Maxim slash rates beyond RBA cut
September has seen Maxim Home Loans slash interest rates by 0.30% (0.05% lower than the RBA cut), remaining fiercely competitive and offering the Australian borrower true value in the Mortgage Market place.
The announcement comes following the long anticipated Reserve Bank of Australia (RBA) rate cut.
Expert economists have declared that a combination of a slowing economy, deteriorating business conditions and tight credit markets has paved the way for an interest rate cut.
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> Maxim's extraordinary rate cuts made headlines in national newspapers |
Maxim's ground-breaking rate cut was heavily publicised in the Australian Financial Review (AFR), such was the impact of the news.
Maxim CEO Spiro Markopoulos said: "In essence, we are there to keep banks honest and ensure that the competition is healthy within the finance sector. The banks profits have been immense, yet with non-bank lenders going toe-to-toe with them it ensures it keeps everything in check.
"The Australian public needs the Maxims, Wizards and Challengers of this world when looking for the ideal financial package. It's all too easy to point the finger at the non-bank lender as the 'bad guy', as has been done so many times in the past. Yet the reality is, without our kind in the marketplace, the consumer will pay more with a bank."
