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Media Rel: No variable rate home loan increase imminent

Document date:  Thu 11 Jun 1998
Published:  Thu 11 Jun 1998 00:00:00
Document No:  138082
Document part:  A
Market Flag:  N
Classification: 

HOMEX - Melbourne                                                     

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ANZ today announced it will not be reviewing its standard variable
home loan rate before the end of June.

ANZ Global Head of Personal Banking, Mr Peter Hawkins said a large
number of variable rate mortgage customers were concerned that
variable rates were about to rise, and were seeking to convert to
fixed rates.

"we would like to allay their concerns by providing an undertaking to
not review standard variable rates for existing customers during
June," Mr Hawkins said.

"In order to give customers plenty of time to consider their options
and make any adjustments they desire, we will also ensure that if a
review does occur after June, a reasonable period of notice will be
given," he said.

For media enquiries, please contact:

Paul Edwards
Head of Group Media Relations
Tel: (03) 9273 6955 or 041 123 3390

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