LJ Hooker promises rate freeze
LJ Hooker has announced it will freeze the interest rate on its Classic Home Loan until at least February 2011, despite the Reserve Bank of Australia’s 0.25 cash rate increase this month.
The property and finance group’s announcement means its interest rate will stay at 6.65 per cent.
“Our customers will benefit from the stability of knowing their loan is fixed at 6.65 per cent until February next year, which will offer them a reprieve over the holiday period,” LJ Hooker chief executive L. Janusz Hooker said.
LJ Hooker’s announcement comes as all four of the major banks announced they will increase their standard variable home loan rates over and above the Reserve Bank’s 0.25 per cent rise.
Yellow Brick Road has also announced a pledge to freeze its variable rate products from the end of 2010 until 1 February 2011.
“By keeping our rates at the current level, we are able to offer customers an alternative option to the banks,” said Mr Hooker.