Australian mortgage broker and non-bank lender, Aussie Home Loans, today announced a fall of 0.25 per cent to its Standard Variable Rate loan from 9.55 per cent to 9.30 per cent, representing a saving of about $52 a month based on a $300,000 home loan.

Executive Chairman of Aussie, Mr John Symond said, “Borrowers can expect further falls in variable mortgage rates later this year as a result of weakening global economies. This rate drop provides home buyers with a great chance to reduce their mortgages by maintaining their current level of repayments, as the extra repayments will reduce the size of their loan.

“The rate drop is great news for home owners and buyers who have been doing it tough lately. It is also a great time to check out the best deals available in the market through our mortgage brokers across Australia”, he concluded.

The rate change is effective for new and existing borrowers from September 5, 2008.

Aussie recently won the Best Mortgage Broker and Best Non-Bank Lender Awards in 2008 by Australian Banking and Finance Magazine.

The group has a loan book currently worth more than $24 billion, with more than 220,000 customers being serviced 24 hours a day, seven days a week by Aussie’s mobile lending force.

All of Aussie’s products and services are accessible via its national contact centre (on 13 13 33) or by visiting www.aussie.com.au.