Lenders have continued to tweak pricing, policies, and product offerings this week. Here’s a round-up of the key changes brokers should be aware of.
This week’s changes span interest rates, fees, lending policies, and refreshed product features, with several lenders updating their offerings ahead of the RBA’s August cash rate decision.
NAB lowers 1- and 2-year fixed home loan rates
National Australia Bank has reduced its one- and two-year owner-occupier fixed home loan rates by up to 20 basis points, with the largest cut applying to its two-year fixed rate, which now sits at 6.34 per cent.
The changes come less than three weeks before the Reserve Bank of Australia’s August cash rate decision and follow a broader trend of lenders repricing fixed-rate products.
According to Canstar, 21 lenders have reduced at least one fixed rate since 1 June, including ANZ and Macquarie, while 11 lenders have increased selected fixed rates over the same period.
Following the changes, NAB’s lowest advertised fixed rate is 6.34 per cent for a two-year term, while ANZ continues to offer the lowest fixed rate among the major banks at 6.29 per cent for two years, according to Canstar.
Firstmac reprices fixed and variable home loan range
Firstmac has reduced a range of fixed and variable home loan rates for new customers, with fixed-rate cuts of up to 40 bps and a 10-bp reduction across its Simple, Standard, and Construction variable home loan products.
Two-year fixed rates have been reduced by 15 bps, three-year rates by 25 bps, four-year rates by 30 bps, and five-year rates by 40 bps, while one-year fixed rates remain unchanged.
Following the changes, owner-occupier principal-and-interest fixed rates now start from 6.74 per cent for two and three-year terms and 6.99 per cent for four and five-year terms.
ING reduces fixed home loan rates for new borrowers
ING has reduced interest rates on a range of new owner-occupier, principal-and-interest fixed home loans by between 10 and 20 bps.
The changes apply to new lending only and are designed to provide eligible borrowers with lower fixed-rate options while locking in repayment certainty.
Westpac relaxes investment lending policy
Westpac has updated its investment lending policy by lowering the minimum deposit requirement and extending the maximum interest-only term available on eligible loans.
Investors can now borrow up to 95 per cent loan-to-value ratio (LVR) with lenders mortgage insurance (LMI), reducing the minimum deposit from 10 per cent to 5 per cent for new and existing investment property loans with principal and interest repayments.
The bank has also increased the maximum interest-only period from 10 years to 15 years for eligible new and existing investment property loans with LVRs of up to 80 per cent.
AMP Bank introduces new company and trust application fee
AMP Bank will introduce a new $2,500 application fee for all new home loan applications involving company and/or trust borrowers submitted from 30 July 2026.
The one-off fee will be charged at settlement and applies on a per-application basis. It will not apply to pipeline or reworked applications submitted before the effective date, while self-managed super fund (SMSF) applications will remain subject to a separate fee structure.
The bank has also advised that selected home lending fees, including its annual package fee and discharge fee, will be updated from 25 August 2026, with further details to be provided.
ANZ suspends Simpler Switch refinance policy
Australia and New Zealand Banking Group (ANZ) has suspended its Simpler Switch policy for external home loan refinances, requiring full income verification for all new external refinance applications lodged from 10 July.
Transitional arrangements apply to applications submitted and deemed sufficient before the effective date, as well as conditionally approved applications that are only satisfying outstanding approval conditions.
However, applications lodged from 10 July, applications involving credit-critical changes such as increased borrowing, and applications that are resubmitted after being declined or expiring will be assessed under the updated verification requirements.
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