In this article:
Brighten Lender Update July 2022
Recommencing Pre-Approval Service
Brighten Lender is pleased to advise that they have recommenced the acceptance of Pre-Approval applications.
Brighten Interest Rates Decision – New Business
Last week, the Reserve Bank of Australia (RBA) raised the official cash rate by 0.50%. In response to the cash rate decision, Brighten has made the following changes to Brighten home loan products, effective 12th July 2022.
1. Full Doc
The following interest rates are now applicable to new Brighten Empower Prime and Brighten Empower home loan applications.
2. Alt Doc
The following interest rates are now applicable to new Brighten Boss® Prime and Brighten Boss® s home loan applications.
The following interest rates are now applicable to new Brighten Evergreen home loan applications.
4. 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.
- Interest Rate Based on Security – Not Purpose
- Application Assessed on Merits
- Fully Assessed Pre-Approvals
- Existing Debts Assessed at 125% of Actual Repayments
- Cash Out for Business Purpose Accepted (terms and conditions apply)
- Option to Sign Loan Documents Electronically via DocuSign
If you have any questions, refer to your YBR BDM.