MyState Financial today announced a cut in their fixed rate loans and a financial contribution for new and existing members to refinance their current home loan to MyState Financial, up to the value of $1000.

The interest rate on all popular MyState Financial fixed rate home loans for 1, 2, 3 and 5 years has been reduced from between 0.26% and 0.36%, with all rates now being 8.99%.

MyState Financial Chief Executive, Chris Brooks said the changes reflect their commitment to continually provide Tasmanians with a choice when it comes to their home loan options.

“We understand the financial pressure faced by Tasmanian families due to interest rate rises and petrol prices, so this recent decrease to fixed rates provides them with the security of knowing their financial commitments, so they can still enjoy their lifestyle.”

“Furthermore, MyState Financial understands that many Tasmanians are reassessing their home loan options at this time and thus we are offering both new and existing members up to $1000* off the refinancing costs if they take out a home loan with MyState Financial” he said.

The Reserve Bank of Australia is due to meet tomorrow; if the decision is to decrease interest rates then MyState Financial will consider passing this decrease onto members with variable home loans.

* Limited offer that may be withdrawn by MyState Financial at anytime. MyState Financial will contribute up to $1,000 for loans over $150k and $750 for loans from $100k to $150k towards the cost of refinancing their home loan to MyState Financial. Proof of actual costs may be required.