The Reserve Bank of Australia is expected to leave official rates on hold but The Greater seized the chance to cut up to 0.55 per cent from key products.

For its new owner-­occupier customers who are on a variable-basic home loan worth $150,000 or more, and who owe less than 80 per cent of the property’s value, the rate drops to 4.09 per cent. 

The Greater is also offering 0.2 per cent off fixed Great Rate home loans and fixed and variable Ultimate (packaged) home loans of more than $150,000 with a loan to value ratio of less than 80 per cent for both owner occupiers and investors.

Green Hills branch manager Carolyn Mackaway said the discounted variable Great Rate Home Loan is the leading rate of The Greater’s main competitors and 0.83 per cent lower than that of one of the big four’s equivalent rate. 

Ms Mackaway said it was important for people to look at the all important comparison rate which takes into account interest rates plus key fees and charges rather than the advertised or headline rate.

“These rates are a real help to people looking to get their first loan to realise their dream of owning their own home,” Ms Mackaway said.

The Greater has about 250,000 customers in NSW and south-east Queensland.