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The Reserve Bank of Australia (RBA) raised the official cash rate by 0.25% on the 4th of October 2022. In response to the cash rate decision, Brighten has made the following changes to Brighten home loan products, effective 24th October 2022.
1. Alt Doc
The following interest rates are now applicable to new Brighten Boss® Prime and Brighten Boss® home loan applications.
- Full Doc
The following interest rates are now applicable to new Brighten Empower Prime and Brighten Empower home loan applications.
For new Brighten Evergreen home loan applications, the Risk Fees have been increased by 0.5%. Variable interest rates remain unchanged.
For pipeline applications submitted before 24th October 2022, the Risk Fees remain unchanged. Variable interest rates have been increased by 0.25% p.a.
5. Brighten Premium (188B/C Visa Holders)
The following interest rates are now applicable to new Brighten Premium home loan applications.
^Of the loan amount. #The comparison rate is based on a secured loan of $150,000 and a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Brighten has an SLA of 48 hours from receipt of a fully completed and eligible application to conditional approval. Work with Brighten to provide the best experience for your customers with the expertise of their professional team by your side.
For any questions please reach out to your BDM.