 0417 13 13 33
PRESS RELEASE: 3 / 4 / 2000 AUSSIE OUT POWERS THE MARKET Aussie Home Loans continues to deliver Australian firsts, today launching Aussie Asset Power, a new approach to home lending delivering substantial benefits to consumers. Aussie Asset Power offers a lower variable rate directly linked to the bank bill rate - the only bank bill linked product in the residential lending market guaranteed not to exceed the standard variable rate with interest only repayments for the entire term of the loan. Managing Director, Aussie Home Loans, Mr John Symond said Aussie Home Loans is taking a different approach to continue giving Australians the opportunity to reap the benefits of property ownership. "Aussie Asset Power includes the trademark Aussie features, such as split loan, redraw facility and no limitation on extra repayments, all at no extra cost. Added to this is the innovation of interest only repayments and a bank bill linked rate - the best possible rate for borrowers as it is linked to the pure market rate. "Unlike other home loans, Aussie Asset Power is completely transparent. The borrower pays the bank bill rate plus 1.35 per cent - which is guaranteed for the life of the loan. Borrowers feel secure because they know the rate will not be increased to include other margins, such as risk margins, which are often charged by banks." An Aussie Asset Power customer would currently pay 6.96 per cent, based on the March 15 bank bill rate of 5.61 per cent (Aussie Asset Power is adjusted on the 15th of each month). "This is 0.24 per cent below Aussie's standard variable rate, which is in turn, lower than the banks' standard variable rates," Mr Symond said. Aussie Asset Power's features include: · Discounted variable rate linked to 30-day bank bill rate "The customer chooses how to use their funds by either making principal repayments, or investing in shares or managed funds - whatever is most beneficial according to their needs. They are in control of their funds, which is the way it should be," he said. Unlike the other market players that offer rate discounts for certain professionals, Aussie Asset Power is available to any borrower meeting the lending criteria, it does not discriminate according to profession. "It's ridiculous that the banks offer better products to certain professionals," Mr Symond continued. "At Aussie we believe everyone is entitled to quality products and this is what we deliver to our customers. "Aussie is committed to being the preferred provider of a range of innovative products and services specialising in home ownership. This product is the first of several exciting products to be launched over the next few months," Mr Symond said. For more information: John Symond: Aussie Home Loans: Ph: (02) 8297 0701; 0417 13 13 33
PRESS RELEASE: 26/2/2000 AUSSIE HOME LOANS CALLS FOUL ON BANKS AND HOLDS CARD RATE Aussie Home Loans has declared the banks are "unfairly milking" consumers with their latest increases in credit card rates, which are up to 3 per cent higher than they should be. Founder and Managing Director of Aussie Home Loans, Mr John Symond said, "The latest moves of the banks in lifting their rates, while we hold our own rate at 13.85 per cent for the Aussie Card, clearly shows they mistakenly believe they can continue to treat their customers with contempt, just as they did for decades with home loans". He added, "As they continue to do with home loans, customers should vote with their feet and move their cards to competitors like Aussie Home Loans, as this will force the banks to compete for the first time in this sector". On top of this week's card rate changes to as high as 16.95 per cent, some banks are changing the way they are calculating interest repayments and charging excessive annual fees - which is also increasing the cost to consumers. "Our research shows that most credit card customers do not know what rate they are being charged, allowing the banks to charge them 2 per cent to 3 per cent more than they should be in the current climate", said Mr Symond. Launched last September, the Aussie Card has an interest rate of just 6.5 per cent for eight months from the account opening, when it reverts to 13.85 per cent. Meanwhile the $25 annual fee is waived for all Aussie Card customers in the first year and waived in future years if cardmembers charge more than $5,000 per year to the card - another major saving. The Aussie Card has a 55 day interest free period and outweighs its competitors in terms of customer benefits, features and services, including a rewards program linked to Qantas, Air New Zealand, hotel accommodation, Mitsubishi, cinemas, gyms, restaurants and a wide range of other travel, retail and entertainment establishments. * Home loan customers of Aussie Home Loans will pay an annual interest rate of 6.5% p.a. for eight months from the account opening, thereafter reverting to 13.85% p.a. Customers without an Aussie Home Loan will pay an annual interest rate of 8.95 % p.a for six months from the account opening, thereafter reverting to 13.85% p.a. For further information call: John Symond, Aussie Home Loans Tel: (02) 9840 6009 (0417) 13 13 33
