HomeStart
Advice to Customers
HomeStart’s standard variable interest rate is 8.64% p.a.* and is comprised of two parts:
(1)the Base Rate which is also described in some credit contracts as the ‘Real Rate of Interest’ and
(2)the ‘Inflation Adjustment Factor’ which relates to the quarterly Consumer Price Index (CPI) adjustments.
HomeStart is required to advise you that the September 2024 quarter CPI result becomes effective from 1 January 2025, at which time the Base Rate will increase to 6.17% p.a. and the Inflation Adjustment Factor will change to 2.47% p.a.
Advantage and EquityStart Loan customers with contracts offered on or before 13 December 2021 please note that from 1 January 2025, the interest rate on the subsidised part of your loans will change to 2.47% p.a. For Advantage Loan customers with contracts offered on and from 14 December 2021 the interest rate on the subsidised part of your loans will remain unchanged.
Rates from 1 January 2025 assume HomeStart’s standard variable rate will remain at 8.64% p.a. This rate is subject to variation by HomeStart.
If you have any questions, please contact HomeStart on 08 8203 ... .
*Customers whose loans have different rate components that vary from those stated above will be sent written notification.
HomeStart Finance Australian Credit Licence 388466
Adelaide 5000
