Lender cuts variable rate

In addition, the bank has also launched a new Basic Package made up of the Basic Variable Rate Loan with 100 per cent Mortgage Interest Offset Account and a Basic Fixed Rate Loan.

AMP Banking head of sales and marketing Steve Craig said there was an increasing demand for home loans that combined variable and fixed rate loans.

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“There are a growing number of customers that want peace of mind against rising interest rates,” he said.

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