Customers of Commonwealth Bank who are making interest-only variable mortgage repayments may want to consider switching out of that arrangement.
Australia’s largest bank has joined the other big three banks in lifting interest-only mortgage rates in an attempt to de-risk its lending portfolio and comply with regulatory requirements.
CBA customers who are making interest-only home loan repayments will see their rates rise by 30 basis points – or 0.3 percentage points – from July 7.Risk Warning:
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.