PRESS RELEASE: 7/2/2000 AUSSIE HOME LOANS LIFTS STANDARD VARIABLE RATE Australia's largest non-bank lender, Aussie Home Loans, has today lifted its standard variable interest rate by 0.60 per cent from 6.60 per cent to 7.20 per cent, following the Reserve Bank's rise in official interest rates last week. The rise, which will also cause the Aussie Equity Loan rate to lift from 6.85 per cent to 7.45 per cent, comes amid continued upward pressure on interest rates in the local money market and will take effect for new and existing borrowers from today, February 7, 2000. Managing director of Aussie Home Loans, Mr John Symond said, "Aussie Home Loans' new standard variable rate continues to be lower than all the banks' standard variable rates, while the company's policy of not imposing ongoing monthly fees and charges remains in place. "We have had to lift our rate higher than the Reserve Bank's increase because unlike the banks, which have the advantage of accessing their deposit bases for their mortgage funding, most non-bank lenders are reliant for their funding on the money markets. The markets have experienced several months of volatility", he added. "For the last several months, the margin between standard variable home loan rates and the money market rates has been slashed to unsustainable levels and we have had no choice but to move higher than the official rate change", said Mr Symond. He concluded, "Australian home owners continue to enjoy mortgage rates near their lowest levels in the last 30 years and we expect borrowers to continue to enjoy low and stable rates for the rest of the year". Standard Variable Rate Aussie Home Loans 7.20 per cent For More Information Call: John Symond: Aussie Home Loans: Ph (02) 9840 6009
Press Release: 25/1/2000 AUSSIE HOME LOANS LIFTS FIXED RATES Australia's biggest non-bank lender, Aussie Home Loans, has followed the moves by most other lenders to raise its fixed rates marginally, reflecting rate increases in the bond markets around the world. The new rates are effective on January 25, 2000. New Rates Table One Year 7.75 per cent Two Years 8.25 per cent Three Years 8.50 per cent Four Years 8.65 Five Years 8.75 per cent For More Information Call:
PRESS RELEASE: 5/11/99 AUSSIE HOME LOANS LIFTS STANDARD VARIABLE RATE Australia's largest non-bank lender, Aussie Home Loans, has today lifted its standard variable interest rate 0.25 per cent from 6.35 per cent to 6.60 per cent, following the Reserve Bank's rise in official interest rates last Wednesday. The rise also comes amid continued upward pressure on interest rates in the local money market, and will take effect for new and existing borrowers from November 15, 1999. Managing director of Aussie Home Loans, Mr John Symond said, "Aussie Home Loans' new standard variable rate continues to be lower than all the banks' standard variable rates, while the company continues its policy of not imposing ongoing fees and charges". Standard Variable Rate Aussie Home Loans 6.60 per cent John Symond: Aussie Home Loans: Phone (02) 9840 6009
AUSSIE HOME LOANS PROFILE Since establishing Aussie Home Loans in February 1992, John Symond has built the company into Australia's largest non-bank lender, with operations spanning all mainland capital cities and major regional centres. Aussie Home Loans now provides up to $300 million in new home loans each month, with its loan portfolio now totalling about $8.5 billion. The company is widely credited with pioneering competition in Australian home lending, which until its inception, was the sole domain of the banks. Founder and Managing Director of Aussie Home Loans, Mr John Symond, continues to be a driving force behind Aussie Home Loans, which has delivered savings worth tens of millions of dollars for families who have either switched to the non-banker's lower rates or negotiated a lower rate with their existing bank, creating an average saving of $200 per month. Aussie Home Loans was established following the success of non-bank home lenders in the US, which have been in operation for more than 25 years and now account for about 70 per cent of all home loans. Aussie Home Loans' introduction of a range of home loan product features and low interest rates has created innovation, competition and higher service standards in the Australian home loan market. Aussie has created a series of firsts in Australian home lending:
Aussie Home Loans is currently embarking on providing a range of other competitive financial products, including home and contents insurance. The company now directly employs hundreds of people and has indirectly created jobs for thousands of Australians, who are involved in associated organisations with the company. Aussie Home Loans has recently established the `We'll Save You Foundation', which is specifically targeted to assist disadvantaged and homeless children. The first major donation of the charity was for Sydney City Mission's Missionbeat vans, while the company also sponsors the secondary schools' Rugby League competition, the Aussie Home Loans Cup. Aussie Home Loans offers free of charge, no obligation home or office visits seven days a week. Borrowers can call Aussie Home Loans' toll-free hotline on 13 13 33 for home loan advice and products. Issued By: Tim Allerton
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