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Investec announces discount mortgage rates for IFAs

Specialist bank Investec Australia has reduced the interest rates on its tailored home loan offering for independent financial advisers.

Advisers will now be able to access home loan packages with rates as low as 4.54 per cent per annum for two-year fixed rates and 4.79 per cent for variable rate loans.

The new interest rates offer follows an announcement by the bank late last year that it would actively target its existing network of independent financial adviser firms as well as the broader adviser services market, offering bespoke personal banking solutions, including LMI-free mortgage options, commercial property lending for SMSFs, and vehicle finance.

The rates reduction reflects the bank’s continuing commitment to provide advisers with flexible, responsive banking offerings designed exclusively for this market, Investec Australia’s head of adviser services Gareth Bird said.

“Our position as a specialist lender allows us to partner with advisers in a way that very few others in the market are able to,” he said.

“We’re pleased to be able to add preferential home loan rates to that offering, and extend even further the range of tailored products we provide to professional IFAs,” he said.

The reduced rates available to IFAs also present an attractive offering given market conjecture that official Reserve Bank interest rates are unlikely to move lower than their current level.

The RBA has held rates at 2.5 per cent since August 2013, and economists are predicting a rise in the medium term, creating an opportunity for advisers to lock in a great value deal.

“As experts in this space we have been able to tailor a home loan offer specifically for advisers,” Mr Bird said, adding that the adviser services team would continue to innovate when it came to offering competitive banking solutions for advisers.

“Over the past six years, we have worked closely with the clients of advisers and are now in the process of broadening our offering to include personalised lending designed for the advisers themselves,” he said.