VARIABLE interest rate mortgages with the Newcastle Permanent will receive Monday's 0.25 per cent cash rate cut, the building society has announced.
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It matches the Greater Bank, who decided the same day they would pass on the full reduction.
The Newcastle Permanent said rates on interest only, owner-occupier and investment loans will drop effective from July 29.
On the same date the Greater Bank will give owner-occupiers with variable home loads the 0.25 per cent break.
Interest on their variable investment loans will drop 0.15 per cent.
"Customers may choose to maintain the amount they pay off their home loans, effectively paying off their loan balance sooner, or enjoy the benefit of some extra space in their monthly budget," chief executive Bernadette Inglis said.
ANZ was the only major bank to pass on Monday's Reserve Bank of Australia reprieve for borrowers in full by Tuesday, a trend Ms Inglis blasted.
"Customers of the major banks continue to realise they come second to shareholders' dividends, while we're proud to remain customer-owned and customer-focused," she said.
Greater Bank chief executive Scott Morgan said there were factors beyond the Reserve Bank decision at play in their change.
"Before making any changes to interest rates we need to consider the impact it has on all our customers - borrowing and depositing. There are also considerations around our funding costs and regulatory requirements," Mr Morgan said.
"On balance, we believe that passing on the reductions was in the best interest of our customers and the business."