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.
This article is for information purposes only.
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.