Following the RBA’s decision to increase the official cash rate by 0.25% on 3rd May 2022, Vast Capital Mortgage Management ("VCMM") has updated its interest rates.
Details of interest rates changes have been emailed to the accredited brokers.
For existing customers, please refer to the information below. Notice letters are being sent to you by email or post. You can access your online portal by selecting your loan product from this link: Login page | VCMM and check your current interest rate in the portal (if applicable).
Product VM
New rates to existing customers will be effective from 27th May 2022
New P&I repayment will be effective 20 days after the 27th May 2022
All existing customers will be sent an email on 27th May 2022
Customers that have opted for mail, notice would have been sent in the post 7 business days before the change
Product VOC
Rate change to existing loan is effective on 17th May 2022
Repayments changes are effective on or after 17th June 2022
Interest rate changes have been processed and the letters are currently being generated
Product VS
Changes to all existing residential and commercial loans will be effective from 23rd May 2022
Existing customers will be informed of the change in the form of an email or letter communication
For Principal and Interest loans, the new minimum payments will be effective after 23rd June 2022
Repayments will automatically reflect the new rate for Interest Only loans
Customers will be advised of these changes over the next week
Product VB
Loans settled prior to 30th April 2022 have been subject to rate changes
Changes to repayment amounts are effective from 1st June 2022
Existing customers will have now received correspondence
Product NBH
For existing customers, the new home loan variable interest rates will take effect on 10th May 2022
A Notice Letter regarding the new home loan variable interest rates will be sent to existing customers via email
Customers will also be able to see their new interest rate in the NBH Borrower Portal
Product VP
Rate change to all existing customers is effective from 18th May 2022
Interest will be calculated on the daily balance from 18th May 2022
The repayment increase will apply from the next monthly loan anniversary date
For more information, please send your pre-settlement enquiries to info@vcmm.com.au and post-settlement enquiries to service@vcmm.com.au or contact your VCMM BDM directly.
